Sustainability accounting experts at Ecometrica are warning that more than 9,000 businesses could be caught out by new carbon reporting regulations.
Under the latest environmental reporting guidance from the UK government, thousands of companies will need to record carbon emissions for the first time at the end of this financial year.
Gary Davis, chief executive of Edinburgh-based satellite mapping firm Ecometrica, said: “All large unquoted, large LLPs, and quoted companies, as defined by the Companies Act 2006, will have to comply with the new energy and carbon reporting framework.
“The new regulations will present a challenge to many businesses and an opportunity for some larger global corporates, not currently reporting, to consider applying best practice.”
Requirements include reporting global greenhouse emissions, as well as total global energy use and energy efficiency actions, for financial years starting on or after 1 April 2019.
Davis added: “It’s likely that most organisations who have had to submit a return for the Energy Saving Opportunities Scheme will be required to report to the new scheme.
“This will introduce annual public disclosure of UK energy use and carbon emissions to around 11,000 organisations, up from approximately 1,600 required to report for the outgoing regulations.”