British Property Federation launches climate guide
June 22, 2009
The British Property Federation (BPF) has launched a guide on the carbon reduction commitment (CRC), which is the mandatory cap and trade scheme that could financially penalise companies that fail to control their carbon emissions.
The Government-backed guide has been produced in conjunction with the British Retail Consortium, British Council of Shopping Centres, British Council for Offices, the UK Green Building Council, Royal Institution of Chartered Surveyors and the Investment Property Forum.
The guide explains what the CRC is and what firms must do to comply with the regulations and reduce emissions. The key steps for landlords and tenants are outlined, with advice on:
- how costs should be apportioned between landlords and tenants
- what should happen when a building is bought or sold to/from a party outside the scheme
- how landlords can use the CRC recycling payments to make their whole portfolios more energy efficient
Liz Peace, Chief Executive of the BPF, said, "CRC puts the fight against global warming on balance sheets by hitting firms where it hurts - in their finance directors' cheque books. The property industry is fully behind moves to cut emissions, but the scheme has not been properly thought through. Large areas of uncertainty remain over how you apply the CRC around existing leases. Landlords have no legal remit to influence how tenants use energy. This guide will help, but Government needs to show a lot more flexibility if the aims of the CRC are to be realised."
Recent figures show that over 54% of companies do not know if they are affected by the CRC scheme, while 50% of firms do not currently measure their carbon emissions.
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