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Complying with the Streamlined Energy and Carbon Reporting regulations

 Streamlined Energy and Carbon Reporting regulations

Streamlined Energy & Carbon Reporting (SECR) is a new industry legislation that was introduced in April 2019, replacing the Carbon Reduction Commitment (CRC) scheme. The scheme changes the requirements for energy and carbon emissions reporting, putting more responsibility on organisations to choose how they measure and report their emissions.

As of April 1st 2019, Streamlined Energy & Carbon Reporting (SECR) commenced, with the aim of simplifying carbon and energy reporting and promoting energy efficiency. SECR requires businesses to publish all energy and transport consumption and carbon emissions information.

Who do the regulations apply to? Your business will need to comply with SECR if it has two of the following: more than 250 employees, over £36m in turnover or a balance sheet total of more than £18m.  Businesses which use 40MWh or less over the reporting period are exempt but will need to include a statement confirming your energy use. Public sector organisations are also exempt.

What needs to be reported?  SECR requires businesses to provide their energy use (including electricity, gas and transport) emissions and an intensity metric in their annual Directors’ report. The relevant report must include a narrative description of measures taken to improve the businesses’ energy efficiency in that year. Where possible, resulting energy saving from the actions reported should also be stated. If no measures have been taken this should also be included in the report.  The methodology used must be disclosed and although no methodology is prescribed, it must be robust, transparent and widely accepted.

Where, when and how will companies need to report?  Qualifying companies will need to include the required information in line with the SECR framework in their Directors’ Report, or an equivalent Energy and Carbon Report for LLPs, for financial years beginning on or after 1 April 2019.  Where energy use and carbon emissions are considered to be of strategic importance to the organisation, the disclosure may be made in the Strategic Report instead, with a statement in the director’s report to indicate and explain this decision.

Compliance with the reporting requirements can be complex and confusing, especially for companies reporting for the first time. To find out more about SECR, its impact on your business and how we can help you meet your legal obligations, get in touch to see how our experts can help you by calling 01786 451030 or completing the contact form.

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