Proposed CRC reporting exposes confusion

- By:

Courtesy of Verisae

Both in the United States and in the United Kingdom, initiatives are currently underway to force certain categories of business to proactively reduce the size of their carbon footprint and to produce a series of carbon reports to prove their progress.

The UK government has taken the first initiative with the introduction of the Carbon Reduction Commitment legislation which will force an estimated 5,000 companies, directly affected by the law, to take part in a “cap and trade” scheme and to produce carbon reports.

The new law will require eligible companies to purchase credits from the government which must be effectively traded back in relation to their carbon emissions. Companies that do not use up all their emissions may sell unused allowances to other organizations for financial benefit. Conversely, those companies who are not as efficient will effectively suffer the equivalent of a financial penalty.

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