Let us help prepare you for Streamlined Energy and Carbon Reporting, mandatory from April 2019 following CRC abolition, says Inspired Energy in this sponsored post.
As a result of the Government shakeup of carbon emission reporting and energy efficiency legislation, the new Streamlined Energy and Carbon Reporting (SECR) framework, which is coming into force from April 2019, will affect an estimated 11,900 organisations in the UK that will now need to comply.
Unlike ESOS, it will be an annual submission included within the director’s report and will be required to cover all consumption and resulting emissions, including those associated with transport.
SECR is set to replace the CRC Energy Efficiency Scheme that is coming to an end after the 2018/19 compliance year. It will act as the new instrument for businesses to collect, measure and report on carbon emissions and energy use.
However, approximately 4000 companies (and 1,200 other public and private sector organisations) were required to report on their carbon emissions under the CRC. Moving forward, organisations that qualified for CRC may not qualify for SECR as the qualification criteria is changing from energy consumption to size indicators – the official definition of ‘large’ organisations.
It is important to note that the criteria change will result in over 7,900 additional companies being required to report on their carbon emissions for the first time.
The detailed guidance for SECR is expected to be published by the end of November 2018. It is important to be mindful of the legislation now in place. We can assist you by:
- Identifying whether you meet the qualifying criteria for SECR
- Keeping you up-to-date with the latest SECR developments
- Providing advice and a fully managed solution on how to mitigate the impact of SECR once the reporting guidelines are published.
To find out more about SECR simply click here.
Qualifying criteria include:
- All quoted companies.
- All large UK incorporated unquoted companies and LLPs fulfilling at least two of the following conditions in the financial year:
- at least 250 employees
- an annual turnover of £36m+
- an annual balance sheet of £18m+
- Qualifying UK registered subsidiaries of parent companies not registered in the UK.
- Public bodies which include limited company or LLP elements.
- UK subsidiaries that qualify for SECR will not be required to report if they are covered by a UK parent’s group report.
- Qualifying large companies that are not registered in the UK.
- Organisations not registered as companies, for example some public sector/private/charity organisations.
- Qualifying large companies using less than 40,000kWh of energy in the reporting year.
If you would like to discuss SECR in more detail, simply email us via email@example.com or call our team on 01772 675294.