UK businesses can now apply for green equipment finance from Carbon Trust and Siemens. Worth up to £550 million over the next three years, the dedicated low carbon finance scheme is the first of its kind and will enable UK businesses to invest in cost effective energy efficiency equipment and other low carbon technologies, such as new efficient lighting and biomass heating.

Siemens Financial Services UK will provide the financial backing and manage the provision of funding, whilst Carbon Trust Implementation Services (a subsidiary of the Carbon Trust) will use its expertise in carbon saving from energy efficient technologies to independently assess the carbon, energy and cost savings of any project. This should enable the financing to pay for itself through energy savings and result in no net cost to the customer.

The British Government has announced funding of over £46 million for 542 new low carbon buses on roads across England by March 2012. The money is part of the Government’s drive to target investment in new projects that promote green growth and encourage use of sustainable local transport.

All English regions will benefit with funds which have been paid to 20 bus operators and six local authorities. All the buses are expected to be in service by 2012.

“Low carbon buses emit around 30 per cent fewer greenhouse gas emissions than standard diesel buses and use around a third less fuel – that is why it was so important to kick-start the market,” says British Transport Minister Norman Baker. “They also represent an important and developing industry – both in this country and throughout the world – which has the potential to create jobs and boost economic growth.”

Green, low carbon hybrid-electric buses supported by the Fund are already in operation in London, Manchester, Oxford and Reading. Electric buses supported by the Fund are operating in Durham.

China is starting to act positively on international climate targets though challenges remain. A new report by The Climate Group commissioned by the HSBC Climate Change Centre of Excellence, says the Chinese government’s decision to put a ‘clean industrial revolution’ at the heart of the nation’s 12th Five Year Plan will deliver real carbon savings that could begin to curb national emissions, unlock new investment opportunities and ensure China is seen to be “pulling its weight” on international climate targets.

The report is titled ‘Delivering Low Carbon Growth – A Guide to the 12th Five Year Plan’.

China is now the world’s second biggest economy and biggest greenhouse gas emitter, and the report findings show how the country’s new national development strategy will combine ambitious growth targets – including a 7% GDP annual growth goal – with a need to rapidly de-carbonize its coal-based economy.

For the first time in a FYP, China has set a national carbon intensity reduction target of 17% and intends to cut energy intensity by 16% by 2015. The FYP will also boost investment for seven strategic new industry sectors vital to national competitiveness and sustainability paving the way for a more efficient economy and creating higher value industries in alternative energy, low carbon transport and energy efficient products. 

Critically, the report concludes that, although real challenges remain, the pace of deployment of low carbon energy compares favourably with International Energy Agency’s World Energy Outlook 2010 scenario for stabilising atmospheric concentrations of CO2 at 450ppm by 2100, suggesting that China is “pulling its weight” relative to international expectations in this regard.

Mark Kenber, chief executive of The Climate Group, comments: “It is hugely symbolic that China is putting green growth at the core of its national development plan and should be a wake-up call to Europe and North America policy-makers that a clean tech race is well under way. This bold policy plan unequivocally aims to set China on a clear low carbon trajectory and will ensure the country remains a major global hub for clean energy technologies for years to come. However, unabated coal consumption remains a significant reality check on China’s low carbon vision and, as with other countries, a comprehensive long-term approach backed by tough action on the ground will be needed to ensure that China’s green growth strategy delivers on its undoubted promise.”

Multinational utility companies are seeking to invest over Eur2 billion to harness the energy of County Clare’s wind, wave, tidal and biomass resources. This is according to the Clare County Development Board (CDB), which has launched its Integrated Strategy on Energy & Climate Change. The plan sets the path for Clare to become a low carbon county by 2017, as stated in the new Clare County Development Plan.

The strategy also outlines plans to create carbon free commercial trading centres within County Clare and generate hundreds of skilled jobs to serve the renewable energy market.

“This strategy sets out the importance that County Clare places on its environment and heritage of renewable energy production. This comes at a time when the country is searching for solutions to many social and economic issues. Ireland’s economy is suffering badly in the global recession and County Clare has been affected,” comments Joe Arkins, Cathaoirleach of the CDB. “Despite having abundant renewable energy resources the county and country are also heavily dependent upon imported fossil fuels to support our society and economy.”

Pat Stephens of the Limerick Clare Energy Agency, chairman of the Steering Committee that delivered the Strategy, adds: “County Clare has world class renewable energy resources in the areas of wind, wave, tidal, and biomass energy. These resources will be harnessed to create clean energy and great wealth for the county and the country.”

The objectives of the strategy are in five main themes:-

Energy Security, Conservation & Efficiency

- Energy conservation and benchmarking could reduce energy costs by €50 million.

