Carbon Reduction Commitment, CRC

As announced in the 2016 March Budget, the CRC scheme will close following the 2018-19 compliance year. A statutory instrument to this effect was introduced in July. CRC participants are required to report for the last time by the end of July 2019 and surrender allowances for emissions from energy supplied in the 2018-19 compliance year by the end of October 2019.

Our energy partner, LG Energy have prepared a factsheet for SECR (Streamlined Energy & Carbon Reporting (SECR)).

This is compliance which is replacing CRC and starting as of 01st April 2019. SECR is for reporting on consumption, transport costs and GHG emissions which will needed to be included in the April 2019-March 2020 financial report for companies who are captured. If a company has their financial year different to this (eg. January –December). Then they will not need to start reporting until the start of their next financial year (eg. January 2020).

Some companies will already be adhering to this via ISO14001 or ISO50001 but the majority will need to employ a company to help assist with it.

OFAC AMEND CERTAIN PREVIOUS GENERAL LICENSES BY EXTENDING THEIR EXPIRATION DATE

12 October 2018

Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) extended the expiration date of certain general licenses related to United Company RUSAL PLC (RUSAL).

The General Licenses 13E, 14B, and 16B amend certain previous general licenses, by extending the expiration date from 12 November 2018 to 12 December 2018.

We will keep you informed about any further developments.

SEE OFAC’S OFFICIAL PRESSPLEASE RELEASE