0370 270 6000

Search

Search Mobile

collapse

already registered?

Please sign in with your existing account details.

Email address

Password

Sign in with LinkedIn

need to register?

Register to access exclusive content, sign up to receive our updates and personalise your experience on brownejacobson.com.

Privacy statement - Terms and conditions

Register with LinkedIn

Forgotten your password?

collapseSign

Home

Insights & events

Resources

Blogs

Should the CRC Energy Efficiency Scheme become a tax on carbon

Should the CRC Energy Efficiency Scheme become a tax on carbon?

25 February 2011

As part of its commitment to reduce UK carbon emissions the previous UK government announced the CRC Energy Efficiency Scheme – a cap and trade scheme whereby permits had to be purchased by companies based on the level of carbon produced. The money raised from the sale of carbon permits was going to be recycled to the scheme participants based on how effective they were at reducing their carbon emissions.

The current coalition government wants to simplify the CRC Energy Efficiency Scheme by scrapping the recycling of payments. Critics have said that this would simply be adding an additional tax burden on business. However, a study published yesterday by the European Commission shows that taxation of carbon can be a very effective driver of innovation.

Taxation is definitely not a popular option for firms, however it is something the government should consider, especially during the current budget difficulties.

Related opinions

Carbon accounting for SMEs: what’s your carbon shoe size?

SMEs need to get a handle on their carbon footprints now to help identify where carbon, and financial savings can be made.

ESG for Beginners

As you probably know by now, the acronym 'ESG' stands for environmental, social and governance. Although the investment community initially coined the term, it has grown into a larger concept that can be applied more broadly to any business or practice.

COP26 starts this Sunday and will be vital for business: Browne Jacobson will be tracking the developments

This is a key moment for addressing the risks and opportunities that climate change presents to businesses. We look at what COP26 will likely mean for your business.

Meat-free expenses claims

Some schools have hit the headlines this week for their decisions to offer only vegetarian meals. But would a similar approach extend to the workplace?

View all blogs

Ben Standing

Partner

Mailing list sign up

Select which mailings you would like to receive from us.

Sign up

Quick links