The Chancellor has announced in his pre-budget report an additional £400m in funding for low-carbon growth initiatives and carbon reduction initiatives at domestic level.
This brings to over £15bn the amount of private and public investment in the low-carbon and renewable energy sectors over the next three years.
Included in the funding is:
-  £120m for low-carbon industries in the UK, including new manufacturing and testing facilities for offshore wind
- £200m for upgrading home boilers to latest ‘green’ models
- Tax-free status on income from renewable energy generated by individuals for their home through the Clean Energy Cashback Scheme
- Exemption from company car tax from 2010 for electric cars and a 100% first year allowance for low-carbon vans
Sustainable Investments to reduce carbon
Private investors can ‘do their bit’ to reduce carbon emissions by investing in ethical funds which focus on renewable energies, wind generators and similar projects.
One such fund is the Triodos Renewables Fund, launched in 2008 by the Triodos Group.
Triodos has financed over 150 wind farms, and projects it has aided currently generate enough clean energy for over 100,000 homes.
