With the support of the EDRF, the South East England Development Agency (SEEDA) has allocated £3.8m to green businesses throughout the region and established a £4m sustainability loan fund.
The £3.8m allocation will fund 2,500 businesses to develop initiatives within a framework of six sustainability-led projects, which focus primarily on waste reduction, sustainable procurement and the development of sustainable technologies. Qualifying businesses will undergo training and environmental audits in order to establish methods that boost profits through energy reduction.
The £4m South East Sustainability Loan Fund will provide between £20,000 and £200,000 for businesses that wish to improve their green credentials.
The initiatives are supported through the South East European Regional Development Fund (ERDF) Competitiveness Programme 2007-13, which has a total allocation of over £21m to be awarded over the seven year period.
Commenting on the initiative, Oona Muirhead, Group Executive Director of Strategy and Support, was quoted as saying: “The funding from the European Regional Development Fund comes at a time when so many businesses are working to grow out of recession”.
“Investing in going green will help businesses to cut costs, increase profits and support long-term sustainable prosperity in the South East”