- Hundreds of jobs will be protected by improving our energy efficiency and energy security.

Renewable & indigenous energy

* Large multi-national utility companies are seeking to invest over Eur2 billion to harness the energy of County Clare’s wind, wave, tidal and biomass resources.

* Hundreds of skilled jobs will be created to serve the renewable energy market.

Low Carbon Economy – Reduce CO2 Emissions

* Clare can create carbon free commercial trading centres.

* Low Carbon Counties attract inward investment.

* Reduced CO2 saves on Carbon tax.

Research & Development capacity in Alternative Energy

* Clare is working with third level institutes from all over the world to establish R&D capacity on alternative energy in the county.

Transport energy efficiency, conservation & renewable energy

* The county is perfectly placed to support the roll out of electric vehicles.

* Public transport services will have enhanced ticketing and route planning systems.

The European Commission has launched a public consultation on how to achieve a low carbon European economy by 2050.  In early 2011, the Commission plans to publish a Roadmap on options for ‘decarbonising’ the European economy by 2050 and the public consultation will feed into this. The roadmap will set out a strategy for reducing its greenhouse gas (GHG) emissions by 80-95% of 1990 levels by 2050.

It will build on the “resource efficient Europe” flagship initiative under the Europe 2020 strategy which includes as a headline target the reduction of GHG emissions by 20% of 1990 levels by 2020, or by 30% if the conditions are right.

The roadmap will contain an analysis of milestones on the pathway to 2050, including the necessary scenarios of the ambition level for 2030. A major shift in energy production and use will be vital to achieve the long-term targets.

The EU’s future action will therefore need to address key areas such as electricity and gas markets, energy sources, transport, consumer behaviour and closer international cooperation.

The public consultation, which runs until 8th December 2010, aims to gather views from stakeholders and the public on how to ‘decarbonise’ the European economy most effectively and in ways that maximise benefits in terms of stimulating technological innovation, boosting economic growth and job creation, and strengthening the EU’s energy security. The consultation is being conducted online through an interactive questionnaire which is posted at www.ec.europa.eu/clima/consultations/0005/index_en.htm together with a background note about the roadmap.

Commissioner for Climate Action, Connie Hedegaard (pictured) is known to believe strongly that climate action supports business competitiveness and wants to see innovative financial instruments play their part in designing a way forward.

Today, Friday 13th August, five members of the Challenge Europe Project (from Meath, Dublin, Belfast and the USA) will launch www.lowcarbonentrepreneurs.com, a new website providing the information entrepreneurs need to start new businesses that take advantage of the emerging green economy.

“This is an information portal that helps entrepreneurs explore the commercial possibilities of low carbon technologies. It provides an overview of the sector and provides links to more detailed information on funding and networking opportunities. Our goal is for the website to be a ‘one-stop-shop’ of information for would-be and existing entrepreneurs,” explains Andrea Carroll, one of the five founders.

Challenge Europe is a three year programme initiated by the British Council to encourage enterprising people from across Europe to create a project that makes a real difference to climate change. The five founders are working in the environment sector in Ireland. Challenge Europe is supported by Cultivate, Comhar Sustainable Development Council Ireland, Sustainable Development Commission Northern Ireland and Business in the Community Northern Ireland.

European Investment Bank funding for research and development of a new era of low-carbon engines and commercial vehicle technologies at Ford manufacturing plants across the UK was signed off today at Ford’s Dunton technical centre. The package, backed by a 80% loan guarantee from the UK government, forms part of Ford’s £1.5 billion engine and vehicle development programme to be implemented over the next five years.

The investment is expected to safeguard around 2,800 skilled jobs.

“The European Investment Bank is pleased to support Ford’s cutting-edge engine research and development in Dunton and Dagenham, and the company’s upgrading of manufacturing operations in Bridgend, Southampton and Dagenham, in particular through the European Clean Transport Facility. A new generation of low-emission engines and more fuel-efficient vehicles will develop new skills and innovation across the United Kingdom, and these new vehicles will make a significant contribution to combating climate change,” says European Investment Bank vice president Simon Brooks.

“This European Investment Bank loan, and the loan guarantee from the UK Government, will help to unlock up to £1.5 billion in low-carbon and environmentally friendly engine and vehicle technology investment over the next 5 years. This is a testament to the skills and capabilities of our UK workforce and demonstrates the scale of our commitment to Britain,” comments Ford of Britain chairman Joe Greenwell.

The European Investment Bank’s funding for Ford supports research, development and innovation of a new generation of fuel efficient and low-emission diesel and petrol engines under the European Clean Transport Facility. Research and development of petrol engines will include additional investment in Ford’s Bridgend plant, located in a European Convergence Region.