Regime change

7th April 2016

Related Topics

Related tags

  • Mitigation ,
  • Reporting ,
  • Management/saving



The Budget set out further significant changes to the business energy efficiency tax regime.

In his March 2012 budget, the Chancellor had signalled that the carbon reduction commitment (CRC) scheme would be simplified and warned that if significant administrative savings were not found, the government would bring forward proposals by autumn that year to replace CRC revenues with an alternative environmental tax.

It has taken longer than originally outlined, but George Osborne has now decided to scrap the CRC and recover the lost revenue by raising the climate change levy (CCL). The CRC will be withdrawn at the end of the 2018–19 compliance period, with the increase to the CCL from April 2019.

The government has also said it will consult this summer on a simplified energy and carbon reporting framework, to be introduced by April 2019. We will keep IEMA members informed and engaged in our response. The consultation will propose mandatory annual reporting for the organisations within its scope, with board or senior level sign-off and some public disclosure of data.

The government will seek, as far as possible, to streamline data collection and reporting requirements, for example by limiting the number of times organisations have to measure and report their emissions and by aligning data collection and deadlines. Under the plans, mandatory reporting of GHG emissions by listed companies is retained in order to provide data transparency for investors and establish London as a centre of global green finance.

The government will also explore the integration of existing compliance and reporting requirements of climate change agreements, the EU emissions trading system and the energy savings opportunity scheme (ESOS) in a new framework. This would apply to UK undertakings and their corporate groups that satisfy the qualification criteria for ESOS. Public and third sector organisations that meet the criteria would also have to report.


Subscribe to IEMA's newsletters to receive timely articles, expert opinions, event announcements, and much more, directly in your inbox.

Transform articles

SBTi clarifies that ‘no change has been made’ to its stance on offsetting

The Science Based Targets initiative (SBTi) has issued a statement clarifying that no changes have been made to its stance on offsetting scope 3 emissions following a backlash.

16th April 2024

Read more

While there is no silver bullet for tackling climate change and social injustice, there is one controversial solution: the abolition of the super-rich. Chris Seekings explains more

4th April 2024

Read more

One of the world’s most influential management thinkers, Andrew Winston sees many reasons for hope as pessimism looms large in sustainability. Huw Morris reports

4th April 2024

Read more

Alex Veitch from the British Chambers of Commerce and IEMA’s Ben Goodwin discuss with Chris Seekings how to unlock the potential of UK businesses

4th April 2024

Read more

Regulatory gaps between the EU and UK are beginning to appear, warns Neil Howe in this edition’s environmental legislation round-up

4th April 2024

Read more

Five of the latest books on the environment and sustainability

3rd April 2024

Read more

Ben Goodwin reflects on policy, practice and advocacy over the past year

2nd April 2024

Read more

In 2020, IEMA and the Institute and Faculty of Actuaries (IFoA) jointly wrote and published A User Guide to Climate-Related Financial Disclosures. This has now been updated to include three key developments in the field.

2nd April 2024

Read more

Media enquires

Looking for an expert to speak at an event or comment on an item in the news?

Find an expert

IEMA Cookie Notice

Clicking the ‘Accept all’ button means you are accepting analytics and third-party cookies. Our website uses necessary cookies which are required in order to make our website work. In addition to these, we use analytics and third-party cookies to optimise site functionality and give you the best possible experience. To control which cookies are set, click ‘Settings’. To learn more about cookies, how we use them on our website and how to change your cookie settings please view our cookie policy.

Manage cookie settings

Our use of cookies

You can learn more detailed information in our cookie policy.

Some cookies are essential, but non-essential cookies help us to improve the experience on our site by providing insights into how the site is being used. To maintain privacy management, this relies on cookie identifiers. Resetting or deleting your browser cookies will reset these preferences.

Essential cookies

These are cookies that are required for the operation of our website. They include, for example, cookies that enable you to log into secure areas of our website.

Analytics cookies

These cookies allow us to recognise and count the number of visitors to our website and to see how visitors move around our website when they are using it. This helps us to improve the way our website works.

Advertising cookies

These cookies allow us to tailor advertising to you based on your interests. If you do not accept these cookies, you will still see adverts, but these will be more generic.

Save and close