Climate & Energy Reporting
Guiding you through regulations and voluntary schemes
A growing number of companies are reporting on their environmental impact. Whether that’s through regulatory reporting requirements or voluntary schemes, we can help guide you through the process no matter what stage your organisation is at along its sustainability journey.
Voluntary climate impact disclosures
Mandatory energy reporting
As the regulatory landscape for sustainability continues to evolve, we see the number of regulations and the complexity of reporting requirements increase. When it comes to climate and energy reporting, the two main regulations are ESOS and SECR. Although both are government schemes that require large companies to submit details on their energy consumptions, the schemes are separate and differ in a number of ways:
What is ESOS?
An energy assessment and energy saving scheme designed to highlight areas where energy efficiency improvements can be made, ESOS (Energy Savings and Opportunity Scheme) is mandatory for “large undertakings” in the UK and runs in four-year cycles.
What is SECR?
Making it mandatory for large UK businesses to report on their energy usage and greenhouse gas emissions, SECR (Streamlined Energy and Carbon Reporting) is an annual report and is required for the following organisations:
- Businesses publicly listed on the stock exchange
- Companies meeting the criteria for being classified as “large” as per the Companies Act
- Limited liability partnerships (LLPs)
What is UK SDS?
Set to be endorsed by July 2024, the UK Sustainability Disclosure Standards (SDS) is a set of standards specific to the UK for companies to report on sustainability-related risks and opportunities, with a focus on climate change implications. UK SDS will be based on ISSB’s IFRS Sustainability Disclosure Standards.
How can we help?
One of our experienced consultants would love to discuss how we can help with your energy and climate reporting.
Voluntary climate impact disclosures
In addition to regulatory reporting, a growing number of companies are choosing to voluntarily report on their environmental data, demonstrating a proactive commitment to sustainability. As well as aligning with global sustainability goals, voluntary reporting brings numerous benefits to a business:
Benefits of voluntary environmental reporting
- Positions your business as a responsible leader – By taking responsibility for their environmental impact, and doing so with transparency, businesses enhance their credibility and build trust with stakeholders.
- Identify risks and opportunities – By providing information on current practices and future plans, organisations can demonstrate their proactive approach to managing environmental risks and identifying opportunities.
- Gain a competitive advantage – Meet the increasing demand from consumers and investors for sustainable practices and stand out in the industry.
- Track progress – Following a clear reporting framework allows companies to track progress against peers in the industry and adjust efforts accordingly.
- Stay ahead of the regulatory curve – With regulations on the rise, it’s worth being one step ahead and aligning with best practices now so your organisation is prepared.
What is the CDP?
Formerly the Carbon Disclosure Project, the CDP is a reporting framework for companies looking to voluntarily disclose their environmental impacts.
How we can help with your voluntary reporting
We guide companies who have chosen to disclose with CDP through the climate change questionnaire. We can deliver a CDP pre and post draft gap analysis. And our experienced consultants know the intricacies of CDP’s scoring system, so can provide comprehensive guidance on questions and answers to ensure you’re not missing out on marks.
This has resulted in a more efficient submission process- reducing both time and effort for our clients due to high-quality submissions first time around, as well as increasing CDP scores.
Need a hand?
Find out how we can support your voluntary reporting initiatives.
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