Following the publication of the latest and final Carbon Reduction Commitment (CRC) Performance League Table, IEMA issued the following statement:
“Although this is the last set of league tables under the CRC scheme, companies will still have to submit performance data in future years and pay for allowances. With the delays that have occurred this year, due to concerns regarding the accuracy of the data reported to the regulator, the key question the Environment Agency needs to answer is what measures will be taken to ensure accuracy of the data in future. Although there are provisions within the regulations for fines for inaccurately reporting data, what action will the Environment Agency be taking to ensure companies comply?. Accurate data not only underpins the CRC as an environmental tax and affects how much money companies will pay for their CRC allowances but also is critical for the reputation of the scheme, and to ensure a level playing field between scheme participants.
The CRC scheme is also still failing the business test for long term policy certainty. Setting a carbon price until 2016 for CRC is a step in the right direction in giving business an allowance price against which they can invest in energy efficiency. However, a further review planned for 2016, with the stated intent of removing the tax element, undermines the ability for business to optimise investment for the long-term.
We still urgently need a long term, consistent policy framework to provide businesses with the confidence to invest in low carbon and energy efficient improvements. A further review in 2016 undermines this,” said Martin Baxter, Executive Director, Policy, at IEMA.
Posted on 27th February 2013
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