Mandatory Carbon Reporting
Under the Companies Act 2006 (Strategic and Directors' Reports) Regulations 2013, quoted companies are required to report their annual greenhouse as(GHG) emissions in their directors' report.
All companies that are listed on the Main Market of the London Stock Exchange have to report their Scope 1 emissions (direct combustion from plant and vehicles and emissions from refrigerants) and Scope 2 emissions (Electricity use and imported heat or steam) annually. This covers not only carbon dioxide but all six greenhouse gases (CO2, CH4, N2O, HFC, PFC, SF6).
Why Independent Assurance?
As reported by DEFRA Verification of your data by a third party assurance provider:
- is "key to obtaining reliable and accurate data"
- is "important to allow investors to use the data to make investment decisions"
- would "protect companies from the risk of reporting inaccurate figures".
Why Choose Lucideon?
- Reduce reputational risk. We understand greenhouse gas emissions, we verify over 500 sites for mandatory carbon reporting (MCR, EU ETS, CRCEES). Companies and financial auditors prefer to have carbon numbers verified by an independent GHG specialist before sign-off and release into the public domain.
- Clear communication and continuity of auditor. You will be appointed a dedicated lead auditor, who understands your industry and your concerns, and who will act as your single point of contact to coordinate the process. This saves your time and effort.
- Knowledge. Our robust procedures ensure that verification is performed to the latest industry standards "best practice" keeping you ahead of the curve and your competitors.
- Where possible, data is verified centrally, minimising time and cost.
Defra, the regulator states:
- "Independent assurance provides a level of confidence in report and the use of the data for decision making,"
- "There are risks to businesses of not obtaining verification of their emissions reports. Verification statements are a statement of confidence in the information reported and unreliable data may lead to charges of ‘greenwash'."