A reform package aimed at reducing administrative burdens and raising energy efficiency awareness has been published.
The streamlined energy and carbon reporting consultation is seeking views on how to replace the reporting element of the Carbon Reduction Commitment, which will be abolished after the 2018/19 compliance year.
That includes mandatory annual reporting and disclosure of energy and carbon information through company accounts, who the requirements should apply to and energy efficiency opportunities as well as electronic disclosures.
UK quoted companies are already required to report annually on their greenhouse gas emissions, which includes those emitted outside the UK.
The government intends to retain this requirement and further proposes they should be required to disclose total global energy use across all energy types.
Industry and Climate Minister Claire Perry said: “Public disclosure can make the economy more efficient and more stable. They can address an important market failure – lack of information on exposure to energy and climate related risks.
“Although quoted companies report emissions now and many other businesses report voluntarily, there remains an information gap for market actors. Investors want greater disclosure so that energy and climate risks and opportunities can be accurately prices and factored into their decisions.”
The consultation will run until 4th January 2018.