The meeting of nations in Copenhagen has been touted by some senior notables, including Britain’s prime minister, as one of the most important and far-reaching summits of our time. Such comments point toward a great need for action, even as political differences rise once again to the fore. In Britain, the government has already initiated its own CRC Energy Efficiency Scheme, due to start impacting 5000 or so businesses in the very near future.

The CRC Energy Efficiency Scheme is still a subject of much confusion and trepidation. While the very largest industries in the country have been used to heavy regulation within a European trading scheme for some time, this new legislation is much wider reaching and calls for a significant commitment across a broad range of sectors.

The program represents a “cap and trade” trading scheme, where heavier polluters will be significantly penalized, unless and until they can reduce their energy consumption. The more punitive measures associated with the CRC Energy Efficiency Scheme will not be seen until 2013, but businesses have to set the groundwork and establish their liabilities in the lead up to that time.

Many have said that the CRC Energy Efficiency Scheme is very complex and overly cumbersome. However, even though only 5000 or so organizations are now affected, it could represent just the start of a much broader and complex program. Few doubt that should this be effective, it will be enlarged.

Organizations must certainly face a challenge as they try to understand and engage with this scheme, but the challenge should be viewed as an opportunity and not a threat. If cost savings and efficiencies are achieved which might not otherwise have been seen, then in addition to the reduction of emissions, the business will be more fit financially.

The United Kingdom faces many educational challenges as the CRC Energy Efficiency Scheme approaches. Some surveys indicate that a large number of organizations still remain uncertain and are struggling to comprehend the many intricacies of the program.

There may be several years before the energy efficiency scheme starts to really bite and the UK government may be being cautious, but organizations nevertheless need to comprehend what is going to happen in the future. If they do not take action now, they will be worse off than those who do. Change may be seen as a threat, due to the perception of competitive disadvantage ahead.

Early action by organizations should include certification by the Carbon Trust Standard. Through the installation of smart metering, organizations can achieve an early leadership position on the CRC Energy Efficiency Scheme’s reputation league table. Credibility and reputation represent a very large part of the program.

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