In recent green news, Ralph Pettengell, the chief executive at Carbon Footprint Investments has warned UK and European companies that they may be penalized soon. He explained that the UK government may soon start to penalize companies that are carbon inefficient.
As Mr. Pettengell explained, "Any company that exceeds its limits will be fined per tonne of carbon dioxide and this may equate to millions of pounds. Taxation can wipe out a company's profits.”
He went on to explain that the UK government has its eye on the top 4000 companies in the UK at the moment, seeing what their carbon output is. He explained that this is just the start and that the IFAs need to reshape their clients’ portfolios.
He explained that, according to Mr. Pettengell, the government believes that there is, indeed, a direct correlation between carbon and energy prices. And, he continued, any company that moves towards being more carbon efficient will also be more profitable and more successful. Time will tell if these green penalties and ideas will really work.