£550 million on offer from Carbon Trust

The Carbon Trust has joined with Siemens to launch a new "green" finance deal worth £550 million to UK businesses over the next three years.

The trust describes the scheme, which goes live on 4 April, as a first and says it will enable UK businesses to invest in cost-effective energy-efficiency equipment or other low-carbon technologies, such as new efficient lighting and biomass heating.

Under an agreement between the two parties, Siemens Financial Services (UK) will provide the financial backing and manage the provision of funds, and the trust will use its expertise in carbon saving from energy-efficient technologies to assess the carbon, energy and cost savings of any application. This will enable the financing to pay for itself through energy savings, says the trust.