UK Climate Change Act
The Climate Change Bill finished its passage through parliament on 18th November 2008 and was enacted by Royal Assent on 26th November 2008. The Act makes the UK the first company in the world to have a legally binding framework to cut carbon emissions.
Key Provisions of the Act
The Act puts into statute two key targets to reduce carbon dioxide emissions:
- By at least 26% by 2020
- By at least 60% by 2050
The Government must publish five-yearly carbon budgets from 2008. The Act also creates a Committee on Climate Change which will advise the Government on the levels of carbon budgets to be set, the balance between domestic emissions reductions and the use of carbon credits, and whether the 2050 target should be increased.
Ramifications for Business
At present, this is unclear. Amongst the initial objectives of the Bill was the desire to allocate UK businesses a carbon emission quota. At present, this remains the subject of much debate and conjecture. It seems to be only a matter of when, not if, tax breaks and other financial incentives (and penalties) are introduced for the private sector. These will mean that:
- Companies who are "under budget" will be able to sell carbon credits
- Companies who are "over budget" will be forced to buy carbon credits
- Companies who reduce carbon footprint will improve productivity
Therefore, companies that take action now will be in a far stronger position. We can help.
Reducing carbon footprint through communications
Reducing carbon footprint through reprographics
