British Property Federation launches carbon reduction commitment guide

propertytalk Live! (Jun 17 2009) Carbon Reduction Commitment , Carbon Tax , Emissions

1. The British Property Federation (BPF) has launched a guide on the carbon reduction commitment (CRC), a mandatory cap and trade scheme that could have significant costs for firms or public sector who fail to control their carbon emissions. The Government backed-guide has been produced by numerous bodies and is also supported by the country’s leading energy firms npower and Centrica. Ministers have said that the scheme will be "revenue neutral", meaning all funds will be recycled between the scheme’s participants depending on how they perform. But despite the fact that the scheme starts next April across the UK, research shows that the vast majority of firms are unprepared while many don’t know about it at all. Firms consuming more than 6000 megawatt hours of electricity in 2008 (around £500,000) will have to pay out an estimated £1.4bn for the allowances when they go on sale ... (Read Full Article)

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