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Moving the UK Towards a Low Carbon Economy

Start Date:28 Jun 11 

Time: 0830–1400
Location: Grange Holborn Hotel, London

The impact of climate change poses many threats to the natural environment, the UK's energy security and wider society. Coupled with the on-going tough economic environment, the need to reduce public expenditure and the drive to promote enterprise; strategies to tackle climate change and the transition to the low carbon economy will play a leading role in supporting financial recovery.

Successive governments have enacted wide-ranging policy to protect the nation against the consequences of climate change, the Energy Bill introduced into Parliament in 2010 builds on this previous legislation to protect energy security. The Green Deal represents a core element of the Bill – under the deal individuals and businesses will be able to access finance upfront in order to implement improvements to energy efficiency. The government hopes this will lead to substantial economic growth and support the creation of 100,000 'green' jobs within the next 5 years.

In order to stimulate financial growth in the low carbon economy, the government have announced plans to provide funding for 250,000 apprenticehsips, many of which will be in the low carbon industry. Furthermore, the government have introduced a packet of measures to develop a 'low carbon army' of highly skilled individuals. The government will work with education providers to redesign the skills framework to match the labour markets needs in order to support industry and encourage growth.

The government strengthened their committment to the low carbon economy, with the announcement in the 2011 budget to set up the Green Investment Bank with £3 billion of funding.

The low carbon revolution offers great economic and social opportunities. The expected growth in green industries, investment in skills training and innovation in technologies herald a new era of sustainable development. The move to the low carbon economy will increase the use of carbon budgets and lead to improved use of natural resources across the private and public sector.

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