CRC Energy Efficiency Scheme - is bad policy better than no policy
- When?
- Thursday 22 November 2012, 13.00 hrs to 14.00 hrs
- Where?
- 45A AZ 04
- Open to:
- Alumni, Public, Staff, Students
- Speaker:
- John Davis, Sustainability and Environmental Manager, University of Surrey
- Admission price:
- No charge
The CRC requires large organisations to measure their annual carbon dioxide emissions and charges them £12 for every tonne they produce. The original intention was that it should be revenue neutral. A league table of achievements would be created with those at the bottom being financially penalised whilst those at the top would be rewarded. The intention was that this would create financial and reputational incentives for carbon saving.
In the autumn of 2010 just before the scheme went live, and as part of the comprehensive spending review the Chancellor saw the opportunity to recover around £1bn by removing the scheme recycling payment. The concept of reward and penalty was removed with the Treasury retaining all the revenue generated. At a stroke a key element of the policy disappeared.
This short seminar provides some background to the scheme, the impact on businesses such as the University and whether the policy should remain as part of the Governments carbon reduction strategy.