Isramart : UK and UAE fund low carbon research

Isramart news:
The UK will create global low carbon policies by collaborating on groundbreaking international research with an Arab university.

Co-operation between the Department of Energy and Climate Change (DECC) and the Masdar Institute in Abu Dhabi in the United Arab Emirates will support work by the International Renewable Energy Association (IRENA).

The association assists different countries with creating and enacting renewable energy laws.

Small and medium enterprises (SMEs) will also receive help from the UK-UAE collaboration, in the form of a private and public sector partnership set up to help them find low carbon solutions to their business needs.

Potential investments worth up to £2 billion could be generated by the scheme, according to estimates from London-based sustainable financiers Earth Capital Partners.

Private firms and government bodies are to work together to support and guide companies looking to exploit the huge potential of low-carbon energy sources across their operations.

DECC minister Ed Miliband said: “These two new collaborative projects are examples of exactly the type of global collaborative effort that we must encourage to tackle climate change problems.”

Dr John Perkins, Provost of the Masdar Institute, said there was excitement about working with leading thinkers, researchers and officials.

“A key part of our mission is to help translate ideas to the market, and working with SMEs from the UK and the UAE to grow and be successful is essential in establishing a thriving renewable energy sector in both our countries,” he said.