Climate change levy: new bureau to encourage energy efficiency

A new climate change bureau to encourage UK business to invest in efforts to cut greenhouse gas emissions overseas is to be launched bythe government.

The latest step in the drive to cut emissions, the Climate Change Projects Office (CCPO) will help British firms take advantage of new opportunities and markets in low-carbon technology. The CCPO will be guided by a steering committee chaired by Nick Baldwin, Powergen's chief executive. It will provide advice and support for businesses interested in carrying out projects under two 'Kyoto mechanisms', Joint Implementation and the Clean Development Mechanism.

The government has also today unveiled draft proposals for an Emissions Trading Scheme - a measure that could cut carbon by at least two million tonnes a year by 2010. A draft framework for the scheme, due to start in April 2002, is published today along with a summary of responses to the government'sconsultation on emissions trading and an expert report on an auction for the scheme's financial incentive. The government has pledged in 2003-04, to be allocated through a bidding system, as a financial incentive for companies to join the scheme.

The draft framework includes details of how companies can join the scheme and the incentives on offer, as well as possible penalties fornon-compliance. Details of the emerging framework will enable business to plan for entry to the scheme.
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