UK Government to Force Large Companies to Report CO2 Emissions
From April 2019, the British government will compel large companies to report CO2 emissions, energy usage and energy efficiency measures in their annual reports.
Why the new energy reporting?
By requiring businesses to report CO2 emissions energy consumption, the UK government hopes to encourage businesses and industries to improve their energy efficiency by a minimum of 20% by 2030.
Although there was a reporting scheme in the past – the CRC Energy Efficiency Scheme – this energy reporting structure was deemed to complex for business reporting and was halted. A revised, simplified framework seeks to streamline reporting requirements.
Who will need to report C02 emissions?
According to the department for Business, Energy and Industrial Strategy – “…the new framework will apply to all quoted companies and apply to large UK incorporated unquoted companies and large limited liability partnerships (LLPs) with at least 250 employees or annual turnover greater than 36 million pounds ($47 million) and annual balance sheet total greater than 18 million.”
- large UK incorporated unquoted companies
- large limited liability partnerships (LLPs)
- at least 250 employees OR
- annual turnover greater than 36 million pounds
- annual balance sheet total greater than 18 million pounds
Keep an eye on our Smarter Business needs and updates for more information around this reporting. Better yet, let our expert consultants take care of it for you!