UK Gives Tesco, Hilton 1-Year Passes on Buying Carbon Permits
Larger non-utility, non-manufacturer polluters in the UK are getting a one-year reprieve on having to purchase carbon offsets, reports Bloomberg.
Starting in April 2011, large companies such as Tesco, Hilton and Kingfisher, among others, will have to purchase offsets at about $19 per ton of emissions. The companies must begin measuring their emissions next year. The new rules apply to any company, university or government agency that consumes more than 6,000 megawatt hours of power annually.
The UK is not letting more than 1,000 utilities, large manufacturers and mines off the hook, however.
Companies that buy permits and are able to demonstrate that they have cut emissions since purchasing the permits will be reimbursed a pro-rated amount.
Starting in 2013, the UK government will cap the amount of emissions allowances available, selling them at auction.
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