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Funding for small-scale solar, biomass and other carbon reduction projects in the UK could rise significantly if consistent reporting guidelines for these schemes can be agreed, a study from BRE Trust, owner of the UK黑料社檚 leading building research body BRE showed.

Many companies interviewed for the report 黑料社�Financing UK Carbon Reduction Projects黑料社�, published by IHS BRE Press, said they would prefer to support green projects in the UK rather than invest in schemes abroad provided a standardised mechanism for reporting on the projects is created.

黑料社淭he key requirement for the support of UK-based projects is the creation of a standard that has widespread adoption and endorsement by environmental organisations recognised by their customers,黑料社� said Robert Rabinowitz, one of the report黑料社檚 authors.

Companies interviewed included major UK-based airlines, supermarket chains and financial institutions.

This standardised reporting framework would allow companies to compare projects in terms of the investment they involve, the amount of carbon emissions saved and associated non-carbon benefits including biodiversity improvements as well as community enhancement.

BRE is working with corporate partners on a proposal for a reporting framework, which it plans to deliver later this year.

黑料社淭he ultimate goal of such a reporting framework黑料社� said Rabinowitz, 黑料社渨ill be to create a new asset class, namely project-based carbon reductions in the UK, so that the investment capital required to fund such emission reductions and help the UK to meet its climate change targets can be deployed most effectively across the entire range of voluntary and regulated projects.黑料社�

Interest in community-owned renewable energy projects is particularly high especially in the area of solar power, said co-author Jon d黑料社橢ste-Hoare.

黑料社淲e believe that the opportunity to receive an additional income from the project in return for the carbon that the project mitigates will only increase the financial viability of this type of project,黑料社� d黑料社橢ste-Hoare added.

These projects could provide a valuable contribution to the UK黑料社檚 target raising renewable energy output and achieving its goal of an 80% cut in greenhouse gas emissions relative to 1990 by 2050.

Read the article online at: /business-news/11022011/bre_trust_issues_financing_uk_carbon_reduction_projects_report/