Sabien Technology encouraged by green ‘investment bank’ plans

Industry comment

Published: 24 June

Author: Alan O'Brien

Type: Industry comment

Year: 2010

 Sabien Technology Ltd, a fast growing, AIM-listed specialist in providing proven and commercially viable technology to reduce carbon emissions and usage for private and public organisations, issued the following comment on yesterday’s Budget:

“Green issues weren’t high up on the Budget agenda with many green policy announcements being deferred until the autumn, but of course we understand that George Osborne is laser focused at the moment on dealing with the current deficit.

“We understand that there will be further announcements in October to address the crucial issues of carbon reduction and sustainability.

“Energy-efficient technology will play a pivotal role in delivering David Cameron’s commitment to reduce carbon emissions by 10% by May 2011 and we’re encouraged by plans for a new green ‘investment bank’, although no details have yet emerged on how such a bank would work.

“The availability of ‘green’ money will help to increase funding for public sector carbon reduction projects, leaving the field open for green businesses to thrive.

“There was some good news for green businesses, including a cut in corporation tax by four percent over the next four years and a reduction in the small company’s tax rate to 20% and although general capital allowances have been cut, there is no indication of any change to the 100% allowance for qualifying green technologies.”