Large companies are now required to comply with the new Streamlined Energy and Carbon Reporting (SECR) scheme, which came into effect on 01 April 2019. SECR replaced the Carbon Reduction Commitment (CRC), and although designed to simplify energy and carbon reporting for large organisations, SECR does, however, draw more businesses into its net. Whereas the CRC applied to around 4,000 businesses, it is estimated that around 12,000 companies across the UK will need to comply with SECR.
If your company meets any two of the following three criteria, whether it is listed, unlisted or a limited liability partnership, you will need to comply with SECR:
- More than 250 employees
- Turnover greater than £36 million
- Balance sheet value greater than £18 million
Your first report will relate to your first full financial year starting on or after 01 April 2019 and will form part of your annual Company Report. Although that means this first report will not fall due until December 2020, it is important to make sure that your ongoing record-keeping is fit for this purpose. This must include details of energy usage relating to gas and electricity drawn from the grid, and also bulk fuels such as diesel, oil, or LPG. The report will also show the associated greenhouse gas (GHG) emissions. Crucially, over time these annual reports will show how you have reduced energy and carbon emissions.
Our team of energy experts can help you define, implement and refine your energy management strategy, ensuring you comply with SECR.