STREAMLINE ENERGY CARBON REPORTING (SECR)

In July 2018, the UK government announced its proposed approach to simplify the energy and carbon reporting framework for business and industry.

In July 2018, the UK government announced its proposed approach to simplify the energy and carbon reporting framework for business and industry. This is being put in place to replace the CRC Energy Efficiency Scheme, which comes to an end in April 2019, with a new streamlined energy and carbon reporting (SECR) framework.

The new SECR framework’s purpose is to simplify carbon and energy reporting requirements for companies, at the same time ensuring they have the information needed to reduce emissions and ultimately, energy costs.

SECR has been designed to build on existing mandatory greenhouse gas emissions reporting that already applies to UK quoted companies, as well as the Energy Saving Opportunity Scheme (ESOS) Regulations 2014.

The regulations require large companies that consume more than 40,000kWh of energy per year that meet 2 or more of the following:

• Turnover (or gross income) of £36m or more

• Balance sheet assets of £18m or more

• 250 employees or more

If you meet 2 more then you must comply.