BEIS have launched a consultation to develop new framework for Streamlined Energy & Carbon Reporting.
The Department for Business, Energy & Industrial Strategy (BEIS) has opened a consultation on Streamlined Energy & Carbon Reporting. The government announced its intention to consult on new reporting framework back in March 2016, with the hope of implementing the changes in 2019.
The new framework will coincide with the abolishment of the Carbon Reduction Commitment (CRC) scheme, following the 2018-19 compliance year; to compensate for this, the Climate Change Levy (CCL) will rise in 2019.
The new proposals will run alongside other policies such as ESOS and any current mandatory reporting requirements of greenhouse gas emissions which UK quoted companies must adhere to. As part of the changes, eligible businesses must include discrete reports on energy usage and carbon emissions, included with their annual reports to Companies House.
BEIS proposes that the qualifying threshold for businesses will depend on company size or energy usage.
As part of the consultation, BEIS are requesting feedback on the following:
- Mandatory annual reporting.
- Full disclosure of energy and carbon data via company accounts.
- Who the new requirements apply to.
- Reporting of energy efficiency opportunities which reduce costs and actions that have been taken.
- Complementary disclosures.
- Electronic reporting and guidance.
The consultation will last for 12 weeks and will close on the 4th of January 2018.