SOLVE YOUR SECR COMPLIANCE ISSUES
SECR is the Energy & Carbon Reporting framework that replaces the CRC Energy Efficiency Scheme (formerly known as the Carbon Reduction Commitment).
With over 12,000 organisations now obliged to comply with SECR, all quoted companies plus many unquoted organisations are directly affected.
Are you new to SECR?
Reporting Carbon Emissions may be new to you, but it’s not new to us. Here at Envantage, we’ve been working with accountants, auditors and some of the largest business in the UK to measure greenhouse gas emissions for organisations for 14 years, since the inception of Mandatory Carbon Reporting. Our experience is unrivalled, giving you peace of mind.
SECR came into force on 1st April 2019. In your first accounting period beginning after that date, you will need to quantify your energy consumption from electricity, gases, and business transport. You are also be obliged to report energy against an intensity metric and compare your performance year-on-year.
All of this information needs to be published in the Director’s report within your published accounts, for the transparent view of your stakeholders. You will also need to publish a narrative about the energy efficiency measures you’ve taken during a reporting period.
How do you know if SECR applies to you?
All quoted companies in the UK are already included within SECR. If you have not taken care of how you will report, you need to make arrangements now. Envantage can help. Email us today.
If you are in an unquoted company, SECR will apply to you if:
– You employ 250 or more people
– Annual Turnover is more than £36 million
– your Annual Balance Sheet is more than £18 million
Already familiar with Mandatory Carbon Reporting?
Note that from 1st April 2019 the requirements have changed slightly. You need to be sure that you are reporting correctly from 2019 onwards, and how these new requirements might affect your business.
ASSURE YOUR COMPLIANCE
SECR is an important part of your obligations under the Companies Act 2006, and your published results can be subject to official audit by HMRC. It’s essential that you know your SECR compliance and reporting is in safe hands.
By choosing the right partner you can get on with your day job in the knowledge that your compliance is being dealt with professionally.
Is there any benefit to your organisation?
SECR is an important regulatory obligation and carries penalties for non-compliance. However, the scheme is aimed at helping organisations to identify and reduce energy emissions. Publishing emissions data helps your stakeholders to understand your approach to energy consumption and can be an invaluable way to promote positive brand values.
Many organisations also use the information required for mandatory submissions as a start point to measuring their own full Carbon Footprint. Why not take the next step and build a complete view of your Carbon impact? The brand benefits of this can be significant: ask us how we can help.