CRC is scheduled to come into effect in April 2010. CRC is a cap-and-trade scheme which seeks to reduce carbon dioxide emissions from large non-energy intensive organisations in both the public and the private sector. It is designed to create a shift in awareness, behaviour and infrastructure.
The scheme will involve approximately 5,000 organisations and will deliver at least 4Mt CO2 savings by 2020 through improvements in energy efficiency. By driving energy efficiency, the CRC will deliver emissions reductions cost-effectively, saving participants money and enabling sustainable growth. This will yield a benefit to participants of �1 billion by 2020.
Participants will also be rewarded for their improvements in energy efficiency by receiving a revenue recycling payment. Performance in the scheme will be made public, adding a reputational incentive for participant organisations. The consultation was launched on 12th March and closes at 5pm on Thursday 4th June 09.
Posted on 30th March 2009
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