Country:United Kingdom
Policy status:Ended
Date Effective:2007
Date Ended:2011
Policy Type:Economic Instruments>Fiscal/financial incentives>Grants and subsidies
Policy Target:Multi-Sectoral Policy
Agency:Department of Energy and Climate Change
Funding:GBP 400 million during the period 2008-09 to 2010-11

The Stern Review of 2006 concluded that three elements of policy are required for an effective global response to the threat of dangerous climate change: The pricing of carbon, Support for innovation and deployment of low-carbon technologies, and Removing the barriers to energy efficiency.

The Environmental Transformation Fund (ETF) is part of the second element of the then government response, in the UK and internationally, to create a GBP 1.2 billion fund for the three years from April 2008 to March 2011. The international fund disbursed GBP 800 million over the three years, focusing on projects that supported development and poverty reduction through environmental protection, and will help poor countries to tackle climate change. The domestic element of the ETF had a budget of at least GBP 400 million over the period with spending on the demonstration and deployment of low-carbon, non-nuclear, energy and energy efficiency technologies. Programmes funded included:

Hydrogen Fuel Cell and Carbon Abatement Demonstration Programme

Marine Renewables Deployment Fund

Low Carbon Buildings Programmes

Bioenergy Capital Grants Programme

Offshore Wind Capital Grants programme

Near Zero Emissions from Coal project

Carbon Trusts innovation programme, including research accelerators, technology accelerators, and incubators

Carbon Trust funding for new low-carbon enterprises, including Partnership for Renewables

Carbon Trust investments in low carbon technology businesses

Carbon Trust energy efficiency loans scheme for small and medium sized enterprises

Salix Finance public sector revolving loan schemes and support for low carbon energy innovation

Last modified: Fri, 12 Dec 2014 17:12:31 CET