Trucost Blog / 20 Jul 2010

Investment needed to cut carbon in schools

Local authorities to be made responsible for emissions from schools under the Carbon Reduction Commitment Energy Efficiency Scheme (CRC).

UK Government plans to scrap investment in refurbishing schools could force local authorities to spend money on carbon permits and penalties instead of energy efficiency in buildings.

Local authorities will be responsible for emissions from schools under the Carbon Reduction Commitment Energy Efficiency Scheme (CRC). They will need to purchase an allowance at £12 for each energy-related tonne of carbon dioxide emitted from April 2011. Organisations that improve energy efficiency through cost-effective measures such as low-energy lighting and thermal insulation could cut CO2 emissions, as well as energy and carbon costs.

However, the Government announced this month that it was ending a Building Schools for the Future programme, which spends up to £3 billion of capital investment annually on measures including energy efficiency to reduce emissions. The budget cuts could see taxpayers’ money recycled to private companies that reduce their emissions and are ranked higher than schools in a performance league table.

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The GreenFin Summit follows a successful launch event in 2019. That invitation-only event brought together 100 corporate sustainability leaders, major public-sector pension fund executives and leading financial institutions, with over a trillion dollars of combined assets under management. The discussion broached vital topics in ESG that will be expanded upon at the 2020 Summit. Richard Mattison...

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