The Government continues with its commitment to reduce the UK’s greenhouse gas (GHG) emissions by at least 80% (from the 1990 baseline) by 2050. From 1 October 2013, the Companies Act 2006 (Strategic Report and Directors’ Report) Regulations 2013 come into force. This means that all UK quoted companies will have to report on their GHG emissions they are responsible for as part of their annual Directors’ Report.
The Government has produced a tool to help companies convert their activities into the equivalent carbon emissions. Of course, the tool is reliant on having the correct information to hand. Although companies do not have to report on the GHG emissions of its supply chain, some of the material data may be held by members of that chain. Companies, therefore, may wish to review their consultants’ appointments and ongoing maintenance contracts to make sure that its supply chain provides the correct information in time to comply with the regulations.