Are you Compliant?

Streamlined Energy and Carbon Reporting

Following the implementation of the Streamlined Energy and Carbon Reporting (SECR) policy on 1 April 2019, all quoted companies, large unquoted companies and large LLPs are obliged to report their energy use and associated greenhouse gas emissions.

Independent and impartial assurance on the accuracy, completeness and consistency of your energy use, GHG emissions data and energy efficiency action is encouraged as beneficial to both internal decision-making and for external stakeholders.

Reporting Requirements
Benefits of Reporting

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Reporting Requirements

SECR will impact all quoted companies as well as any unquoted companies, LLPs and groups that exceed at least two of the following three thresholds:

£36m annual turnover
£18m balance sheet total
250 employees

Where a large company has consumed less than 40MWh of energy in a reporting period, it qualifies as a low energy user and is exempt from reporting under the regulations.

Qualified unquoted companies and LLPs need to report their UK energy use and associated greenhouse gas emissions as a minimum relating to gas, electricity and transport fuel, as well as an intensity ratio and information relating to energy efficiency action, through annual reports. Quoted companies of all sizes continue to be required to report their global greenhouse gas (GHG) emissions and an intensity ratio through their annual reports.

Additionally, they are now required to report their total global energy use and information relating to energy efficiency action alongside the methodology used to calculate the new and existing disclosure requirements.

SECR will be enforced by The Conduct Committee of the Financial Reporting Council and financial penalties will be issued. Fines for the Energy Saving Opportunity Scheme (ESOS) were very high (fines of more than £40,000 have been issued) so ensure your compliance today.

Benefits of Reporting

The policy aims to bring the benefits of carbon and energy reporting to more organizations at a time when investors and stakeholders are increasingly requesting better environmental disclosures.

There are direct benefits to your organization in the measuring and reporting of environmental performance. It will encourage the implementation of energy efficient measures that can cut costs and reduce carbon emissions. It will also allow you to have a better understanding of exposure to the risks of climate change, demonstrate leadership and help strengthen green credentials and brand image.

Utilizing the energy and carbon report service from SGS United Kingdom Ltd will not only give you peace of mind that you comply with the requirements of SECR, but it will also reassure your stakeholders and improve your organization’s reputation. In addition, it ensures the transparency and validity of the information you make public and allows you to reinforce your internal reporting processes and procedures to ensure the strength of future reports.