Isramart : UK Government To Start Mandatory CRC CO2 Reduction Plan Apr 1

Isramart news:
The U.K. government said Monday it is to start its new mandatory scheme for large public and private sector organizations to boost energy efficiency and reduce carbon emissions April 1.

The Carbon Reduction Commitment scheme, or CRC, will require organizations such as supermarkets, hotels, hospitals, local authorities and central government departments and other that typically spend GBP500,000 on electricity a year to take part.

"This is a real opportunity for business and industry to take a leadership role in tackling climate change and gain reputational advantage as a result," Energy and Climate Change Minister Joan Ruddock said.

The scheme is mandatory and will save participants around GBP1 billion a year by 2020 through cost-effective energy efficiency measures that aren't yet being taken up, the government said.

The CRC will be an emissions trading scheme focusing on carbon emissions not already covered by the European Union's Emissions Trading System.

From next year, participants will have to purchase allowances equivalent to their emissions each year with a total overall cap on the scheme set at 4.4 million metric tons of carbon dioxide a year by 2020.

The revenue raised from the scheme will be recycled back to participants on the basis of a league table, with those organizations making the most improvements in energy efficiency receiving the largest reward.