Synertree says: At Rio+20 it was announced that the UK Government will introduce a regulation requiring reporting of greenhouse gas (GHG) emissions by UK quoted companies. This follows a public consultation last year where the majority supported making GHG emissions reporting mandatory. Defra ran a consultation in summer 2012 on the draft greenhouse gas regulations, as to the format and detail of the GHG reporting legislation. Synertree responded to the consultation based on our experience of GHG and energy reporting in both the UK and Australia. The main points of our response were as follows:
The consultation closed on 17 October, subsequently we were invited to a Defra Greenhouse Gas Reporting Regulation Guidance Workshop in London. Here the detail of the legislation and draft regulations were discussed in detail. Revised and updated the regulations will go before Parliament after the Easter recess (26 March to 15 April 2013).
However, the regulations are still expected to come into force for reporting years ending on or after 1 October 2013, which means that for many companies they will already be in their first data collection period. For this reason, it’s important that all affected companies start collecting their data and planning for mandatory carbon reporting now, rather than leaving all the hard work until the last minute.
Official info: Defra hosted a workshop to present the UK's first GHG reporting regulations guidance for listed companies. Following analysis of the consultation responses and engagement with respondents, the draft regulation is being amended and is currently being finalised.
Location: Defra Offices, Nobel House, 17 Smith Square, London
Official website: Click here
- Synertree welcome the fact the consultation has been published, and congratulate Defra releasing these draft mandatory greenhouse gas reporting regulations.
- Synertree thinks the regulations need further guidance on the level of detail required of the methodology used to calculate emissions. The draft regulations leave this to the discretion of the company.
- Giving Director's a choice of methodologies means that comparison of different companies will be difficult. This goes against two of the main principles of GHG accounting, i.e. 'transparency' and 'comparability'.
- The regulations should make clear that reported emissions should be based on Gross CO2-e, otherwise there is scope for companies which offset emissions to report on their net CO2-e, which has less meaning.
- It would make more sense to have carbon intensity ratio which is comparable within industries/sectors. Allowing companies to choose this means it will be very difficult to make any sort of comparisons.
- The regulations should be based on operational control and Defra should clear define this for reporters.
- It would have much more value and meaning if their was an audit aspect to GHG reporting, otherwise there is a risk of mis-reporting of GHG emissions, either intentionally or unintentionally.
The consultation closed on 17 October, subsequently we were invited to a Defra Greenhouse Gas Reporting Regulation Guidance Workshop in London. Here the detail of the legislation and draft regulations were discussed in detail. Revised and updated the regulations will go before Parliament after the Easter recess (26 March to 15 April 2013).
However, the regulations are still expected to come into force for reporting years ending on or after 1 October 2013, which means that for many companies they will already be in their first data collection period. For this reason, it’s important that all affected companies start collecting their data and planning for mandatory carbon reporting now, rather than leaving all the hard work until the last minute.
Official info: Defra hosted a workshop to present the UK's first GHG reporting regulations guidance for listed companies. Following analysis of the consultation responses and engagement with respondents, the draft regulation is being amended and is currently being finalised.
Location: Defra Offices, Nobel House, 17 Smith Square, London
Official website: Click here
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