Carbon reporting consultation is launched - hurray
Posted by Anthony Field on 12/05/11 16:30 PM
We, at Panda House, welcome this consultation and are pleased to see specific mandatory carbon reporting options within it as we have been campaigning for years, along with The Co-operative , to make mandatory carbon reporting a requirement.
A Deloitte report in November 2010 revealed that only 9% of companies surveyed reported their carbon emissions in line with Defra guidance.
We want to see the introduction of mandatory reporting of corporate greenhouse gas emissions as soon as possible, and before the 2012 deadline set in the Climate Change Act 2008 as we believe mandatory carbon reporting is a vital step to enable the UK to decarbonise its economy and meet its targets under the Act.
There is wide support for mandatory carbon reporting with many businesses and financial institutions publically calling for it, including an open letter to Ministers. Mandatory carbon reporting of greenhouse gasses is a key step for safer investments, in developing a green economy and tackling climate change.
The long-term benefit to companies of carbon reporting outweighs the cost and is a benefit to investors. In our discussions with investors it has become apparent that mandatory carbon reporting would provide increased certainty for investors as it would help them analyse the true risks to their investments.
The consultation runs until 5 July and a decision will be made in the autumn.