Ready for Streamlined Energy and Carbon Reporting (SECR)?
Businesses in scope for Streamlined Energy and Carbon Reporting (SECR) are giving serious consideration to how and what they are going to include in their upcoming Directors’ Report.
Who does SECR affect?
If you meet two or more of the following criteria, then you’re probably in scope:
- turnover of £36 million or more
- balance sheet total of £18 million
- 250 employees or more
Also, if your business was recently involved in ESOS, it’s likely that you’re in SECR too.
What should business be doing?
SECR requires businesses to report 12-months of energy data (for grid electricity, natural gas and transport as a minimum) and to calculate the associated greenhouse gases. It also asks businesses to define an intensity metric, to identify the calculation methodologies used, and to set out a narrative of their energy efficiency actions delivered during the reporting year. This must then be disclosed as part of the Directors’ Report alongside the usual financial information.
Do give consideration to the lead times necessary to meet these requirements. This is especially important if you don’t routinely measure your energy consumption or calculate your greenhouse gas emissions. It’s also likely that auditors and accountants will want to review the SECR details and the data behind it before it’s published. Any businesses choosing to disclose their SECR data in Annual Reports will also need to add additional pages and provide guidance to investors.
It’s time to put a plan in place to ensure these tasks are completed effectively and in good time. Carbon and energy reporting isn’t going away, so consider this an opportunity to understand and fine tune your operations.
Tricarbon brings deep multi-industry knowledge to your SECR reporting. Get in touch to discuss our straight-forward approach to compliance.
