UK Launches compulsory GHG reporting
The UK is going to be the first country to force public companies to publish full details of their greenhouse gas emissions under plans announced by the government this week.
In an announcement from Nick Clegg at the Rio+20 conference, every company listed on the London stock exchange - including some of the largest corporate names in the world such as Tesco, BP, Sky & Lloyds Banking Group - will have to provide detailed accounts of their CO2 and other greenhouse gas emissions from April 2013.
Officials calculate that this reporting requirement will unlock company's ability to improve performance and reduce stress on natural resources, with initial estimates suggesting that there will be a directly attributable saving of more than 4 million tonnes of CO2 emissions over the next ten years.
Nine out of ten chief executives say that sustainability is fundamental to their success, and we're excited to see the changes that this policy can bring about in the way that big business approach emissions reporting and management.
Secretary of State for the Environment, Caroline Spelman said:
“The discussions we’ve had with businesses show that they want to cut down their greenhouse gas emissions, and they want to be open and transparent about it. What they have asked for is a level playing field so that they can be fairly judged against one another, and we have delivered that today.
“Investors are now looking hard at the green credentials of businesses, and the reporting of green house gas emissions will give them vital information as they decide where to invest their money.”
More than 75% of UK adults believe that companies should already be reporting on their carbon footprint, and this move from the UK government is a big step in ensuring that this happens.
We've already helped many of our clients take control of their sustainability data, and have real world experience of delivering the changes that can be brought about just by being able to understand where your emissions come from. We've helped our clients report and engage using all kinds of sustainability metrics and we can't wait to embrace the challenges this change in policy will bring.
If you'd like to talk to us about sustainability reporting and how to make sure your GHG data is communicated effectively, then please - get in touch.