Carbon Trust funding slashed by 40%
The Carbon Trust is negotiating with potential private sector partners to plug a 40% funding gap left by Government spending cuts.
Funding for the trust for the coming financial year will be around £50 million, which is a reduction of 40% compared to the previous year.
The trust's chief executive, Tom Delay, says while public sector funding will remain a crucial part of the organisations work the cuts will mean it has to seek more private sector partnerships.
The trust through its Carbon Trust Standard system has, since 2008, been a leading measurement tool for businesses and public sector organisations to reduce their emissions.
Mr Delay was keen to present the cuts as an opportunity rather than a problem for the trust, he said: "The business and funding environment we are operating in is fast changing.
"At the heart of this change will be a significant increase in our engagement with the private sector that will enable us to play an even more influential role over the next ten years of our development.
"At present we are actively pursuing significant partnership opportunities to rapidly scale up and expand our work both in the UK and overseas. We will be making a number of announcements on these exciting developments in the weeks ahead.
"Mobilising the private sector over the years ahead will be critical to delivering a low carbon economy."