The introduction of two carbon cutting Government incentive schemes will see homes and businesses playing a key role in contributing to UK emissions reductions of at least 34% on 1990 levels by 2020 through improved energy efficiency and small-scale low-carbon electricity.

The Government's Carbon Reduction Commitment Energy Efficiency Scheme (CRC EES) for organisations and Feed in tariffs (FITs) will help to save money on fuel bills, reduce carbon emissions and generate their own low-carbon electricity.

Secretary of State for Energy and Climate Change, Ed Miliband, said: "The rewards for businesses and householders who act to cut their carbon emissions really start to pay off. It’s no longer simply about doing the right thing for the environment, it’s now a sure-fire financial investment.

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"The UK is leading the way in tackling climate change. Organisations and householders can play a central role in leading the move to a low carbon economy whilst saving money on their energy bills."

The CRC Energy Efficiency Scheme launched aimed at saving public and private sector organisations around £1billion per year by 2020 through cost effective energy efficiency measures that are not yet being taken up.

The aim of the CRC Energy Efficiency Scheme is to help change behaviour and will require large public and private sector organisations like supermarkets, hotels, hospitals, local authorities and central government departments, to improve their energy efficiency.

All revenue raised from the sale of emissions allowances will be recycled back to participants with those who have increased efficiency receiving more of this money. Customers, clients and competitors will also to see that their organisation is a leader in tackling climate change. They will be able to generate further income from selling any unused permits.

Though the scheme has officially launched organisations have until September to register. Businesses can start saving on their bills immediately through implementing cost effective energy efficiency measures. By 2020 the scheme is expected to have delivered emissions savings of at least 4.4 million tonnes of CO2 per year.

(CD/GK)