CRC Energy Efficiency Scheme - Measure Your Footprint
The CRC Energy Efficiency Scheme gets underway finally in March. Those organizations that are affected have to register and should be well advanced in their preparations as they get ready to disclose the size of their carbon footprint and consequent emissions. It's estimated that about 5000 companies in Britain will be forced to comply under the government scheme and jurisdictions and governing bodies all around the world will be keeping a close eye on the experiment to see how it works.
Although it has been talked about a lot around the world, Britain is the first country to initiate such a comprehensive "cap and trade" scheme as they are determined to reduce the overall quantity of carbon emissions produced within the country. Nevertheless, the program has been criticized as being very complex and confusing and it is said that up to 50% of the affected companies still do not fully understand its implications, amazingly.
As soon as the scheme gets underway, companies must start to act to analyze their energy use and emissions corresponding to all the relevant sources. The CRC Energy Efficiency Team entails a web-based reporting structure and companies must interact with this portal at the end of the reporting year. At that time, total energy use will be entered and will be converted immediately into tonnes of CO2. This figure will represent the number of allowances that a company will then have to buy for the forthcoming year. Note this will not be retroactive, but only apply going forward.
Everything must be done to become energy efficient as soon as possible and every month of delay can be problematic to companies affected. From March onwards, each bit of energy used will be added up under the CRC Energy Efficiency Scheme and will effectively determine how much money the company has to turn over to the government, for the rights to emit emissions the following year.
In this introductory phase of the CRC Energy Efficiency Scheme, the first year beginning March 2010 is called the "footprint" year. When the first annual report is submitted, in July 2011, several months after the end of the footprint year, the company must reveal its energy and emission liability. Its aim, therefore, would be to reduce its reliance on energy in subsequent years so that it will get its allowances refunded accordingly.
The government's much anticipated league table will expose each organization's position relative to others and will be a graphic depiction of performance. Those who flounder would be placed further down the table and will incur penalties, while those who aggressively address the program have every chance of receiving bonuses in addition to their refunds.
The British chancellor of the exchequer has said that the CRC Energy Efficiency Scheme will be revenue neutral and most companies are happy with this. If they are efficient they can receive all the funds they put into the scheme back and note that funds raised from penalties will be converted into bonuses to be given to those companies who excel.
Note that the CRC Energy Efficiency Scheme is basically self certifying. Companies will be expected to reveal their energy use and emissions on a self auditing basis. However the government has said that a proportion of companies will be audited each year, based on an assessment of an organization's "risk of noncompliance." Within a five-year cycle, every company may expect to receive an audit.
Although it has been talked about a lot around the world, Britain is the first country to initiate such a comprehensive "cap and trade" scheme as they are determined to reduce the overall quantity of carbon emissions produced within the country. Nevertheless, the program has been criticized as being very complex and confusing and it is said that up to 50% of the affected companies still do not fully understand its implications, amazingly.
As soon as the scheme gets underway, companies must start to act to analyze their energy use and emissions corresponding to all the relevant sources. The CRC Energy Efficiency Team entails a web-based reporting structure and companies must interact with this portal at the end of the reporting year. At that time, total energy use will be entered and will be converted immediately into tonnes of CO2. This figure will represent the number of allowances that a company will then have to buy for the forthcoming year. Note this will not be retroactive, but only apply going forward.
Everything must be done to become energy efficient as soon as possible and every month of delay can be problematic to companies affected. From March onwards, each bit of energy used will be added up under the CRC Energy Efficiency Scheme and will effectively determine how much money the company has to turn over to the government, for the rights to emit emissions the following year.
In this introductory phase of the CRC Energy Efficiency Scheme, the first year beginning March 2010 is called the "footprint" year. When the first annual report is submitted, in July 2011, several months after the end of the footprint year, the company must reveal its energy and emission liability. Its aim, therefore, would be to reduce its reliance on energy in subsequent years so that it will get its allowances refunded accordingly.
The government's much anticipated league table will expose each organization's position relative to others and will be a graphic depiction of performance. Those who flounder would be placed further down the table and will incur penalties, while those who aggressively address the program have every chance of receiving bonuses in addition to their refunds.
The British chancellor of the exchequer has said that the CRC Energy Efficiency Scheme will be revenue neutral and most companies are happy with this. If they are efficient they can receive all the funds they put into the scheme back and note that funds raised from penalties will be converted into bonuses to be given to those companies who excel.
Note that the CRC Energy Efficiency Scheme is basically self certifying. Companies will be expected to reveal their energy use and emissions on a self auditing basis. However the government has said that a proportion of companies will be audited each year, based on an assessment of an organization's "risk of noncompliance." Within a five-year cycle, every company may expect to receive an audit.
About the Author:
Daniel Stouffer has a lot of information about the CRC Energy Efficiency Scheme and how a visit to www.verisae.com can be of use to you.
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