If you’re not familiar with the SECR framework, it’s important to familiarise yourself with it so you know what to report. Streamlined Energy and Carbon Reporting was introduced in 2019 by the UK government in 2019. It is a mandatory scheme that exists to make reporting carbon emissions easier for businesses.
In this short guide, we’ll cover SECR eligibility criteria and what you’ll need to report if your business qualifies.
What will my business need to report?
You’ll need to calculate your company’s carbon emissions by looking at the previous 12- months’ financial data. In addition to this, a written outline must be provided that shows what steps have been taken to make your premises more energy efficient.
When detailing emissions, your SECR report should include at least one intensity ratio. To do this, divide your emissions by an industry-specific metric - so you end up with tonnes of CO2e per square foot, per transport mile, or something similar.
For consistency - and to make comparing simple - the same ratio must be used each year.
How do I ensure my business complies?
If your company qualifies, SECR must be included in your annual Directors’ Report. This is a time-consuming process, which is why businesses often hire an energy consultancy to do the work for them.
Why not make things easier by asking Elmhurst Energy Consultancy to collate your data to add to your SECR report instead.
Does my company qualify for SECR?
Not all businesses meet the qualification criteria. It’s highly likely your company will qualify if it had to report under terms of previous schemes like the Energy Savings Opportunity (ESOS) or Savings Opportunity Scheme (SOS).
What’s the SECR framework criteria?
Your business will qualify if:
It’s a quoted company (of any size) and is required to compile a Directors’ Report
Is a large unquoted company, UK-registered, and:
Turns over at least £36m; and/or
Has an annual balance sheet with a value of £18m or more
Employees are of at least 250 people
Talk to an SECR Consultant
With over 25 years of industry experience, we’re perfectly positioned to help your business navigate SECR successfully. Find out why so many household names trust us by requesting more information and a quote today.