Isramart: Northwest launches pioneering carbon reduction fund

Isramart news:
A fund designed to provide finance to community-based carbon reduction projects has been launched in the northwest.

Foundation has been set up with an initial £1.6 million investment from the Northwest Regional Development Agency and will provide £1 million a year for initiatives designed to fight climate change in the region.

These may include solar panels, wind turbines or peat bogs and energy and climate change minister Joan Ruddock said it shows a commitment towards reducing emissions at all levels.

“The work being done in the northwest should be seen as an example to everyone of what we need to be doing to meet our ambitious emissions reduction targets,” she added.

Foundation will be managed by Groundwork Northwest and chaired by United Utilities.

In 2006, the government announced that all new homes should be carbon neutral by 2016, while it was recently proposed that UK-wide carbon dioxide emissions should be cut by 80 per cent by 2050.