SECR: Are you ready for the new energy reports?
The first reports are now imminently due under the new Streamlined Energy Carbon Reporting (SECR) scheme. SECR came into force in April 2019, replacing the Carbon Reduction Commitment (CRC) energy efficiency scheme and significantly tightening the scrutiny of energy-efficient building practices.
SECR will require an estimated 11,900 companies to disclose their energy usage and carbon emissions, a far greater number than required by the CRC. It applies to all businesses with more than 250 employees, an annual turnover higher than £36m and a balance sheet of £18m or more. Any company meeting two out of three of these criteria, including LLPs and unregistered businesses, will be obliged to comply.
The scheme forms part of the UK Government’s Clean Growth Strategy, which calls on businesses to improve energy productivity by at least 20% by 2030. Companies covered by the scheme must report their annual energy usage and carbon emissions in the same way that they file their annual financial reports – with the same penalties for failing to comply. They must also provide a narrative, detailing the measures they have taken to reduce emissions and become more energy efficient.
We can help you plan and create this narrative, as well compiling the data for your SECR report. We will advise you on exactly what you are required to report (different types of business have different requirements) and take the necessary measurements.
But we can go further. The SECR should not be seen as just a regulatory exercise. With expert advice, it is an opportunity to make a significant difference to the energy efficiency of your business, which will have a positive impact on overheads and reputation.