From: Environmental Law ReSource
This post was written by Luca Salerno and Siobhan Hayes. In earlier
postings we have introduced the UK’s Carbon Reduction
Commitment (Energy Efficiency) Scheme (“CRC”) and have
considered the impact for companies and groups and penalties for
non-compliance. This note considers briefly what the problems
are in the legal classification of carbon emission allowances and
the issues that will need to be resolved by the time businesses
start trading them.What will a CRC allowance be? Will an
allowance be private property or an administrative grant or a
licence? And are the Regulations going to create the method
and mechanism for trading allowances? Properties and companies
are going to be bought and sold and organisations will have to
offload or acquire...
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