The Consequences
Fines. Auditors appointed by the Government will check up to 20% of all Evidence Packs each year.
Fines are significant. Initial fine of £5,000 for any organisation failing to register, followed by fines of £500 per day until the participant does register. Fine of £40 per tonne of CO2 for amounts incorrectly reported (over 5%). Fine of £5,000 for failure to provide an annual report.
Your Reputation may suffer. Organisations which fail to comply may be publicly named . Your league table position will be at risk - you may be placed at the bottom of the league table. You may be ‘named and shamed’ in the media.
The League Table. At the end of each annual reporting period, the Government will publish a performance league table that will rank participants based on their performance relative to other participants. The league table will determine whether or not you receive a refund each October.
In year 1 the bonus/penalty rate will be +/- 10%
This increases to +/- 50% for the 5th year of the Scheme.