KPMG has warned that UK businesses participating in the upcoming Carbon Reduction Commitment (CRC) may experience a major cash flow impact because of the scheme. The consultancy firm advised its clientele to begin appraising their CO2 emissions soon, so that they will be knowledgeable of their emissions and can prepare to go through the Commitment smoothly.

The CRC will be incorporated into legislations via the forthcoming Climate Change Bill and will come into effect from October next year. Around 10,000 organizations excluded from the EU emissions scheme will be part of this new Commitment that also includes the public sector.

KPMG also asserted that firms purchasing green electricity will also be part of the CRC, which will have all organizations that spend over

Tags: Britain, Carbon Emissions, Carbon Reduction Commitment, CRC, Emissions Trading Scheme, KPMG, UK

New Zealand will host a conference of climate specialists this week where talks will be held if Aussies and Kiwis can have their emissions schemes linked with each other to have a wider range of abatement options. Critics like KPMG climate change analyst Antony Cohen believe this can shoot carbon permits prices to $40 per tonne in Australia and can also increase electricity rates by 30%.

Aussies currently plan a scheme which will restrict import of carbon permits and will totally disallow their export, whereas New Zealand does not have any such restrictions in their scheme.

The 4th Australian-New Zealand Climate Change and Business Conference (PDF) will be held in Auckland from August 18-20 and Rudd will meet Kiwi PM Helen Clark to consider the carbon trading schemes.

Tags: Antony Cohen, Auckland, Australia, Carbon Market, Carbon Permits, Carbon Trading, Emissions Trading Scheme, Gary Taylor, Helen Clark, KPMG, New Zealand, Rudd