IEMA has welcomed the Government's decision to introduce mandatory greenhouse gas reporting for listed companies (around 1,800) and then broadened out for all large companies by 2015.
Responding to Deputy Prime Minister Nick Clegg's revelation in the Guardian that all 1,800 FTSE-100 companies will be required to publish their GHG emissions from April 2013, IEMA's Executive Director - Policy Martin Baxter said:
"This is a welcome decision for UK plc and demonstrates international leadership as part of the Rio discussions. Mandatory greenhouse gas reporting will deliver benefits for both the UK economy and the environment, and turn the environment into a mainstream business opportunity. However, we will not see the full benefits of mandatory reporting until it is introduced for all large businesses (around 24,000). Currently the majority of listed businesses already report on their GHG emissions, so until this legislation is broadened out it will not achieve its full potential for environment and business".
"We strongly urge Government to speed up the process of introducing mandatory reporting on GHG emissions to all large companies as soon as possible. Over 90% of IEMA members we surveyed supported the introduction of GHG reporting for all large companies (option 3 in Defra's consultation document). A requirement to report is seen as the prime motivator for ensuring further growth in GHG management and encouraging companies to cut their emissions, as it creates a more consistent landscape for business. By creating a transparent framework, mandatory reporting will make companies accountable for reporting and delivering cuts in their GHG emissions" he continued.
GHG reporting can deliver significant benefits with around 70% of companies surveyed saying that GHG reporting will deliver cost savings, and 77% saying it will lead to environmental benefits.
Posted on 20th June 2012
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