The UK government has announced that from October 2013 listed companies are required to measure and report on their annual greenhouse gas (GHG) emissions.
At present, this new legislation only affects UK incorporated companies whose equity share capital is officially listed on the main market of the London Stock Exchange; or is officially listed in a European Economic Area; or is admitted to dealing on either the New York Stock Exchange or NASDAQ.
This legislation has been introduced with the idea that the increased transparency will encourage organisations to address their environmental impacts and take quicker action to reduce their carbon emissions.
The carbon reports should:
- Be included in the Director’s Report section of the company’s annual report
- Use widely recognised independent standard
- Cover all relevant greenhouse gases
- Include carbon emissions data from the previous years, alongside the present year’s data (with the exception to the first mandatory reporting year).
- Express emissions per unit of sales revenue or floor space
