April 29, 2009—The U.K.’s Carbon Trust has been studying different low-carbon measures, looking for those that deliver the best carbon reduction and job creation opportunities, both now and in the future, on the greatest scale and at the lowest cost. The organization is applying its research to show which options in the U.K.’s new budget will be most effective.
The Carbon Trust says the first half of building a low-carbon economy is to integrate energy efficiency into all aspects of society. Efficiency reduces costs so there is a strong business case for doing this now in a downturn, adds the organization.
The Carbon Trust asserts that the U.K. needs to think big and start with public buildings. A mandate from the government to implement the energy certificates on display today in public buildings would create around 13,000 jobs by 2020, reduce its energy bills, and help the battered construction industry, as well as set an example for commercial properties.
As for cash-strapped businesses, the Carbon Trust already provides interest-free loans to small businesses to invest in new energy-efficient equipment like lighting, boilers and control systems. The businesses pay back the loans through the savings they make. This program can reportedly be extended to more organizations, creating a further 2,000 jobs in the first three years and reducing energy bills for U.K. business by 500 million every year, says Carbon Trust.
The second half of building a low-carbon economy is creating the industries and jobs to position the U.K. as a global hub for low carbon innovation, says the Carbon Trust. With limited public funding, the organization suggests investing in technology areas where the U.K. is already strong.
The Carbon Trust says the U.K. needs innovative, often unproven, technologies such as offshore wind to flourish and make their case for focused support. The organization suggests 250 million of government investment would leverage a billion in private investment, create 3,000 jobs by 2011, and hopefully generate returns that more than cover the cost.
