Streamlined Energy and Carbon Reporting (SECR)
From financial years beginning on or after 1 April 2019, large UK companies will be required to report publicly on their UK energy use and carbon emissions within their Directors’ Report or an equivalent section within their annual reports. This new requirement has been implemented by the Department for Business, Energy and Industrial Strategy (BEIS).
SECR will impact any companies, LLPs and groups that exceed at least two of the following three thresholds in the last two preceding financial years:-
- £36m annual turnover
- £18m balance sheet total
- 250 employees
For businesses meeting the above criteria, company or group reporting is required regardless of whether an overseas parent company or group has published a similar report. A group may however exclude any energy and carbon information relating to any subsidiaries which would not be obliged to report individually according to the thresholds. After undertaking a calculation, where a company has consumed less than 40 MWh, a disclosure is not required.