Reporting on Carbon Emissions – Top Tips for ComplianceSarah Whitworth
Is your business affected by mandatory carbon reporting? If you are a quoted company, then for companies with year-ends ending after late 2013 you are required to report your company’s annual greenhouse gas emissions in your directors’ report. The chief motivation for this is that it’s the first step to companies reducing their emissions and thereby decreasing their environmental impact. The UK Department for Environment, Food and Rural Affairs (DEFRA) has estimated that mandatory reporting will lead to a saving of 4 million tonnes of CO2 emissions by 2021.
There is no prescribed methodology for how companies should calculate and report their carbon footprint, but you will of course want to make your reporting as efficient, effective and transparent as possible.
Our top tips on carbon emission reporting:
Use a suitable standard
Employing a widely-recognised standard for your carbon reporting – such as the GHG Protocol Corporate Standard – ensures that your emissions report is transparent and simplifies the process for your business. The vision of the GHG Protocol is to have all relevant businesses adopt a consistent approach and to harmonise carbon reporting across the board. It is available free of charge and provides detailed guidance for the best methods, so adopting this standard is worth doing.
Cover all details
Make sure your report contains details of greenhouse gas emissions from all activities worldwide that your company is responsible for. Also ensure that emissions of all relevant greenhouse gases are included.
Use a carbon footprint calendar
Calculating your organisational carbon footprint can be a complex task, taking into account each and every activity across your company that contributes to emissions, including transport, buildings’ energy uses and industrial processes. Using a service that collates all relevant data to calculate your carbon footprint can simplify the procedure for you.
Make the disclosure process as simple as possible with IBM Cognos Disclosure Management (CDM)
CDM is an innovative disclosure process solution which fully automates and streamlines your disclosure procedure. It operates by bringing together your business data and turning it into a report of the kind that is usually produced manually. Rather than having to go through the usual disjointed processes of filing a report, CDM uses a single platform solution to produce report outputs in any of the familiar business formats like MS Word, PowerPoint or Adobe PDF. There are several benefits to using CDM for your carbon reporting. The automated process means that labour costs are reduced and time and company resources saved. The procedure is much more efficient than the usual methods, and with its unified platform, there is less of a margin for human error, leading to an increase in accuracy and a reduction in risk.
Add drill-down detail to the disclosure process with IBM Business Intelligence
Using an Active Report which provides an interactive analytics experience in a self-contained Cognos Business Intelligence application for browsing and exploring data offline. Report authors can build Carbon reports targeted to users’ needs, keeping the user experience simple but very effective. Mobile workers can take their data with them to track emissions and analyse trends regardless of their location, connectivity or consumption device. This allows the exact same reporting application to be consumed on the Apple iPad or in a standard web browser.
Following these tips will allow you to simplify the carbon reporting process for you and your company, and save unnecessary expense of time and resources. To find out more about how HAYNE can help you contact us