AN event in Peterborough on January 22 will create new business opportunities for local companies that are developing technologies to improve energy efficiency.

City-based environmental organisation the UK Centre for Environmental and Economic Development (UKCEED) is running a one day workshop at Peterborough’s Eco Innovation Centre. It will help local companies to exploit new opportunities that arise from legislation aimed at cutting carbon emissions.

Gareth Jones of UKCEED said: “Despite the disappointing outcome of the Copenhagen Climate Summit at the end of 2009, Britain has already put in place steps to reduce UK emissions.

“By April this year many businesses will be affected by new Carbon Reduction Commitment (CRC) legislation. The law will require over 5,000 organisations and companies to fully disclose their energy use and require another 15,000 to begin collecting baseline data. This means that these organisations will have to focus on managing and reducing their energy usage.

“Local consultancy Cambium LLP has estimated that the market will be worth £600 million per year in the UK.”

UKCEED believes that the legislation will provide new opportunities for innovative companies which have energy efficiency technologies or which can minimise the cost of data collection and reporting.

Mr Jones said: “Over 350 low carbon environmental goods and services (LCEGS) companies are members of EnviroCluster Peterborough, a UKCEED initiative that aims to capture new opportunities for these businesses. This places the region in a perfect position to capitalise upon the market opportunity for low carbon technologies that will be created by the new CRC legislation.

“If your organisation has an innovation that helps to manage or reduce energy in the companies impacted by this legislation, then this event is an opportunity to give your company a big ‘first mover’ advantage.”

For more information and details on the event please contact Gareth Jones at UKCEED on 01733 311 644 or visit www.envirocluster.net.