Hackney council pioneers eco-scheme
The London borough of Hackney is to take part in a new national carbon trading pilot scheme.
Dubbed Carbon Trading Councils, the programme will see councils from around the UK 'trading' carbon emissions at free-market prices to meet reduction targets.
While no money actually changes hands, the scheme allows local authorities to balance industrial needs with environmental commitments by attaching a monetary value to both.
Hackney is currently the only London authority taking part in the programme, but if it proves successful further councils around the capital are expected to sign up.
Councillor Jamie Carswell, deputy mayor of Hackney, said: "We all need to do our bit for the environment, and joining Carbon Trading Councils further demonstrates the council's commitment to helping make Hackney a cleaner, greener borough."
Among the expected benefits, analysts say property for sale in Hackney is likely to appreciate in value due to boosted demand from eco-conscious homebuyers.
Hackney Council also recently signed the Nottingham Declaration, a climate change bill that aims to galvanise environmental support among residents and local businesses.
Published 19th May, 2008
© 2008 Estates IT Limited
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The London borough of Hackney is to take part in a new national carbon trading pilot scheme.