Recent survey shows alarming results with a quarter of UK finance professionals unaware of CRC energy efficiency scheme just a few weeks ahead of the registration deadline.
CRC energy efficiency scheme – how do we achieve these targets?
The CRC Energy Efficiency Scheme, formerly the Carbon Reduction Commitment, is a mandatory UK carbon emissions trading scheme covering organisations that use more than 6,000MWh per year of electricity (equivalent to an annual electricity bill of about £500,000). Operated by the UK Government’s Department of Environment and Climate Change (DECC) and aligned to the Energy Act 2008 and the Climate Change Act 2008, the more carbon dioxide a company emits the more allowances it will have to purchase. All...
Barker noted the CRC must be simplified
Climate Change minister said the CRC has helped to put energy efficiency on the boardroom agenda, but it is too complex and must be simplified. A government report published last week highlighted the lack of popularity of the Carbon Reduction Commitment (CRC) energy efficiency scheme among organizations registered with it. The report has its origin in a conference held on 3 March to discuss ways of reforming the CRC energy efficiency scheme, where more than 200 CRC-regulated organisations attended to...
Overlap between the CRC and EU ETS may limit its effectiveness
New report claims the CRC Energy Efficiency Scheme may fail to cut carbon emissions and overlap other carbon reduction schemes.
Businesses offer a cautious welcome to CRC changes
Business leaders cautiously welcome the simplification of CRC scheme, but urge government to deliver stable policy framework. Business leaders have offered a cautious welcome to proposals to simplify the CRC Energy Efficiency Scheme, but many companies are still in shock about the government decision to keep any revenue it raises through the scheme, rather than recycle it to participants. The reaction follows yesterday’s publication by the Department for Energy and Climate Change (DECC) of a consultation...
Coalition turns CRC scheme into a carbon tax
Coalition government announced that CRC scheme will no longer return revenue to participants, but will encourage them to improve their energy efficiency. The UK government quietly imposed a £1bn-a-year carbon tax on around 4,000 of the largest businesses and public sector bodies in the UK as part of its spending review. The move was not announced by the chancellor, George Osborne, but made public on a statement by the Department of Energy and Climate Change (DECC) yesterday.The statement detailed the...