WIREDGOV

If you are a large company, as defined under the Companies Act, you will be required to disclose your carbon and energy use from 2019.

The new requirements follow a consultation last year and is part of a raft of work to simplify the policy framework for energy and carbon reporting. Government is slimming down the statute book by ending the CRC Energy Efficiency Scheme from next year.

Yet under the proposals published by Government this week, substantially more companies will be required to disclose their energy use and the carbon emissions they are responsible for. The new rules will apply to all quoted and large UK incorporated firms as well as LLPs.

Unquoted companies will have to report their energy use and emissions relating to gas, electricity and transport, and an intensity metric, through their company's Annual Reports. Quoted companies will have to continue to report their global greenhouse gas emissions and an intensity metric, and additionally start to report their global total energy use. 

Companies will also be required to provide a narrative outlining what action the company has taken on energy efficiency in the last 12 months.

A de minimis will exclude very low energy users: those who can demonstrate that they have used less than 40,000 kWh in a 12 month period. There will also be an exemption from disclosure in cases where Director’s think would be seriously prejudicial to the interests of the company (following concerns raised by energy intensive industries re disclosing energy use).

techUK is organising a webinar to help companies who may be newly impacted by the reporting requirements to help them understand what they need to do to prepare. To register interest please click here to contact Lucas Banach.