COP29: New commitment to channel $1.3tn of climate finance to developing world annually
The COP29 Presidency of Azerbaijan today announced the agreement of the Baku Finance Goal (BFG), ...
The UK government announced allocating over £80 million to help companies ditch costly fossil fuels for cleaner alternatives in order to cut their carbon footprint.
Breakfast giant Kellogg’s is among 29 successful projects to change their production processes to cut their emissions. The company plans to use hydrogen to fuel their cereal making process in Manchester, backed by over £3 million government investment.
Meanwhile one of Scotland’s oldest whisky makers, Annadale Distillery, will also take a step towards a new low carbon future, with a £3.6 million government investment in new thermal heating technology. This will see the distillery work with Exergy3 Ltd to develop a system that stores energy from electricity in special ceramic bricks, to then produce heating gas that could fully decarbonize the whisky-making process.
The funding, announced by Minister for Energy Security and Net Zero Graham Stuart, puts businesses on a path to revolutionizing their industry with cleaner energy sources – such as hydrogen and biomass. It marks the government’s latest move to boost the UK’s energy security and grow the economy.
Minister for Energy Security and Net Zero Graham Stuart said “Whether it’s the first meal of the day or a night cap, the great manufacturers of our country are striving to cut their carbon emissions and their energy bills – and in turn, support our efforts to boost our energy security.”
“Our investment of over £80 million will help them to go further and faster, using the latest science, technologies, and new energy sources to cut ties with fossil fuels and future-proof their industries.”
The Minister will announce the winners at the Climate Innovation Forum, where he’ll call on industry leaders and international bodies to get behind the green innovation drive, as part of London Climate Action Week’s flagship event.
Lord Callanan, Minister for Energy Efficiency and Green Finance, said “Britain has a long and proud history of pushing the boundaries in science – and our backing with over £80 million for these cutting-edge projects today will help make way for the next era of innovation.”
“The transition away from fossil fuels presents a huge opportunity for our growing green energy sector and we will continue to make sure UK business can benefits from its full potential.”
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