Related links
Nabarro teams up with Local Government Association to create landmark Carbon Reduction Commitment guide
28 May 2009
As part of a successful cutting through the green tape series, the specialist climate change and energy group at leading law firm Nabarro LLP, has teamed up with the Local Government Association (LGA) to produce an introductory guide to the new mandatory carbon trading scheme; the Carbon Reduction Commitment (CRC).
Cutting through the Green Tape II: preparing for the carbon reduction commitment (CRC) sets out the key principles and legal requirements that large businesses and public sector organisations will have to adhere to. The requirements apply to all organisations whose annual UK half-hourly metered electricity consumption was at least 6,000 Megawatt hours during the 2008 calendar year.
The publication is aimed at key decision-makers in local authorities and gives an introduction to the scheme, which comes into force in April 2010, as well as suggesting essential actions that authorities need to take now to prepare for it.
Tom Bainbridge, head of the climate change and energy team at Nabarro commented on the initiative, “CRC is going to be very important and is central to the way every organisation will have to conduct its business. It is a means by which to encourage the reduction of energy costs, as well as investment in cost-effective technologies, and the production of this report is a landmark movement for the climate change and energy sectors. However, too few organisations are prepared for it.”
Once the scheme is fully operational, organisations caught within it will have to forecast future consumption and report actual energy consumption. They will have to buy, trade and surrender carbon allowances to match their energy consumption. Those that fail to reduce their energy consumption will be penalised by “naming and shaming” in a published league table, imposing a new financial burden and penalties for poor performance, and in extreme cases, criminal sanctions. High performers will be rewarded.
A full copy of the report can be downloaded at Carbon Reduction Commitment.
If you would like any further information or have any queries please contact:
Natalie George
Lansons Communications
T +44 (0)20 7294 3691
natalieg@lansons.com
