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Carbon Trust Could be Scrapped

The Carbon Trust, the environmental organization that helps businesses reduce their carbon footprint and which is backed by the British government, could be disbanded, according to a report in the Sunday Times.

The British government is looking for cost-cutting opportunities as it seeks to pare down its public debt. The recommendation to shut down the Carbon Trust is part of a larger recommendation by Bob Wigley of Merril Lynch, who was commissioned by energy and climate minister Greg Barker to find ways to fund the government’s proposed Green Investment Bank.

The Green Investment Bank initiative will be tasked with organizing financing for new environmental initiatives. Existing environmental organizations including the Carbon Trust, the Technology Strategy Board and Marine Renewables Deployment Fund would be folded into the new bank. According to Business Green, the previous government had considered funding the new initiative through the sale of government assets. David Cameron’s new government, however, is looking to use those funds to pay down the country’s debt, and is searching for ways to fund the initiative through existing programs.

Ministers within the Conservative government are said to be skeptical of the Carbon Trust. Barker was quoted in the Times as saying that even though many government-backed initiatives are doing good work, the landscape has become too crowded and could be more effective if it were consolidated into fewer organizations. Other politicians have said the large number of initiatives have led to significant overlap in responsibilities. The UK manufacturing lobbying group EEF, meanwhile, has called for a review of the Carbon Trust by the government in order to make it more effective and credible among manufacturers.

Although Wigley’s report has not been published yet, it is expected to recommend a reduction in green subsidies. The report also recommends that subsidies be applied over longer time periods, with outright grants being replaced with loans, which could increase incentives for pension funds and other vehicles with extended investment horizons to get fund such projects.

A report by the National Audit Office had previously criticized the Carbon Trust for having a limited impact.

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One thought on “Carbon Trust Could be Scrapped

  1. Dear All,
    I accept I have a vested interest in this agenda but surely we have all learnt about the implications of relying on a bank. UK PLC needs best practice, long and short term sustainable investment programmes with proven yields provided by accreddited accountable professionals.
    The Carbon Trust have strict vetting and control procedures that include the very best data sets in the UK obtained from real projects with clients that can verify the investment and business case.

    Our organisation is fully independant non political and rigorous and tenacious about only providing workable economically viable energy solutions. To my knowledge there are around 500 acreddited organisations based in the UK delivering the Carbon Trust products. All of the work is peer reviewed by the Atomic Energy Authority with the sole purpose of ensuring UK PLC is able to meet its energy demands and construct new macro and micro generation projects without returning to the boom and bust or rush for technologies without startegy. Our vision is also related to that of the Carbon Trust. Just because the new government are not familiar with the methodologies is no reason to jeopardise nearly 10,000 blue chip and micro chip UK businesses saving 20% on their energy costs reducing their opex and preserving jobs at the same time.
    They are established and proven for over ten years with excellent world leading export capabilities along with training the next generation in skill sets now firmly acknowledged as essential.
    I note that a foot in the mouth for a newly elected certain person in his constituency is looming as Witney is the administration base for the Carbon Trust.

    I challenge any (the NAO and others) to provide assurances that any alternative system would represent better value for money and strategic benefits and high accountable standards than are already provided.

    With reference to our records we have verified nearly 1% of the UK energy efficiency loans at 0% interest in the first 2 quarters of this year. Yields are between 6% and 16%, all the information has been provided to organisations at a miniscule cost all vetted, transparent and available for scrutiny. How is the alternative to accomodate this?
    Best Regards

    Come on UK the Carbon Trust saves UK PLC 4 times what they cost what bank can say that.

    The alternative is a treblin

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