Mandatory Carbon Reporting – what is it and does my business need to worry about it?

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Mandatory Carbon Reporting – what is it and does my business need to worry about it?

Mandatory Carbon Reporting dates back to mid-2012 when Defra announced that all business listed on the Main Market of the London Stock Exchange would be required to report their greenhouse gas emissions, starting from the following financial year.

It was the latest in five years of efforts to tackle greenhouse gas emissions in the UK, since the then climate change secretary Ed Miliband had set an ambitious target to cut total GHG emissions by a massive 80% between 1990 and 2050.

The Carbon Reduction Commitment for businesses was part of this too, and with the addition of Mandatory Carbon Reporting, the UK became the first country in the world to require its biggest businesses to calculate and report such data.

A further five years later, as the Climate Change Act 2008 marks its first decade anniversary, businesses of all sizes are now subject to a full raft of reporting requirements both mandatory and voluntary, covering everything from energy use and carbon footprint, to total GHG emissions.

How do I know if my business is affected?

Envantage can help you to decide which mandatory reporting requirements apply to you, as well as any voluntary reporting commitments you might want to sign up to.

Subscribing to voluntary reporting schemes can be beneficial for your business – it sends a clear message that you are committed to environmental concerns, and it can help you to make efficiency improvements in your energy and water consumption, as well as to identify the best green energy tariffs for your usage.

The exact reporting requirements that affect you typically depend on the size of your business, but there can be other factors too, such as whether you are listed on the LSE, or if you operate in a particularly energy intensive industry that has been singled out by the government to receive extra support.

Reducing energy consumption via ESOS

The Energy Savings Opportunity Scheme is a further mandatory energy audit for large British firms, which requires you to reduce carbon emissions while cutting operating costs where possible.

By 2030 it is expected to achieve almost £2 billion in energy savings, while those firms that do not comply could face fines and civil penalties – so it’s worth being on the right side of this trend too.

To speak to our experts about ESOS, CRC and whether you are affected by Mandatory Carbon Reporting, contact Envantage today and we can arrange the necessary energy audits to help you meet your commitments while improving your energy procurement and usage and cutting costs for the future.

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