RegulationCorporate GovernanceBudget 09: World’s first carbon budget

Budget 09: World's first carbon budget

The Chancellor announces the world first carbon budget tackling, energy, reductions and investment

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
years.

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
technologies.

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
capture.

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
year.

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