March 18, 2013—U.K. businesses needing to buy or replace green equipment may soon have easier access to funds through a partnership between the Carbon Trust and Siemens Financial Services Ltd. that was formed to provide U.K. businesses with Energy Efficiency Financing worth up to £550 million over the next three years.
According to the Carbon Trust, an organization working to accelerate the move to a sustainable, low-carbon economy, this major new deal will boost green growth and unlock business investment in the low carbon economy—key to the U.K.’s recovery. The new dedicated low-carbon finance program is reportedly a first and will enable U.K. businesses to invest in cost-effective energy-efficiency equipment or other low-carbon technologies, such as new efficient lighting and biomass heating.
All businesses will be able to apply for new green growth finance from the scheme. Siemens Financial Services Ltd. in the U.K. will provide the financial backing and manage the provision of funding, and the Carbon Trust will use its expertise in carbon saving from energy-efficient technologies to assess the carbon, energy and cost savings of any application. This will enable the financing to pay for itself through energy savings, both entities say.
