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6. Results of CDP Ireland 2011: ISEQ 40


Irish companies with UK operations recognise how the UK Climate Change Levy and Carbon Reduction Commitment schemes would affect their UK operations. Certain Irish companies with UK operations note that the UK Carbon Reduction Commitment scheme results in a significant additional cost each year. Others note that the level of carbon tax costs in Ireland is somewhat of an uncertainty for their businesses going forward.


Generally, more respondents note a larger focus on regulatory risks than opportunities. 58% of respondents (11 out of 19) identify climate change related opportunities associated with changes in regulation (see figure 6). The most commonly cited opportunities in this area relate to carbon taxes. Tesco noted that “Well-designed taxes are an opportunity to reduce emissions at lowest economic cost”.


Other regulatory opportunities that are most commonly mentioned by respondents included fuel/energy taxes and regulation, cap and trade schemes, general environmental regulations, and product labelling.


Interestingly, respondents also note that the use of carbon efficient labels is a key strategic factor to differentiate their business from their competitors.


“ The introduction of the Carbon Reduction Commitment Energy Efficiency Scheme (CRC) in the UK will have a direct cost impact for UK subsidiaries.” DCC plc


“ The opportunity for Diageo under a cap and trade scheme is the ability to generate income from the sale of excess carbon credits. Since Diageo has emitted less than its allocation every year since the EU-ETS programme began, we are already taking advantage of this opportunity. In 2009, we generated over €400,000 from the sale of these credits.” Diageo plc


“ CRH’s cement plants are ideally suited to the use of alternative fuels and thus


contribute to regional CO2 emissions reduction in their area of operation.” CRH plc


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