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Carbon reduction scheme poses risks to business

15 June 2009

Shoosmiths will host a free seminar to ease the fears of Thames Valley businesses concerned about risks posed by the Government's Carbon Reduction Commitment (CRC).

The national law firm’s Carbon and Climate Law team will cover all aspects of the compulsory and controversial emissions trading scheme at the 30 June executive briefing, in Reading.

Significant cash flow, financial and reputation risks are faced by those organisations involved in emissions allowance trading.

Shoosmiths partner and corporate specialist Nigel Thorne, who will lead the event, said: “Part of the Government’s carbon reduction strategy, the CRC is expected to affect thousands of non-energy intensive businesses and public sector organisations.

“A minimum 20,000 are expected to face a legal obligation to register and disclose information, and 5,000 of them may be required to participate in purchasing emissions allowances.”

Which is why finance directors, in-house lawyers and company secretaries are set to attend the 8.30am-10am briefing at the firm’s Apex Plaza offices.

The CRC will affect all organisations purchasing electricity through a half-hourly meter settled on the half-hourly electricity market, and if annual consumption is at least 6,000 MWh – based on the 2008 calendar year – full participation in the scheme will be required.

Thorne said: “We’ve been tracking development of the scheme for 12 months and identified the risk issues for businesses.

“At our briefing – as well as a fast track introduction to CRC – we’ll tackle some of the more controversial aspects, including:
• yearly ‘name and shame’ public league table
• impact on cash flow
• potential financial costs

“It’ll help businesses identify whether they’ll fall within the scope of the scheme, what they’ll need to do to establish that, and then what steps to take.”

Places can be reserved by contacting Laura Togher at laura.togher@shoosmiths.co.uk or on 0118 965 8894.

For further information please contact:
Name: Alastair Gray
Phone: 08700 864096
Email: Alastair.Gray@shoosmiths.co.uk

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