Funding to reduce carbon emissions announced by UK Government
The UK Government has announced that industry will receive £350 million to help it cut down carbon emissions to tackle climate change. The funding was announced by the Prime Minister as part of his Government’s long-term plan to reach net zero by 2050. The transition from natural gas to clean hydrogen power and more use of innovative materials in heavy industry are two of the initiatives that will be supported by the funding.
Although these are longer-term projects, the funding is welcome, coming as it does when the latest British Chambers of Commerce Coronavirus Business Impact Tracker reveals that businesses are operating at half of their pre-covid levels on average. More than half cited reduced demand and possible future lockdowns as major obstacles to restarting day-to-day operations.
Click here to read about the Government’s carbon emissions funding
Click here for the BCC Tracker