New Greenhouse gas reporting regulations provide opportunity for all businesses to focus on efficiency, drive down costs and reduce their environmental impact.

Today Government laid regulations on greenhouse gas reporting before Parliament as part of reforms to company reporting. From this year the reports will need to include disclosures on companies’ greenhouse gas emissions. This was announced earlier today by Business Minister Jo Swinson.

IEMA is one of the leading organisations that contributed to the Government’s consultation on the proposed regulations. IEMA provided evidence that demonstrated the business benefits and support for mandatory GHG emissions reporting.

As the UK’s business voice for the environment, representing over 15,000 environmental professionals working in business, IEMA can provide unique and practical insights into how businesses can prepare for these forthcoming regulations. The proposed regulations provide a clear framework for UK listed companies (around 1,100) to take responsibility for reporting on their GHG emissions.

“The publication of regulations on greenhouse gas reporting is an opportunity for all businesses to focus on efficiency, drive down costs and reduce their environmental impact. GHG reporting can deliver significant benefits with around 70% of companies that IEMA surveyed saying that GHG reporting will deliver cost savings, and 77% saying it will lead to environmental benefits. 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 Martin Baxter, Executive Director, Policy, IEMA.

“This is also an opportunity for a range of companies to also benefit from the efficiency and cost savings that GHG reporting can deliver. Although non-listed large companies and SMEs will all 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,” said Martin Baxter, Executive Director, Policy, IEMA.

Read the IEMA Mandatory GHG Reporting Briefing to find out the scope of the regulations, the GHGs that will be covered, and information on organisations that will be required to report.