When did it come in?
From financial years beginning on or after 1 April 2019, large UK companies will be required to report publicly on their UK energy use and carbon emissions within their Directors’ Report. This new requirement has been implemented by the Department for Business, Energy and Industrial Strategy (BEIS).
Who is it aimed at?
SECR will impact any companies, LLPs and groups that exceed at least two of the following three thresholds in the financial year:
- £36m annual turnover
- £18m balance sheet total
- 250 employees
What does it mean?
For businesses meeting the above criteria, company or group reporting is required regardless of whether an overseas parent company or group has published a similar report. A group may however exclude any energy and carbon information relating to any subsidiaries which would not be obliged to report individually according to the thresholds. Also, after undertaking a calculation, where a company has consumed less than 40MWh, a disclosure is not required but can still be done voluntarily.
Why are companies being asked to do this?
The 2018 Regulations are designed to increase awareness of energy costs within organisations, to provide them with data to inform adoption of energy efficiency measures and to help them to reduce their energy use and impact on climate change. They are also designed to provide greater transparency for stakeholders.
More information can be found at the gov.uk website. Assetbook IoT is a software and hardware tool for reporting energy in use at ANY point in an organisation, estate or building and is a simple way to get real energy in use data.
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Smart Energy and Demand Side Response Explained
Meeting SECR for energy use made easier