Mandatory carbon reporting welcome, but need for simplification of the regulatory landscape
The Government has today announced that mandatory carbon reporting will be introduced for UK companies from April 2013, with further details of the policy due to be published later today.
Doug Johnston, leader of EY’s Climate Change and Sustainability Services practice in the UK, commented:
“The introduction of mandatory carbon reporting will be broadly welcomed. A recent survey of 153 major companies by Green Mondays found that 86% were in favour of a mandatory carbon reporting regime.
"For most major companies, the introduction of mandatory reporting will not create an undue burden, as many are already voluntarily disclosing their carbon emissions. Companies recognise that what gets measured gets managed, and that there are clear opportunities to enhance value through managing and reducing emissions.
"However, there is also a clear need for simplification of the regulatory landscape for carbon reporting. UK businesses have long voiced concerns about undue burdens and overlapping objectives in the existing regulatory framework for carbon emissions. Companies will be hoping that the new requirements bring clarity to an area of business regulation that is widely recognised as playing a key role in how the UK responds to the challenge of climate change.”