This consultation set out proposals for streamlined energy and carbon reporting. The reform package aims to reduce administrative burdens, raise awareness of energy efficiency, reduce bills and save carbon.
Objectives of the consultation
This consultation sought views on the Government’s proposals for Streamlined Energy and Carbon Reporting within the Companies Act 2006 business reporting framework. This consultation asked for views on:
- mandatory annual reporting and disclosure of energy and carbon information through Company Accounts,
- who these requirements should apply to,
- reporting of cost-effective energy efficiency opportunities, such as those identified through ESOS audits, and action taken on these,
- complementary disclosures,
- electronic reporting.
The Government was aslo keen to receive additional evidence on costs and benefits of its proposals to businesses and to gather evidence on additional reporting policy features that could be added in the future.
This consultation closed on 4 January 2018.
To download documents which supported this consultation, please follow the links below.
The Institution was pleased to respond to the consultation paper on streamlined energy and carbon reporting, having contributed to the 2015 consultation on business energy taxation. CIBSE is supportive of the remarks made in the Ministerial Foreword, particularly the statement about saving energy as a cost effective way to reduce costs, save carbon and help meet our emissions targets. It is particularly welcome to see this being explicitly stated by the Minister.
CIBSE also welcomes the emphasis on the economic benefits of public disclosure. Efficient markets require openness and transparency to function effectively, and open and transparent reporting of energy use and carbon emissions is needed to provide the impetus for senior management to focus on reducing energy consumption in businesses.
This opportunity to streamline the mechanisms for measuring, managing and reporting energy efficiency is important. However, for any new reporting mechanism to successfully and effectively drive action beyond short term investment in energy efficiency measures requires a stable policy environment, with a sense that the new arrangements have the potential to last longer than the current parliament. Cross-party support for the new reporting framework is likely to increase its effectiveness.
To read the full CIBSE response, please follow the link below.
Results of the consultation and next steps
The Government published its response to the consultation on 18 July. The response provides a summary of the responses and views from the consultation and the related workshops held throughout the UK during the consultation period. The consultation outcome confirmed:
- that mandatory reporting is important,
- that it should align with best practice in the UK and internationally,
- that it should build on the existing mandatory reporting of greenhouse gas emissions by UK quoted companies and the Energy Savings Opportunity Scheme (ESOS),
- that the Government should ensure it is not imposing unnecessary administrative burdens on UK business.
To read the Government response and the final impact assessment, please follow the links below.