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Low Carbon Cities
publication date: Jan 16, 2012
Local authorities encouraging investment in energy-efficiency will benefit from lower carbon emissions, job creation and increased competiveness, according to the Centre for Low Carbon Futures. In new research examining the potential costs and benefits of a local approach to cutting carbon in Leeds, academics conclude that over a decade investing 1% of the city’s annual GDP in energy management will result in a drop in its yearly energy bills worth 1.6% of GDP. According to the report’s analysis of potential efficiency measures, organisations in both the public and private sector investing in energy-efficiency can expect to see payback on the majority of measures in around four years. For industry, the authors identify £1.07 billion worth of low-carbon investment opportunities, including more efficient processes, building energy management systems and renewable heat, that would pay for themselves in just 3.31 years and cut emissions from the Leeds city region by 4.3% over the coming decade. Meanwhile, commercial firms investing in more efficient office equipment, biomass boilers and more effective heating systems could achieve a reduction in emissions equivalent to 3.9% in the city’s overall emissions over the next 10 years, with payback in 5.58 years. The report concludes that a community-wide adoption of cost-effective and cost-neutral measures such as better insulation, more efficient equipment, better public transport and renewable heat, will enable the city to meets it 2022 target of a 40% reduction in carbon emissions on 1990 levels, while creating local jobs in installing green equipment, for example, and helping businesses to gain a competitive edge by becoming early adopters of effective energy management. However, the report warns that the transition to a low-carbon economy depends on political, social and financial capital.
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