The latest carbon emission savings device – the Carbon Reduction Commitment

 The 2007 Energy White Paper proposed a Carbon Reduction Commitment scheme which fills some of the very large gaps in the Emissions Trading Scheme but continues the ETS policy of “cap and trade” as a way of reducing carbon dioxide emissions.

The Carbon Reduction Commitment (which I shall now call CRC) aims to reduce emissions by 1.2 million tonnes of carbon (or do they mean carbon dioxide) by 2020. I always think it hard to “cap and trade” in an item like carbon dioxide that has no commercial value; it is all rather artificial and involves a long lead in time before those aimed at have to undertake carbon reduction measures. Continue reading