15 Feb 2011 11:02:20
Carbon Trust funding cut by 40%
The Carbon Trust has revealed it is to have its government funding cut by 40 percent for the financial year 2011/12.
Created to drive growth within the low carbon economy, the body is not-for-profit and relies in part on government grants.
In a statement released on its website, the Trust said it expects to receive around £50 million from the coalition in 2011/12, a reduction of 40 percent on the previous year's figure.
Tom Delay, chief executive of the Carbon Trust, said, in particular regarding reducing small business emissions and overcoming market problems, "public funding still remains necessary in achieving our mission".
However, he added: "Mobilising the private sector over the years ahead will be critical to delivering a low carbon economy."
Mr Delay spoke specifically on the Trust "actively pursuing significant partnership opportunities", promising to make announcements on these developments in the coming weeks.
So far, the Carbon Trust Standard has been awarded to 500 organisations for efforts in cutting the amount of CO2