TNEI’S advice to business on new CRC legislation
From April 2010, over 5,000 organisations in the UK will be hit by new “green” laws that will require them to buy allowances to cover their carbon emissions. The new legislation, called the Carbon Reduction Commitment (CRC) will require companies to spend upwards of 40,000 each year on carbon allowances. The Carbon Reduction Commitment will have a phased introduction starting in 2010 with organisations expected to monitor their energy use and carbon emissions and after 2011 buy carbon allowances to cover their emissions. Companies are being encouraged to act early in preparation for the CRC. A whole range of organisations will be affected including banks, schools and hotels. The new regulations are currently being finalised but companies affected will be expected to submit details of their annual energy use from next year. The new rules are being introduced as part of the Government’s aim to deliver reductions in carbon dioxide