UK strikes low-carbon deal with Qatar

News Article - 03 November 2008
Category: Environment

A partnership to push for a reduction in carbon emissions measurement has been created between the UK and Qatar.

The Carbon Trust - an independent company created by the UK government in 2001 to help lower carbon emissions - will join with the Qatar Investment Authority (QIA) in creating a £250 million Qatar-UK Clean Technology Investment Fund.

Its aim is to make venture capital investments in clean energy companies mainly in the UK, with some in Europe.

Additionally, the possibility of setting up a Low Carbon Innovation Centre in Qatar, which will share information and skills on low-carbon technology, will be looked at.

According to the Carbon Trusts' chief executive, Tom Delay, the agreement could put the UK in a stronger business position.

"Mitigating climate change will bring a wealth of new business opportunities as low carbon technologies are developed and commercialised," he said.

US presidential candidate Barack Obama has said that accounting for carbon emissions will be high on his agenda if he is elected.

He has suggested that the USA will invest $15 billion annually over the next decade into renewable energy.

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