Streamlined Energy & Carbon Reporting (SECR)
What is Streamlined Energy & Carbon Reporting (SECR)?
Streamlined Energy and Carbon Reporting (SECR) is a new government carbon reporting scheme introduced in April 2019 that aims to expand the number of British Businesses who report their carbon emissions. Depending on the type and size of your business, you may need to take action to report under SECR regulations.
What is the purpose of SECR?
Carbon and energy reporting can be complex and time-consuming, and the need for a business to undertake a report can fall under multiple legislative requirements. SECR aims to simplify carbon and energy requirements for businesses in the UK whilst also ensuring those businesses have the information they need to take action on reducing their carbon emissions.
Who needs to comply with SECR?
Quoted companies (Companies listed on the London Stock Exchange)
Quoted companies of all sizes are already required to report their carbon emissions under current greenhouse gas reporting regulations. They will now be obliged to report under SECR.
Unquoted companies (Companies not listed on the LSE)
Unquoted companies must be definable as ‘large’ under the Companies Act 2006 to qualify for SECR reporting obligations. Both registered and unregistered unquoted companies will now have reporting obligations, regardless of if they have been required to do so previously or not.
Large’ Limited Liability Partnerships (LLPs)
A company is ‘large’ if it meets at least two of the following criteria within a reporting year:
250 or more employees
A balance sheet of, or greater than, £18million
An annual turnover of, or greater than, £36million
Do you need to comply?
Use our flow diagram below to work out if your business needs to comply with SECR.
Failing to comply can lead to fines or, in really exceptional cases, prison sentences for company directors.
Speak to one of our Energy Experts today to find out how we can help you achieve full legislative compliance.
Read SECR government guidance for more information. Contact Us: info@advantageutilities.com | 0207 371 5360