Uk Crc Energy Scheme Becomes A ‘Stealth Tax’

Home - eWeekEurope.co.uk (Oct 21 2010) Cap and Trade , Carbon Reduction Commitment

1. The coalition government has been accused of imposing a ’stealth tax’, following an announcement in the Spending Review that the Treasury will keep revenues raised through its Carbon Reduction Commitment (CRC). The CRC Energy Efficiency Scheme is a cap and trade scheme, started in April 2010, which forces large organisations to monitor their emissions and purchase allowances for each tonne of CO2 produced by the energy they use. The more CO2 an organisation is responsible for, the more allowances it has to purchase, so there is a direct incentive for these organisations to reduce their emissions. (Read Full Article)

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