By Angus Evers, Grace Mitchell
After abolishing the CRC Energy Efficiency Scheme, the government has made regulations requiring additional reporting by quoted companies, large unquoted companies and large LLPs on greenhouse gas emissions, energy consumption and energy efficiency action.
On 1 October 2018, the regulations abolishing the CRC Energy Efficiency Scheme (CRC Scheme) after the end of the 2018-19 compliance year came into force, although there will be ongoing compliance obligations, some of which last until March 2025. The revenue lost from the sale of emission allowances will be replaced by increasing the main rates of climate change levy from April 2019. To replace the reporting aspects of the CRC Scheme, additional requirements for quoted companies, large unquoted companies and large LLPs to report on greenhouse gas emissions, energy consumption and energy efficiency action will come into effect on 1 April 2019.