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STREAMLINED ENERGY AND CARBON REPORTING
SECR will be the new instrument for organisations to collect, measure and report on their carbon emissions. It is scheduled to replace the CRC Energy Efficiency Scheme (CRC) and comes into force from the 1st April 2019.
The Department of Business, Energy and Industrial Strategy (BEIS) recognised that the range of energy efficiency policies can create complexity and add administrative burdens to those that qualify. In 2016, the UK government announced reforms to improve the tax and reporting regime.
SECR will replace the CRC and is being promoted as a less complicated reporting framework based on existing mandatory requirements for reporting Greenhouse Gas emissions.
Large, unquoted companies and LLPs are the target of the Government’s proposals. The changes will see over 7,900 companies now being required to report on their carbon emissions for the first time.
Revenue generated from the sale of allowances in the CRC scheme (set to be abolished in March 2019) will continue via an increase in the Climate Change Levy (CCL) rate, a non-commodity charge found in utility bills.
SECR FRAMEWORK OBJECTIVES
Reduce the overall administrative burden on participants
Improve incentives to save energy by improving energy efficiency
Drive behaviour changes by raising awareness of energy efficiency with decision makers
Boost the importance of energy efficiency in relation to organisational reputation
Increase transparency for investors so that companies can be held to account
We anticipate a transitional period which will require organisations who qualify to review and make changes to how they collect data, report and demonstrate energy efficiency changes.
Click here to find out how the compliance team can help your business adapt to change
SECR – WHO WILL NEED TO COMPLY?
SECR will replace the CRC Energy Efficiency Scheme which comes into force from April 2019. It is important to note qualifying criteria is changing.
Who is exempt?
Organisations that aren’t registered as companies, such as some charities and public sector organisations, subject to location. It is also important to note that ‘not-for-profits’ organisations such as Universities or NHS Trusts may be eligible.
UK subsidiaries, who meet the eligibility criteria, but are covered by a parent group’s report (unless the parent group is registered outside the UK).
Companies where it is impractical to collect and publish the reporting data, or (only in exceptional circumstances) where this would prove ‘seriously prejudicial’.
Companies that use less than 40,000 kWh of energy during the reporting year.
Landlord / Tenant Responsibilities
In the case of landlord/tenant relationships, the party responsible for consuming the energy is responsible for reporting it, even if not directly responsible for purchasing the energy.
For a company with a financial year beginning:
Compliant documents for SECR are required to be included in the first set of accounts published following:
Helping clients to comply with their legislative obligations through energy efficiency initiatives and reporting tools.
Click here to find out if you meet the qualifying criteria
or call our team 01772 675 294