Nature and Biodiversity

The UK government wants large companies to report their CO2 emissions

Typhoon jets take part in a flypast over the financial district to mark the centenary of the Royal Air Force (RAF) in London, Britain, July 10, 2018. REUTERS/Kevin Coombs

The government wants all business to improve energy efficiency by 2030. Image: REUTERS/Kevin Coombs

Reuters Staff
Share:
Our Impact
What's the World Economic Forum doing to accelerate action on Nature and Biodiversity?
The Big Picture
Explore and monitor how Future of the Environment is affecting economies, industries and global issues
A hand holding a looking glass by a lake
Crowdsource Innovation
Get involved with our crowdsourced digital platform to deliver impact at scale
Stay up to date:

Future of the Environment

Big companies will have to report their energy use, carbon dioxide emissions and energy efficiency measures in their annual reports from next April under a new framework set out by the British government on Wednesday.

The government said it wants businesses and industry to improve energy efficiency by at least 20 percent by 2030.

A previous company reporting scheme, called the CRC Energy Efficiency Scheme, was too complex for businesses and will be closed. The new framework will simplify and streamline reporting requirements.

The new framework will apply to all quoted companies.

It will also apply to big UK-incorporated unquoted companies and limited liability partnerships with at least 250 employees or an annual turnover greater than 36 million pounds ($47 million) and annual balance sheet total greater than 18 million pounds, the department for Business, Energy and Industrial Strategy said in a statement.

Companies will not be obliged to disclose information that their directors believe would seriously harm the company's interests, the government said.

Concerns in the investment community that assets are being mispriced because climate risk is not being factored into financial reporting have prompted demands for more transparent climate-related financial information.

Have you read?
Don't miss any update on this topic

Create a free account and access your personalized content collection with our latest publications and analyses.

Sign up for free

License and Republishing

World Economic Forum articles may be republished in accordance with the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International Public License, and in accordance with our Terms of Use.

The views expressed in this article are those of the author alone and not the World Economic Forum.

Share:
World Economic Forum logo
Global Agenda

The Agenda Weekly

A weekly update of the most important issues driving the global agenda

Subscribe today

You can unsubscribe at any time using the link in our emails. For more details, review our privacy policy.

Ban these companies from advertising, says UN chief, and other nature and climate stories you need to read this week

Michael Purton

June 13, 2024

About Us

Events

Media

Partners & Members

  • Join Us

Language Editions

Privacy Policy & Terms of Service

© 2024 World Economic Forum