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Carbon Trust funding down 40%

The UK Carbon Trust is seeing a 40% cut in funding this year, Chief Executive Tom Delay reveals.

By Renewable Energy Focus staff

In a statement on the Carbon Trust website, Delay says: “We anticipate that UK-wide Government grant funding in 2011-12 will be around £50 million. Despite a reduction of around 40% compared to the previous year, we recognise this is still a substantial level of support.”

Delay says the Carbon Trust will go through a number of changes, at the hard of which “will be a significant increase in our engagement with the private sector…”

Partnerships with private investors will be increasingly important, and Delay says the industry can expect “a number of announcements” in the weeks ahead.

“Mobilising the private sector over the years ahead will be critical to delivering a low-carbon economy. Through forming new partnerships with world leaders in green growth the Carbon Trust will grow, reach out to new markets and deliver and even greater impact,” Delay concludes.

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