Firms need to get ready for reporting

9th November 2012

Related Topics

Related tags

  • Reporting



One-third of the UK's top 350 firms still need to put in place systems to capture and report their emissions data ahead of the introduction of mandatory greenhouse-gas (GHG) emissions reporting next year

The latest findings from the Carbon Disclosure Project (CDP) on reporting by companies in the FTSE350 index reveals that currently 64% include GHG emissions data in their financial reports, leaving 36% still to act.

The CDP’s results come as IEMA responded to the government’s consultation on proposed regulations requiring the disclosure of GHG emissions in companies’ annual reports.

It warns that a lack of clarity over green-tariff electricity in the draft legislation means it is unclear which firms can ultimately claim the “carbon benefit”.

It wants the final regulations to include a requirement that emissions from electricity consumption should be reported using a grid average. Firms buying electricity on green tariffs would be able also to report their lower emission calculations, but requiring all firms to report grid-average emissions will ensure consistency in reporting and minimise confusion, according to IEMA.

The Institute also highlights potential gaps in accounting for emissions from stored sources and from land owned by the reporting company. And, although scope three emissions are currently outside the reporting framework, IEMA recommends that the final text should include a statement encouraging firms to report such emissions.

“The regulations do not mention scope three emissions (understandably), but concerns exist that some companies may deliberately exclude such emissions if they are not referenced at all,” states the response. “For clarity it would be helpful to state that scope three emissions are not covered by regulations but that these can be material issues for some companies and therefore reporting is encouraged.”

IEMA also notes that the existing Defra guidance on measuring and reporting GHG emissions will not by itself address all issues that companies will need help with in meeting their obligations, and advises the government to provide more support ahead of the regulations coming into force.

Under the government’s plans, more than 1,000 FTSE listed companies will have to report their GHG emissions from 2013.


Subscribe to IEMA's newsletters to receive timely articles, expert opinions, event announcements, and much more, directly in your inbox.

Transform articles

EU and UK citizens fear net-zero delivery deficit

Support for net zero remains high across the UK and the EU, but the majority of citizens don't believe that major emitters and governments will reach their climate targets in time.

16th May 2024

Read more

There is strong support for renewable energy as a source of economic growth among UK voters, particularly among those intending to switch their support for a political party.

16th May 2024

Read more

Taxing the extraction of fossil fuels in the world’s most advanced economies could raise $720bn (£575bn) by 2030 to support vulnerable countries facing climate damages, analysis has found.

2nd May 2024

Read more

The largest-ever research initiative of its kind has been launched this week to establish a benchmark for the private sector’s contribution to the UK’s 2050 net-zero target.

2nd May 2024

Read more

Weather-related damage to homes and businesses saw insurance claims hit a record high in the UK last year following a succession of storms.

18th April 2024

Read more

The Scottish government has today conceded that its goal to reduce carbon emissions by 75% by 2030 is now “out of reach” following analysis by the Climate Change Committee (CCC).

18th April 2024

Read more

The Science Based Targets initiative (SBTi) has issued a statement clarifying that no changes have been made to its stance on offsetting scope 3 emissions following a backlash.

16th April 2024

Read more

While there is no silver bullet for tackling climate change and social injustice, there is one controversial solution: the abolition of the super-rich. Chris Seekings explains more

4th April 2024

Read more

Media enquires

Looking for an expert to speak at an event or comment on an item in the news?

Find an expert

IEMA Cookie Notice

Clicking the ‘Accept all’ button means you are accepting analytics and third-party cookies. Our website uses necessary cookies which are required in order to make our website work. In addition to these, we use analytics and third-party cookies to optimise site functionality and give you the best possible experience. To control which cookies are set, click ‘Settings’. To learn more about cookies, how we use them on our website and how to change your cookie settings please view our cookie policy.

Manage cookie settings

Our use of cookies

You can learn more detailed information in our cookie policy.

Some cookies are essential, but non-essential cookies help us to improve the experience on our site by providing insights into how the site is being used. To maintain privacy management, this relies on cookie identifiers. Resetting or deleting your browser cookies will reset these preferences.

Essential cookies

These are cookies that are required for the operation of our website. They include, for example, cookies that enable you to log into secure areas of our website.

Analytics cookies

These cookies allow us to recognise and count the number of visitors to our website and to see how visitors move around our website when they are using it. This helps us to improve the way our website works.

Advertising cookies

These cookies allow us to tailor advertising to you based on your interests. If you do not accept these cookies, you will still see adverts, but these will be more generic.

Save and close