Streamlined Energy and Carbon Reporting (SECR)
SECR is a reporting requirement for large companies in the UK, aimed at increasing transparency on energy use and carbon emissions. It requires eligible companies to include energy consumption and emissions data in their annual reports.
Large companies are defined as a company that meets two of the three following criteria: turnover (or gross income) of £36 million or more; balance sheet assets of £18 million or more; or 250 or more employees.
According to UK data, of the 5.5m UK businesses, approximately 7,000 fall into this category with over 250 employees.
Task Force on Climate-related Financial Disclosures (TCFD)
The UK has been encouraging businesses to adopt TCFD recommendations, which provide guidance on disclosing climate-related risks and opportunities in financial filings. This promotes transparency and informed decision-making. The TCFD disbanded after its October 2023 report.
Climate-related financial disclosures
This guidance is to help in-scope companies and limited liability partnerships (LLPs) understand how to meet new mandatory climate-related financial disclosure requirements under the Companies (Strategic Report) (Climate-related Financial Disclosure) Regulations 2022 and the Limited Liability Partnerships (Climate-related Financial Disclosure) Regulations 2022.
