British companies have just a few weeks left to register for the government led Carbon Reduction Commitment (CRC) yet almost three quarters are yet to do so.
This week, 74% of finance heads from UK companies with more than 500 employees said their companies have not yet measured their carbon footprint and enlisted in the CRC programmes, according to the Carbon Trust.
The CRC Energy Efficiency Scheme is designed to improve the energy efficiency in large, low energy-intensive organisations not already covered by the UK Climate Change Agreements and the European Union Emissions Trading System.
Around 5,000 large public and private sector organisations, such as supermarkets, water companies, banks and local authorities, will need to purchase carbon allowances in the next few weeks to cover their emissions from April 2011 under the scheme.
“Only a minority have taken action so far and these early movers have a clear advantage. Building carbon management into the DNA of the business now not only ensures preparedness for future compliance requirements but also brings immediate cost and efficiency benefits and competitive edge," commented Harry Morrison, General Manager of the Carbon Trust Standard Committee.
From 30th September all companies who spend approximately £500,000 on their annual energy bill are required to register under the CRC and pay for energy related carbon emissions.
However, the Environment Agency need to run checks on those business’ senior directors responsible prior to registration. This could take between two and four weeks, meaning the deadline is shortened to 2nd September.
Any business that misses the deadline faces an initial £5,000 fine and a daily charge of £500 until registered, up to a maximum of £45,000.
