The UK government has taken the initiative to combat the adverse effects of climate change caused by Greenhouse Gas (GHG) emissions. On March 12, 2009 the Department for Energy and Climate Change, in the United Kingdom, released a draft user guide to explain the legislation contained within the Climate Change Act of 2008. The guide details the Carbon Reduction Commitment (CRC), which is a mandatory emissions trading scheme, designed with the primary intent of improving energy efficiency and reducing emissions of carbon dioxide across the country.
Implications of the CRC Reporting Regulation
Implications of the CRC are quite far-reaching and will apply both within the public and private sector of the United Kingdom. About 20,000 organisations will likely be affected, based on how much electricity they consumed in 2008. Disclosures will be required for submission to the Environment Agency by the summer of 2010 at which time eligibility will have been calculated and compliance must be engaged.
Governments around the world are in general agreement that the levels of greenhouse gas emissions must be aggressively reduced or significant adverse effects are likely. Harmful levels of carbon dioxide are present within the atmosphere and it is estimated that these levels have increased by more than 40% since the dawn of the industrial age.
To ensure that catastrophic damage does not befall our environment the UK government is one of many to adopt a target to reduce greenhouse gas emissions by at least 80% by the year 2050, as compared to a 1990 baseline.