Press Releases

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CHBS latest press release:

Press Release from Church House Building Sustainability (CHBS)
October 8, 2009

Cash bonus for energy saving firms

Cash bonuses potentially worth millions of pounds will be paid out to British companies that make a serious commitment to become more energy efficient.

Financial incentives will be payable to corporate groups which introduce energy saving measures, such as improved insulation and more efficient heating or production systems. The money will be paid out under what’s known as Britain’s CRC Energy Efficiency Scheme.

Final details of the scheme were announced yesterday including a name change from the Carbon Reduction Commitment to the CRC Energy Efficiency Scheme.

Under climate change regulations from next April, it will be compulsory for qualifying companies across the UK to report their carbon emissions to the Environment Department (DEFRA). These are being introduced to reduce CO2 output of business and industry to meet the UK’s ambitious target of an 80% reduction by 2050.

Retailers, hotel chains and landlords are among corporates that could benefit from the financial carrot, in the form of the first “recycling payment” expected in October 2011. But companies that do nothing to cut their carbon emissions will feel the stick. They will be forced to pay penalties if their energy consumption does not decrease relative to their turnover. They will also be named and shamed in a list that the Government intends to make public, showing company energy performance levels.

“Money gained from penalties will be used to reward firms that reduce their CO2 emissions,” said Julian Leese, a sustainable building and energy specialist with CHBS consultants in Manchester. “We are busy advising firms how to make their premises more energy efficient and implement energy reduction strategies so they can claim the new cash incentives and avoid the pitfalls of ignoring the new policy.”

Not only will there be fiscal penalties for failing to act on energy efficiency, but a company’s claim to Corporate Social Responsibility (CSR) could also take a knock. Every year league tables will be published, which will make public the performance and relative improvements achieved in energy efficiency and uptake of renewable energy by all companies on the scheme.

Under a separate scheme, Government-backed interest free loans from £3,000 to £400,000 are available for firms that want to modernise and cut their carbon emissions.