Businesses covered by the Carbon Reduction Commitment (CRC) will be aware that the scheme was established as revenue neutral, i.e. that the revenues generated by the scheme would be recycled to the best performing participants. As part of the Comprehensive Spending Revenue, DECC issued the following press release “Revenue raised from the Carbon Reduction Commitment (CRC) will be used to support the public finances (including spending on the environment), rather than recycled to participants.”
This will come as a shock to many Commitment participants who had believed that good performance would help them recoup some or all of their contributions. Now it appears that CRC revenues will instead be used to support the public finances.
Here is the link to the DECC Press Release.
We have started a discussion thread on our Facebook page where we’ll post more information as it becomes available.