What is Streamlined Energy and Carbon Reporting (SECR)?
Streamlined Energy and Carbon Reporting (SECR) was introduced in 2019, as legislation to replace the Carbon Reduction Commitment (CRC) Scheme. SECR requires obligated companies to report on their energy consumption and associated greenhouse gas emissions within their financial reporting for Companies House. Organisations will also need to report on any energy efficiency measures and state emissions with reference to an intensity metric. The requirements are similar to the requirements of Mandatory Greenhouse Gas (GHG) Reporting previously in place for quoted companies. However, there are changes to the reported information for quoted companies too.
Contact us to determine if you are a ‘quoted’ or ‘unquoted company’.
Who is obligated under SECR?
SECR applies to all quoted companies, large limited liability partnerships and large UK incorporated unquoted companies*. Limited liability partnerships and UK incorporated quoted companies are considered to be large and must comply with the legislation if they meet two or more of the qualification criteria below:
- 250 or more employees
- Turnover in excess of £36 million
- Balance sheet in excess of £18 million
* Organisations using less than 40,000 kWh per annum will not be required to report
Your complete guide to SECR
Our guide to SECR provides all the key information you need to know in one place, and defines the steps obligated companies need to take to become compliant.
Click below to request your copy.
PODCAST: Streamlined Energy & Carbon Reporting (SECR)
Get the lowdown on new legislation Streamlined Energy and Carbon Reporting (SECR) which came into force on 1 April 2019, including who is obligated, reporting requirements and how Comply Direct can help obligated companies ensure compliance.
Streamlined Energy and Carbon Reporting (SECR) came into place on 1 April 2019 and affects an undertaking’s financial accounting period commencing on or after this date. Obligated companies have an annual obligation to report on SECR in line with their financial accounts.
How to achieve SECR compliance
Large Unquoted Companies and LLPs
To comply with SECR, the following information must be disclosed in the Director’s Report within Company Accounts for unquoted companies, or in an Energy and Carbon Report for LLPs:
- UK energy use: electricity, gas and transport (as a minimum)
- Associated GHG emissions
- At least one emissions intensity metric (e.g. tCO2e / £ turnover)
- Emissions over time; with the exception of the first mandatory reporting year, emissions data must be shown from the previous year
- A narrative on energy efficiency actions undertaken
- Information on the methodology used to calculate the above
Quoted companies have been reporting global emissions and an intensity metric since 2013 under Mandatory GHG Reporting. Quoted companies continue to be required to report their global GHG emissions. However, in line with large unquoted companies there is now an additional requirement to report on total global energy use, energy efficiency actions and the methodology used to calculate the data.
Our project manager explained the SECR process thoroughly and provided strong support for the duration of the project. Comply Direct charge a very competitive market rate for the work undertaken.
Epwin Group PLC
How Comply Direct can help
- Full compliance management
- Determine which entities require reporting
- Assist in gathering data, calculate your energy use and quantify emissions in line with the Greenhouse Gas Protocol standard
- Summary report to for insertion into financial accounts
- Additional analysis as standard on energy and carbon emissions including high level year on year comparisons.
- Support with additional voluntary disclosures
- Training on carbon reporting, including the requirements and process
- Verify your report, calculations, and evidence pack for you to ensure all elements are correct, making suggestions for improvements where required
Why Comply Direct?
- Flexible and bespoke – take time to understand your business
- Confidence that your reporting is accurate and compliant
- Support and guidance
- Team of experts with experience in producing carbon footprints and SECR submissions for organisations in a range of sectors.
- Efficient reporting, support throughout the reporting period, not just at the end of the year
- In addition to providing the mandatory documentation we produce a bespoke report for internal use which analyses your energy use and emissions in detail and contains information on how to minimise your emissions
- Option for further help with reducing your emissions and continued reporting
Get in touch with our expert team for further advice and a no-obligation proposal for ensuring your business achieves SECR compliance – you can email email@example.com or call 01756 794 951