Mandatory GHG reporting "opportunity" for all
- Business & Industry ,
- Reporting ,
- Corporate governance
Ahead of new legislation requiring FTSE-listed firms to report their greenhouse-gas (GHG) emissions, IEMA says all organisations can benefit from getting to grips with GHG accounting
The introduction of mandatory GHG reporting for 1,100 of the UK’s biggest companies is an opportunity for all businesses to focus on efficiency, drive down costs and reduce their environmental impact, according to IEMA.
In the run up to the publication of the new regulations, due to be laid before parliament this month, Martin Baxter, the Institute’s executive director of policy, is urging UK firms, both big and small, to prepare for the changes.
“These regulations will enable companies to manage longer-term environmental challenges, such as climate change, and ensure the drive towards a resource efficient and low-carbon economy,” said Baxter.
“Although non-listed large companies and SMEs will initially be outside the scope of the regulations, many will increasingly be asked to provide data by larger supply-chain client companies.
“Preparing for GHG accounting will enable these companies to retain clients and achieve competitive advantage,” he added.
GHG accounting can deliver tangible benefits according to research from IEMA, with around 70% of companies surveyed confirming that GHG reporting will deliver cost savings, and 77% saying it will lead to environmental benefits.
Under the new reporting regulations, all firms listed on the main market of the London Stock Exchanges, will have to report their scope 1 and 2 GHG emissions for company reporting years ending on or after 30 September 2013.
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