March 24, 2008 - The British government has unveiled a new procurement policy aimed at “[harnessing] the power of government as the U.K. economy’s biggest customer to create new markets and demand” for greener products, the Guardian reports.

Guidelines for the new procurement policy have been created based on the European Commission’s lead markets initiative, which focuses on driving new research and development in green building, recycling, biobased products, and renewable energy, among other sectors.

In addition to rewarding big-name companies with large R&D budgets, the program will reach out to smaller businesses by offering "innovation vouchers" that provide funding for research partnerships. Small businesses will also receive advice on protecting their intellectual property.

Read the government white paper outlining the new policy here (PDF).