Australia sets up Carbon Trust with Aus $75 million kitty
Greener living business opportunities are set to arise in Australia following the government's decision to step up carbon reduction by providing millions of dollars in loans to households and businesses.
The country's prime minister Kevin Rudd has appointed former Liberal minister Robert Hill to head the Australian Carbon Trust, which will be based in the city of Brisbane.
A kitty worth Aus $75 million (£37 million) has also been announced with the aim of helping Australian businesses apply for energy-efficiency building grants for green initiatives.
"Effectively the fund will provide grants for the building of commercial buildings and as the savings from energy efficiencies from those deployed technologies come in, those grants are then repaid," explained Mr Rudd.
He also stated that the government is putting in place initiatives such as the Australian Carbon Trust to encourage households to "do their bit also to bring down greenhouse gas emissions".
The Australian Carbon Trust is being set up to operate like the UK Carbon Trust, which encourages businesses to cut emissions.
