From 1 April, companies in the UK will be able to participate in one of the world’s first national greenhouse gas emissions trading schemes. The Government, in consultation with the industry-led Emissions Trading Group, has designed a scheme by which companies can trade allowances awarded to them in exchange for their commitment to reduce emissions of CO2 and other greenhouse gases.
The Government has provided £215m to be awarded to companies that agree absolute emissions reductions for a five-year period commencing on 1 January this year.
