The Streamlined Energy and Carbon Reporting (SECR) affects all large UK undertakings. Introduced in April 2019, it replaces several programmes that covered energy and carbon and taxation and builds on existing requirements to raise awareness of energy efficiency, reduce bills and save carbon.
In this blog we’re highlighting the requirements and that Hallidays can signpost you to expert support to help you and your business.
Who does SECR affect?
SECR affects three groups of businesses; Quoted, Unquoted and Large ‘Limited Liability Partnerships’ (LLP) who meet at least two of the following criteria*;
- More than 250 employees
- Annual turnover greater than £36m
- Annual balance sheet total greater than £18m
*There are some exclusions for organisations within these and other energy-based criteria.
How does SECR work?
From April 2019, all qualifying companies must disclose their energy and carbon emissions in their annual financial reports, along with efficiency measures taken over the previous year. This involves the collection and reporting of data regarding energy use, emissions and the production of an energy efficiency action plan.
Qualifying businesses will now be at 1 of 3 stages with their submission, depending on their year-end:
- Some have submitted
- Some are in the process of compiling annual accounts (e.g. if financial year ran Jan 2020 to Dec 2021 and then they have 9 months after to submit, they are still compiling their first SECR report)
- Some have not complied and need to make their submission
What must be reported?
- UK energy use for electricity, gas & transport
- Associated greenhouse gas (GHG) emissions
- Energy use and GHG emissions from previous year
- At least one emissions intensity (carbon intensity) ratio*
- Narrative on energy efficiency measures and methodology
*the emission rate of a given pollutant relative to the intensity of a specific activity/industrial process.
The reports should be completed annually, the same as the company’s financial year and be included in your company’s Directors Report.
How Hallidays can help
If you’d like expert support with SECR, we can signpost you to Brownlow Utilities, who advise Hallidays. As business energy specialists they can support your operational and financial team with a 3-step process:
- Strategy formulation and data collation
- Auditable performance reports
- Financial reporting and sign off, including identifying efficiency saving projects and planning reductions for a greener future.
Please contact your usual Halliday advisor directly or call us on 0161 476 8276 or email firstname.lastname@example.org for further details.