Companies face higher emissions levy

Article by By Fiona Harvey, Sylvia Pfeiffer and Jim Pickard

Many thousands more businesses may face the tax at a later date because, under the regulations, a further 15,000 to 20,000 organisations must submit information on their energy use.

While these companies do not yet have to pay for their carbon, with the information the government has gathered it would be easy to extend the charge to them in future.

Property companies fear they will be hardest hit by the tax, which will affect their rental estates.

However, James Cameron, founder of Climate Change Capital, an investment management group with a property portfolio, said it was an opportunity for job creation. "Retro-fitting existing buildings is going to become a massive industry, creating a lot of employment in this country," he said.

To read the full article, visit the Financial Times website.

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Companies face higher emissions levy