The Carbon Trust is launching a low carbon commercial property investment fund.
The Carbon Trust has joined with fund manager Threadneedle and developer Stanhope to launch a £350 million low carbon commercial
property investment vehicle.
Designed to allow the group to buy and refurbish commercial property, the fund aims to raise £100 million over the next year and £350 million within three years, which will be used to retrofit 50 sites to low carbon standards.
Tom Delay, chief executive of the Carbon Trust, told the Financial Times: "This initiative aims to prove that green business opportunities can deliver the secure long-term returns institutional investors demand, which could be the key to unlocking the low carbon economy."
Occupiers of the retrofitted properties will be offered the space at normal rates but will benefit from reduced emissions and improved energy consumption, as well as receiving help to occupy the buildings to their full potential.
It follows news that the Carbon Trust has joined investors in giving a £3 million boost to improve the efficiency of power generation.
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