The Chancellor has revealed the worlds first carbon budget today which
included investment in buildings, energy efficiency, and renewable energy.
Alistair Darling has said that he will invest up to £375m in energy efficient
measures that will help public buildings, homes and businesses over the next two
He also announced £3.5bm support for offshore wind farms and renewable energy
providers. The investment should see up to 3m homes powered via environmental
means and will protect £9bn of investment.
The chancellor has allocated £405m to support the development of a green
manufacturing sector in the UK to be delivered through the Strategic Investment
Fund, to support sectors such as low carbon.
He announced in the Budget that up to £1bn of public money will be spent on
climate change initiatives for the country and investment in low carbon
This also includes a £100m investment in new build homes that will comply
with the latest energy efficiency ratings and insulations. The government will
further provide investment of £2.5m in heat and power projects as well as carbon
The chancellor has vowed to reduce carbon emissions by 34% by 2020 with more
announcements to be made at the Climate Change Summit to be held later this
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