At the end of June this year (2012) the Government announced that carbon reporting will be mandatory for all quoted companies from April 2013.
It is likely that data covering scope 1 and scope 2 emissions will be required to be reported in an organisation’s annual reports, with scope 3 or supply chain emissions being voluntary. The UK is the first country to make it compulsory for companies to do this, with the intention of enabling investors to see which companies are effectively managing the hidden long-term costs of greenhouse gas emissions.
The detail of the new requirements is yet to be decided, with a formal written consultation on the draft regulations due to be published in August 2012; however, it is expected that reporting will follow operational boundaries, cover all six Kyoto greenhouse gases and adhere to a specified methodology, such as Defra’s own guidance or ISO 14064.
In reality, many of the affected companies are already measuring and some reporting these emissions, but this new legislation will create a level playing field for quoted companies. The Government has committed to reviewing the costs and benefits of the regulations for quoted companies in 2015, ahead of a decision in 2016 on whether to widen the regulation to include all large companies.
Whether you are new to carbon reporting or just want to check if you are doing everything that you need to, Valpak’s team of carbon footprinting experts can support you with producing appropriate measurements and help you to reduce your environmental impact.
For further information, please contact a member of the team on 0141 548 8210.