Millions of pounds will be saved for businesses through ambitious new proposals to simplify the Carbon Reduction Commitment Energy Efficiency Scheme, (CRC). Participants will see their administrative costs cut by almost two-thirds, equating to around £330 million of savings up to 2030. The CRC is a mandatory UK-wide trading scheme covering large business and public sector organisation, who produce 12% of UK carbon emissions. It requires businesses to report on and pay a tax on energy used, and ranks businesses in a performance league table which provides a further reputational incentive to improve their energy efficiency. The CRC is expected to deliver carbon savings of 21 MtCO2 by 2027. Businesses support the simplification of the scheme, and will now have the opportunity to comment on Government’s proposals. The package proposed is aimed at retaining the energy-saving and reputational benefits of the CRC, whilst reducing the bureaucracy of taking part.
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