news from the BRE Group
published: 30/8/2011
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New scheme to channel millions to UK carbon-cutting projects
Launched today, the UK Carbon Reporting Framework aims to help companies achieve their environmental goals by channelling millions of pounds into local schemes which will help the UK meet its carbon reduction targets and green the economy.
Developed in a partnership between BRE, British Airways, Deloitte and Forum for the Future, the Framework acts as a matchmaker between carbon reduction projects such as community owned renewable energy installations or the sustainable refurbishment of social housing and organisations wishing to support such projects in the UK.The Carbon Reporting Framework is being launched at Deloitte’s London offices today - British Airways will be the first company to support the scheme through their new One Destination Carbon Fund.
Jonathon Counsell, Head of Environment, British Airways said: “The UK Carbon Reporting Framework marks a milestone for carbon management in the UK and British Airways is incredibly proud to have been a founding partner and the first user of the framework. Through our new One Destination Carbon Fund, which is due to be launched in September, our customers can, help support carbon reduction projects based in the UK – something that has not previously been available.”
Peter Madden, Chief Executive of Forum for the Future said “This is an innovative approach to tackling climate change. The Framework enables funders to support projects that have clear links to their work and the communities in which they operate. It should result in more money going to tackle climate change, create green jobs and will work well alongside other schemes in helping the UK meet its targets.”
A major barrier to a greater level of UK corporate support for local projects has been uncertainty about the carbon reduction and other benefits that funding organisations can claim to have been achieved as a result of their support. This is where the UK Carbon Reporting Framework aims to play a key role. It will enable companies to understand the impacts of their investment, so they can make the appropriate claims on the carbon savings and associated project benefits.
To achieve this, the Framework will require carbon reduction project developers to use standardised carbon accounting methods to calculate the reductions associated with their projects. Where these already exist such as the Woodland Carbon Code they will be used. Where they are required BRE have initiated the development of some new methodologies and will work with appropriate sector expert organisations to develop new ones going forward.
Guy Battle, head of Deloitte’s sustainability services: “There is increasing demand from businesses for a framework to facilitate investments of this type in the UK. The UK Carbon Reporting Framework will help bridge this gap. It will bring benefits to the communities through the projects funded, project sponsors through increasing the reach of their sustainability programmes and also the environment by securing carbon reductions. Deloitte is pleased to be supporting the Framework which offers our clients another way to implement carbon reduction opportunities outside their own boundaries.”
‘Our research and other evidence strongly demonstrates that UK corporates want to support carbon reduction projects in this country’, says Jon d’Este-Hoare of BRE, ‘there is also a ready supply of high quality projects in need of funding. ‘UK-based carbon reduction projects do not qualify for carbon offsetting schemes, but offsetting is not the only way – or motivation – for companies to support these projects. The reasons why companies want to support UK based projects are many and varied, for some it may be the opportunity to support projects which have a direct impact on the lives of their staff and customers, for others it may be about communication – solar panels on the local school are easier to understand than a carbon offset project overseas.’
The Framework provides a database that will match projects with funders. Carbon reduction initiatives and community groups can now go to a website at www.ukcarbonreporting.org to register their projects. Funders will find authoritative information on the benefits their support can achieve, and find out how best to integrate supporting UK projects into their carbon management plans.
For further information contact Linda McKeown, BRE 01923 664569 mckeownl@bre.co.uk
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