Businesses will now find it easier and more convenient to comply with energy and carbon reporting rules through a new digital tool, the government has announced.
On 13 March, it said that the Streamlined Energy and Carbon Reporting (SECR) taxonomy will allow businesses to report their energy and carbon data when they file digital accounts with Companies House. SECR legislation came into force on 1 April 2019, requiring all large UK companies and large LLPs, along with all quoted companies, to report on their annual energy use, greenhouse gas emission and what energy efficiency actions they have taken.
The SECR taxonomy was developed by the Financial Reporting Council, together with Companies House and BEIS, meaning businesses can report information in XBRL format. While many already submit accounts using XBRL, the government noted that this is the first time it has been used to capture environmental data in annual reports.
Director of Digital at Companies House, Ross Maude, said: “This is a fantastic example of cross-government working to deliver a digital service that addresses an important issue. Understanding the role businesses have in reducing energy and carbon emissions is central to delivering the UK’s ambition to reach net zero by 2050. Through effective collaboration, we can make it easier for businesses to play their part.”