Major industry leaders today joined Commercial Secretary, Lord Deighton and Business and Energy Minister, Michael Fallon in signing a joint initiative to reduce carbon in infrastructure which could save as much as 24 million tonnes of carbon and £1.46 billion a year by 2050.

The initiative to save valuable resources by using new technologies, construction techniques and low carbon materials to cut down on emissions was signed at the launch of the Infrastructure Carbon Review which has been published today.

Currently infrastructure and related areas like energy, account for around half of all UK carbon emissions. Cutting the volume of materials consumed in, for example, construction and using existing resources more efficiently will reduce cost as well as carbon.

The Review developed jointly by government and industry though the Infrastructure Cost Review and Green Construction Board sets out a series of actions for government, clients and suppliers that have the potential to reduce up to 24 million tonnes of carbon from the construction and operation of the UK’s infrastructure assets by 2050.

The Green Construction Board will host a cross-industry event in Spring 2014 at which clients and industry can set out the progress they have made against the pledge commitments.

Commercial Secretary, Lord Deighton said:

“If we want a strong, globally competitive economy we have to invest in efficient infrastructure. The government has set out its long term infrastructure strategy, and we’re working with industry to make sure that we deliver cost effective and sustainable projects.

“This agreement means that we could save the UK economy £1.46 billion a year by 2050 which is a vital step forward in carbon and cost reduction. Industry as well as government must continue to drive this work forward so we get the infrastructure that the UK needs to compete in the global race.“

The UK has a legally-binding commitment to achieve an 80 per cent reduction in its carbon emissions by 2050. The Government has also committed to halving UK emissions during the 2023 to 2027 carbon budget period, relative to 1990. Infrastructure related activities such as energy and transport account for half of the UKs emissions.

The Infrastructure Carbon Review was jointly produced by the Green Construction Board's Infrastructure Working Group, Infrastructure UK and Department for Business, Innovation and Skills.

The Infrastructure Working Group is a joint government and industry initiative chaired by Chris Newsome, Director of Asset Management at Anglian Water.  It includes representatives from across the infrastructure value chain including key asset owners, sponsors and clients, contractors and designers and technical advisers.

Chris Newsome, Director Anglian Water and Chair of Green Construction Board working group, said:

“This review is about reducing carbon and reducing cost. Leaders across the infrastructure sector are endorsing the review and taking action to release the value of lower carbon solutions. I’ve been very proud to be associated with the infrastructure carbon review and the long term benefits it will deliver within the UK’.”