Carbon Reduction Commitment (CRC) Energy Efficiency Scheme
DEFINITION: A mandatory carbon emissions reduction scheme in the UK that applies to large non-energy-intensive organisations across the public and private sectors. The scheme is divided into a number of phases, with each phase lasting five years. Currently, the scheme is in its second phase running from April 2014 to March 2019. However, the Government announced in 2016 that the CRC Energy Efficiency Scheme will be abolished following the 2018-19 compliance year.
See also: Fifth carbon budget