The government is proposing a simplified, UK-wide, carbon reporting framework for energy intensive companies from April 2019, implemented through the Companies Act 2006 as part of companies’ annual reports.
The government is proposing a simplified, UK-wide, carbon reporting framework for energy intensive companies from April 2019, implemented through the Companies Act 2006 as part of companies’ annual reports.
Consultation on the proposals will run until 4 January 2018. This forms part of the government’s new ‘clean growth strategy’, containing a package of proposals for cutting carbon emissions across all sectors of the UK economy through the 2020s.
HM Treasury’s consultation in 2015, ‘Reforming the business energy efficiency tax landscape’, found significant support for mandatory reporting of energy use, but also highlighted the need for simplification.
The government announced at Budget 2016 that it would abolish the carbon reduction commitment (CRC) energy efficiency scheme after 2019, incorporating the ‘price signal’ into the climate change levy (CCL) in the form of increased CCL rates from April 2019. Climate change agreement participants would also receive an increased discount from April 2019.
The CRC energy efficiency scheme is the mandatory UK-wide emissions trading scheme under which large public and private sector organisations surrender allowances at the end of each scheme year equal to their total CO2 emissions.
The proposals for mandatory reporting are not intended to apply to the public sector at this stage.
The government is proposing a simplified, UK-wide, carbon reporting framework for energy intensive companies from April 2019, implemented through the Companies Act 2006 as part of companies’ annual reports.
The government is proposing a simplified, UK-wide, carbon reporting framework for energy intensive companies from April 2019, implemented through the Companies Act 2006 as part of companies’ annual reports.
Consultation on the proposals will run until 4 January 2018. This forms part of the government’s new ‘clean growth strategy’, containing a package of proposals for cutting carbon emissions across all sectors of the UK economy through the 2020s.
HM Treasury’s consultation in 2015, ‘Reforming the business energy efficiency tax landscape’, found significant support for mandatory reporting of energy use, but also highlighted the need for simplification.
The government announced at Budget 2016 that it would abolish the carbon reduction commitment (CRC) energy efficiency scheme after 2019, incorporating the ‘price signal’ into the climate change levy (CCL) in the form of increased CCL rates from April 2019. Climate change agreement participants would also receive an increased discount from April 2019.
The CRC energy efficiency scheme is the mandatory UK-wide emissions trading scheme under which large public and private sector organisations surrender allowances at the end of each scheme year equal to their total CO2 emissions.
The proposals for mandatory reporting are not intended to apply to the public sector at this stage.
