The British government has declared £315 million of new funding to help the most polluting factories reduce carbon emissions. The government is finding new technologies to reduce the carbon emission to help meet UK’s climate targets.
The scheme will offer capital over the next five years to energy-intensive firms to reduce carbon emission. Energy minister Kwasi Kwarteng said that the fund will boost investment in clean growth as it works towards its climate targets. It is expected that the fund will help heavy industries cut two million tonnes of carbon emissions between 2028 and 2032 which is equal of taking nearly 2,00,000 cars off the road every year.
The government has plans to drastically improve the energy efficiency of commercial buildings while also helping businesses by saving them up to £1 billion a year on their energy bills by 2030. The UK is already cutting emissions faster than any other economy and hoping to end their involvement in climate pollution entirely.