Siemens and Carbon Trust launch green finance scheme

It has been announced that UK businesses can now apply for green equipment finance from German engineering company Siemens and Carbon Trust, a not-for-profit company created by the UK government to help businesses reduce their carbon footprint.

Worth up to £550m over the next three years, the low-carbon finance scheme is said to be the first of its kind and will enable UK businesses to invest in cost-effective energy efficiency equipment and other low-carbon technologies, such as high-efficiency lighting and biomass heating.

Siemens Financial Services UK will provide the financial backing and manage the provision of funding, while Carbon Trust Implementation Services, a subsidiary of the Carbon Trust, will independently assess the carbon, energy and cost savings of any project.

It is claimed that this should enable the financing to pay for itself through energy savings and result in no net cost to the customer.