New CRC standards will benefit top performers

News Article - 23 August 2010
Category: Business

Companies looking to climb the Government's Carbon Reduction Commitment (CRC) league tables will soon benefit from a wider range of options with which to chart corporate climate change progress. The Environment Agency yesterday extended the list of performance indicators, known as Early Action Metrics, which businesses can use to show progression is being made.

Action Metrics are designed for companies that have already made a push to drive down carbon emissions and are now looking at other ways to contribute, but find it difficult to sustain the high percentage emissions cuts achieved in the early stages. Under the rules of the CRC, Early Action Metrics are used by the Environment Agency, alongside other criteria, when compiling league tables.

Businesses looking to take part in the Early Action Metric scheme must voluntarily install automated meter-reading equipment and comply with an approved measurement standard. This certifies the company has implemented carbon management policies and achieved lowered energy usage as a result.

In the early stages of the CRC, companies were only able to use the Carbon Trust Standard but monopoly concerns led the Environment Agency to approve a number of rival standards such as Early Action Metrics over the last few months. This should help prevent the Carbon Trust Standard, a Government-backed company, from dominating the market.

As the Government continues to reward companies proactively managing carbon emissions, firms that do not contribute to carbon reduction may soon find profitability and reputation suffer. A recent survey by the Carbon Trust found that 76% of FDs believe businesses will eventually be required to pay for any carbon emitted. Underprepared businesses that have not taken steps to reduce carbon emissions may find such a scheme completely unmanageable.

All firms should start acting on climate change as soon as possible; the first step is to account for carbon emissions. Access accounting software allows firms to report carbon emissions across all departments, providing a valuable starting point from which to approach focused behavioural change to reduce corporate carbon emissions.

For more information on Access accounting software, please call us on 0845 345 3300.

Article keywords: CRC, accounting for carbon, carbon reduction, green business, green legislation, environment, accounting software, access group.

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