UK set to become low carbon technology leader?
A £20-£25 million development programme for low carbon technologies has been unveiled by the Carbon Trust as part of a strategy to help UK industry adjust to the Climate Change Levy.
The Trust believes it is technically possible for the UK to make a 60% reduction of its CO2 emissions by 2050, as recommended by the Royal Commission of Environmental Pollution, but only by a combination of energy efficiency measures and new low carbon technologies, plus significant societal and infrastructure changes. It also sees an emerging market for UK industry to take forward emerging low carbon technologies. Under the new strategy, existing support to speed up the deployment of existing energy efficiency technology – hand-in-hand with the government’s Energy Efficiency Best Practice Programme, EEBPP – will continue, in parallel with the development of “step change” introduction of low carbon technologies.
The strategy was launched at a conference on the levy organised by CIMA, the Chartered Institute of Management Accountants, which is emerging as a major proactive body in encouraging industry to tackle energy efficiency. Since the Levy was introduced on 1st April 2001, industry fuel bills are reported to have risen by an average 12%, however a recent CIMA survey indicates the levy is prompting companies to review energy efficiency. Joe Dilger, CIMA project manager, told edie that some 46% of respondents said the levy had led to new investment in energy efficiency equipment; 35% had been involved in formulating energy efficiency company policy; and 70% reported improved staff awareness of the need for energy management.
CIMA sees accountants as key players in demonstrating to business the energy and carbon cost savings through resource efficiencies and investments in proven low-carbon technologies, said CIMA president, Bruce Epsley. He is urging business to act now and take advantage of the incentives available to respond positively to the Levy.