Debts will be repaid through long-term energy savings, with surplus cash used to fund further decarbonisation efforts.
Speaking at a visit to Cardiff University, where a £12.2million project is accelerating carbon emissions reduction efforts, Welsh Deputy First Minister with responsibility for Climate Change, Huw Irranca-Davies, and Minister for Further and Higher Education, Vikki Howells, explained the undertaking was part of a wider initiative.
Totalling £20million in loan funding, other institutions that have successfully secured finance include Swansea University, where building energy efficiency will be targeted. The University of Wales Trinity St David and Royal Welsh College for Music and Drama have also been confirmed as recipients.
‘I’m really pleased to announce £20m of loan funding to higher education establishments to support them in reducing emissions and playing their part in tackling the climate emergency,’ said Deputy First Minister Irranca-Davies. ‘This is part of a wider journey to drive down carbon emissions across the whole public sector. It’s a huge challenge but by working together, I know we can achieve this. I would urge others to follow in the footsteps of organisations like Cardiff University.’
‘We’re delighted to have secured this new funding and to have the opportunity to welcome the Deputy First Minister and Minister for Higher Education to the University to discuss how this investment will help us meet our net zero ambitions,’ added Cardiff University’s Chief Operating Officer and University Secretary, Dr. Paula Sanderson. ‘This will enable us to fund major new works, including upgrading the windows at our Tower and Law buildings which will provide much needed energy efficiencies and carbon emission reductions.’
Cardiff University has previously undertaken energy efficiency improvements including LED lighting, solar PV, fume cupboard upgrades and pipework insulation. The institution’s vehicle fleet is also being upgraded to electric engines with funding from the Welsh Government.
More energy and net zero:
Image: Cardiff University