The Carbon Trust is to launch a £350 million low-carbon investment fund, designed to buy and refurbish commercial property in the UK. Excluding residential homes, buildings account for almost 20 percent of the country’s carbon footprint.
The Carbon Trust is partnering with fund manager Threadneedle and property developer Stanhope for the initiative, and hopes to raise an initial £100 million over the next year. The remaining £250 million will come from institutional investors.
Stanhope has a strong record in the area, being responsible for London’s Broadgate scheme, which is home to almost 4 million square feet of retail, leisure and office space. The development’s commitment to environmental standards includes recycling hundreds of tons of glass and cardboard, and reusing 120,000 litres of rainwater for cleaning and irrigation per year.
Tenants of the Carbon Trust fund’s properties will benefit from reduced energy usage and emissions.
Image: Flickr (Maz Hewitt)