The UK government has set a target for 2020 of cutting carbon emissions to 34% below 1990 levels. The UK’s energy infrastructure needs £200bn in investment over 20 years.
UK businesses are subject to a complex framework of energy and climate change policies. Some impose a direct cost on the amount of energy that businesses consume, in particular the Carbon Reduction Commitment (CRC) Energy Efficiency Scheme, the Climate Change Levy (CCL), Climate Change Agreements (CCAs), the European Union Emissions Trading System (EU ETS) and the Carbon Price Floor (CPF). Under the Companies Act 2006 (Strategic and Directors’ Reports) Regulations 2013, quoted companies are required to report their annual greenhouse gas (GHG) emissions in their directors’ report. This came into force in October 2013.
Other policies provide financial support to some businesses which invest in low-carbon and energy efficiency technologies, without directly affecting electricity costs. These include the Renewable Heat Incentive (RHI) and the Green Deal. Subsidies.
Is your company compliant with all of the above policies, if you are unsure Giraffe is here to help.