Regulatory change to save businesses time and money
A new UK approach to Emissions Trading has gone out to consultation today with the promise of cutting 'red tape' and saving businesses both time and money.
The new plan centres on the creation of a single regulation for the EU Emissions Trading System (EU ETS), replacing the 13-part process which is currently in use. It’s also suggested that small emitters and hospitals will be given the opportunity to ‘opt out’ of EU ETS altogether from 2013, moving instead into a lighter touch alternative scheme.
Consultation with industry on these points and other proposed revisions to the EU ETS regulations, will run from today (May 8) until July 31 2012.
“We have worked closely with industry to develop sensible proposals that will genuinely save companies money and time, while still allowing them to meet environmental goals,” said Climate Change Minister, Greg Barker.
EU ETS is a central part of the EU’s commitment to reduce greenhouse gas emissions in line with the Kyoto Protocol, covering the buying and selling of emission allowances between member states.
The desire to make the process simpler for UK companies and organisations to operate is part of the UK Government’s wide-ranging ‘red tape challenge’.
In addition to the 13-to-one regulation change, and the release of small emitters from EU ETS, a change in the enforcement system is also proposed whereby future regulatory infringements would attract civil, rather than criminal, sanctions. All changes, if approved, will take effect from January 2013, the start of phase III of the EU ETS.
Dr Anne-Marie Warris, chair of the UK’s Emissions Trading Group, welcomed the drive towards ‘regulatory simplification’ adding that group members were being ‘encouraged’ to respond to the new consultation.