Check now to ensure you don’t get caught out by SECR, a new mandatory compliance scheme for large companies.
The new Streamlined Energy and Carbon Reporting (SECR) scheme came into effect on the 01 April 2019, replacing the Carbon Reduction Commitment (CRC). Although designed to simplify energy and carbon reporting for large organisations, the SECR does, however, draw more businesses into its net.
While the CRC was just for companies listed on the stock exchange, with SECR you must now report if you meet any two of the following three criteria - whether you are listed, unlisted or a limited liability partnership:
- More than 250 employees
- Turnover greater than £36 million
- Balance sheet value greater than £18 million
If you do have to comply, your first report will relate to your next full financial year starting on or after the 01 April 2019 and form part of your company’s annual report. Although that means this first report will not be due until April 2020 at the earliest, you must make sure your record keeping is fit for purpose from this year, 01 April 2019 onwards. This includes details of energy use relating to electricity, gas and transport as well as the associated greenhouse gas (GHG) emissions.
If you have been or are reporting under CRC or ESOS you are likely to be collecting most of the information needed for SECR already, but you may need to prepare additional disclosures and commentary and it is your responsibility to check specific reporting requirements. In addition, SECR is an annual obligation which is different to the four-yearly cycle of ESOS.
To check your SECR obligations and find out how we can help with this and other compliance schemes call the NFU Energy team on 024 7669 6512.