BEIS consults on streamlined energy and carbon reporting framework
The Department for Business, Energy and Industrial Strategy is consulting on proposals for a simplified UK-wide energy and carbon reporting framework within the Companies Act 2006 business reporting regime. The new framework is to replace the CRC Energy Efficiency Scheme which is being abolished in 2019.
This consultation seeks views on:
- mandatory annual reporting and disclosure of energy and carbon information through company accounts;
- the scope of the requirements (see below);
- reporting of cost-effective energy efficiency opportunities, such as those identified through Energy Savings Opportunity Scheme (ESOS) audits, and action taken on these;
- complementary disclosures; and
- electronic reporting.
It is proposed the framework would apply to certain UK companies formed and registered under the Companies Act 2006, and potentially LLPs. When determining to whom the framework will apply, it is proposed to apply either energy use or company size thresholds. It is also proposed that UK quoted companies, regardless of size, would continue to be required to report.
The consultation also seeks views on other policy mechanisms, such as regulation and incentives, that can work with reporting to drive energy efficiency. BEIS also requests evidence on a possible central reporting portal managed by an administrator further in the future.
The consultation closes on 4 January 2018. The consultation can be found here.