Low-carbon modular building solutions access funding to promote innovation and export.
Nordic countries are invariably at the more progressive boundaries of tackling climate change (low-carbon modular building solution), and last week they launched an innovation fund of EUR 40 million that Finnish companies and research organisations can apply for.
The argument for encouraging innovation and change in the building space to address carbon emissions gathers momentum every year, and countries that spearhead change, will ultimately, position their industries for a competitive advantage.
According to a 2019 report published by the International Energy Agency (IEA) for the Global Alliance for Buildings and Construction (GlobalABC), the global building and construction sector accounted for 36% of final (global) energy use and 39% of energy and process-related carbon dioxide (CO2) emissions in 2018, 11% of which resulted from manufacturing building materials and products such as steel, cement and glass.
Low-carbon modular building solutions will inevitably form a key plank of the transition to not only low-carbon building solutions, but also, the circular economy.
The Finnish Ministry of the Environment revealed that it has collaborated with the government agency Business Finland to launch the Low Carbon Built Environment programme. With this scheme, they will allocate a total of EUR 40 million between 2021 and 2023 to promote low-carbon building solutions.
More specifically, Finnish companies and research organisations will have the chance to apply for financial aid for sustainable projects. In allowing them to do so, the Finnish government seeks to merge business with climate action. Minister of the Environment and Climate Krista Mikkonen highlighted the importance of this, said: “It’s time to make tackling climate change good business and building, a key part of the climate solution. Finnish companies have enormous potential to create new products, services, and practices that build a carbon-neutral circular economy. We want to harness that potential now.”
The low-carbon modular building programme will consist of three forms of financing:
1) Business Finland has set aside EUR 32 million to support research, development, and innovation. Of this EUR 32 million, EUR 2 million can be applied for in 2021, EUR 15 million in 2022, and EUR 15 million in 2032.
2) Business Finland also has an “export support programme” whereby individuals can apply to receive EUR 2 million in 2022.
3) The Ministry of the Environment will allocate a total of EUR 6 million to companies operating in Finland from 2021-2023. Individuals can submit an application for the first EUR 2 million in 2021.
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