The changes approved by Parliament for incorporation into UK law will require UK quoted companies to disclose their greenhouse gas emissions in the Directors’ Report section of their annual report for financial periods ending on or after 30 September 2013. To date, any such disclosures have been voluntary.
“Deloitte recently examined how UK listed companies publicly reported their greenhouse gas emissions, or ‘corporate carbon footprint’, finding barely a third made the necessary disclosures of ‘scope’ and only 8% disclosed their reporting boundary. These results suggest that many UK quoted companies have some way to go before they are ready to comply.
“Affected organisations will need to be nimble in their approach - some groups are more prepared than others to measure their global carbon footprint. Companies will need to consider quickly and carefully how this information will be disclosed, and what governance and related processes will be required