The 2008 Climate Change Act made Britain the first country in the world to set legally binding ‘carbon budgets’, aiming to cut UK emissions by at least 80% by 2050. To achieve these ambitious targets, widespread action is needed right now.
The Carbon Trust is a not-for-profit company with the mission to accelerate the move to a low carbon economy. One service that they offer SMEs is a facility for unsecured, zero-interest business loans from £3,000 to £500,000 for equipment upgrades. These are designed to help businesses replace old equipment which is wasting money through energy inefficiency.
Loans can be repaid over a period of up to four years and as the scheme is designed for energy savings to cover repayments, the loan will effectively pay for itself. Up to £1,000 of loan is available for every 1.5 tC02 saved per annum from a project. Eligible projects, which can include lighting schemes, must deliver cost-effective carbon savings. Searching for ‘Carbon Trust Business Loan’ will reveal more information on these loans and how to apply for them