Climate change - UK
Enters into force - 30 December 2016
The Climate Change Agreements (Administration) (Amendment and Related Provision) Regulations 2016 amend the Climate Change Agreements (Administration) Regulations 2012. Companies failing to meet targets under climate change agreements between 1 January 2017 and 31 December 2019 will be required to pay an increased ‘buy-out’ fee of £14 for every tonne carbon dioxide equivalent the targets have been missed by. The buy-out fee is currently £12 per tonne carbon dioxide equivalent.