Richmond announces plans for £1m Climate Change Fund

3.45.50pm GMT Mon 12th Mar 2007

New Climate Change Fund will enable investment in renewable energy sources such as solar.

Plans to set up a £1million Climate Change Fund have been announced by Deputy Leader Cllr Stephen Knight, to give Richmond Council's drive to cut carbon emissions even greater momentum.

The proposed Fund will pay for projects to reduce carbon dioxide emissions through energy efficiency and renewable energy measures and will be a key part of the Council's continuing effort to make Richmond the greenest and most sustainable borough in the country.

The aim is to pay for projects to reduce emissions generated by the Council, schools, and the wider community.

Precise details of how the Fund will operate are currently being drawn up by Council officers prior to plans being formally considered at the Council's Cabinet.

Once approved, the fund is likely to be up-and-running by the summer.

The Council's Deputy Leader and Cabinet Member for Resources, Cllr Stephen Knight, who announced the initiative at last week's full Council meeting, said:

"Climate change is the greatest environmental challenge facing the world today and Richmond Council seeks to set an example nationally and set a clear and consistent lead in how to counter this threat.

"Our ground-breaking scheme to link parking permit charges to emissions coupled with other initiatives underlines how serious we are in tackling this issue.

"We will be doing everything we can to reduce the threat posed by climate change by saving energy and cutting CO2 emissions in partnership with local communities.

"We have launched a new Sustainability Unit and are developing a Climate Change Strategy aimed at drastically reducing CO2 emissions from all sources in the borough.

"The proposed new Fund is designed to be a key element of this continuing drive.

"In practical terms, it will meet the upfront costs of energy efficiency or renewable energy schemes, from energy saving lightbulbs to solar panels, for Council buildings, schools, and the wider community.

"The Fund can then be replenished by reinvesting many of the savings resulting from these investments.

"In this way it can be self-financing, allowing the Fund to continue contributing to reducing emissions on an ongoing basis.

"Over the next few months detailed plans will be worked out and firm proposals will come before the Cabinet for approval in either May or June," Cllr Knight added.