The CRC Energy Efficiency Scheme, formerly known as the Carbon Reduction Commitment is a cap and trade system aimed at reducing the impact the UK has on global warming. Coming into effect in April 2010, it is part of this government’s overall strategy to cut greenhouse gas emissions by 80% of their 1990 levels by 2050.
Participants will need to buy allowances to offset their carbon emissions, the total number of which decrease over time, reducing overall carbon emissions.
Who’s affected?
The CRC aims to tackle the largest carbon emitters, focusing on organisations that consumed over 6,000,000kWh in 2008, equivalent to an electricity bill of about £400,000-£500,000 p.a. Exemptions shield those with over 90% of their emissions covered by the EU Emissions Trading Scheme, or by Climate Change Agreements.
Regardless of these criteria, all central UK government departments qualify for the CRC, with special guidelines given for bodies such as Local Authorities, Universities, Joint Ventures and Franchisors.
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