5th August 2020
“The clock is still ticking” was one of 2019’s catchphrases – thanks to Michel Barnier from the European Union. But for some of our Energy Intensive Industries and Climate Change Agreement (CCA) participants, the dial has slowed down a touch thanks to the recent Government announcement and a further extension in the CCA deadline for new applications. The deadline has now been extended by two months until 30th November this year.
Amongst the other outcomes from the recently concluded BEIS consultation were
The tone of the consultation document would suggest that the Government is minded on delivering a new scheme to follow on from the end of the newly extended end date of March 2025. This will no doubt be good news for many of our hard pressed manufacturers working hard to control their cost base and seek to protect their business and return to a “new normal”.
Enabling Net Zero
However, in recent years some organisations may have lost sight of the overall policy intent of the scheme when it was first introduced. Rather than simply offering an opportunity for a tax break through lower Climate Change Levies, the intention was to equally provide resources to fund the organisation’s initial journey to a lower carbon economy and onward to net zero. Having a clear view of your sustainability objectives and well evidenced investment cases is key to ensuring that the resources made available through CCA involvement truly reap the rewards of improving your environmental performance.