SECR is a recently introduced legislation which is about to affect thousands of companies – what could this mean for you?
You may have heard about the Streamlined Energy & Carbon Reporting (SECR) legislation that was introduced in April 2019, replacing the Carbon Reduction Commitment (CRC) scheme. Under SECR, it is mandatory for qualifying companies to report their UK energy use and correlated greenhouse gas emissions, relating to gas, electricity and transport within their annual report.
SECR has been devised to make carbon and energy reporting easier for companies, by aligning it with existing mandatory reporting procedures. SECR has been introduced to help encourage businesses to increase the energy efficiency of their properties, and at the same time, reduce their carbon emissions.
Dependent on what business group your business falls into, businesses may be required to report on their Greenhouse Gas emissions, the business energy use and their emissions intensity ratio.
Who will SECR Affect?
Companies will qualify for SECR if they meet two or more of the following conditions:
- They employ 250 or more employees
- They turnover more than £36 million annually
- They have an annual balance sheet total of £18 million or more
Are there any exemptions?
Companies can be exempt from complying with SECR if they are:
- Not registered within the UK
- Companies that use less than 40,000 kWh of energy in the reporting year
- You are a public sector organisation, charity or private sector organisation that does not file reports to companies’ house
- You’re a UK subsidiary, but are already covered by the Parent’s Group Report (Parent Group must be registered within the UK)
How can we help?
Although SECR legislation is new, when it comes to carbon and energy reporting, the team here at Compliance365 are extremely knowledgeable. We’d be happy to talk to you about SECR and what it means for your business.
Compliance365 can help your business to collect your Greenhouse Gas data, business energy use from electricity gas and transport and any other emissions annually, ready to be included in your annual report. We can also advise on how your carbon emissions can be reduced year on year.
You can speak to a member of our team today by emailing sales@compliance365.co.uk or calling us on 01924 669940.