The investors say ‘we cannot wait’ for a global treaty following the Copenhagen summit last December.

Four international groups, representing almost 200 investors and US $13 trillion in assets, endorsed the Investor Statement on Catalyzing Investment in a Low-Carbon Economy. The statement was announced at January’s Investor Summit on Climate Risk at the United Nations in New York.

The statement called on national governments to adopt and support short- and long-term targets for reducing carbon emissions. Pointing out the potential competitive advantages, the statement cited Germany’s ‘comprehensive policies [which] have sparked significant private investment in industries focused on addressing climate change, leading to eight times more renewable energy jobs per capita than the United States’.

Back in 2007, the European Union committed to cut its carbon emissions by 20 per cent by 2020 (from a 1990 baseline), and had planned to raise this to 30 per cent if other countries had made a commitment to similar reductions at Copenhagen. In an example of national governments taking independent initiative, the UK government had already set a high target to cut emissions by 34 per cent by 2020.

Supporting this target, the UK’s carbon emissions trading scheme comes into effect from 1 April and participation is compulsory for some large organisations that consume electricity through half-hourly meters.. The CRC Energy Efficiency Scheme will act as an incentive for large organisations to reduce their carbon dioxide emissions by taking up cost effective energy efficiency measures. Participation is compulsory for some organisations which consume electricity through half-hourly meters; the resulting lower energy bills should more than make up for the administrative costs of taking part.

To find out if you must take part, and to learn more about the CRC Energy Efficiency Scheme, visit web pages. 

Sourced from The Environment Agency March 2010