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Government launches climate change fund
1 April 1999
The UK government's Foreign Office has launched a climate change fund in partnership with business to make use of British expertise in clean technology and renewable energies in developing countries. The Foreign Office has put in £500,000 to start it off and hopes the sum will at least be matched by British companies with an interest in energy and the environment. The Climate Change Challenge Fund "Will fund projects that will help developing countries to build up the capacity they need to combine healthy growth with low emissions of greenhouse gases," says Foreign Secretary Robin Cook. He reports that UK organisations already supporting the Fund include British Gas, Lloyds Register, Price Waterhouse Coopers, National Power, and the Combined Heat and Power Association. The Foreign Office will also be working with the European Investment Bank to finance projects opened up by the challenge fund. The EIB already lends almost EUR 7 billion a year to environmental projects, including EUR 150 million in developing countries.
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