Reducing energy usage could see businesses across the UK save as much as £6 billion.
That’s the suggestion from Energy Minister Kwasi Kwarteng, who suggests this is possible if business energy use falls by 20% by 2030.
He noted this would also help stop 22 million tonnes of carbon dioxide emissions entering the atmosphere, a figure equivalent to the annual emissions of 4.6 million cars.
New Streamlined Energy & Carbon Reporting requirements (SECR) will mean around 12,000 large or listed businesses need to report their energy use and carbon emissions alongside their annual reports for the first time this year, as well as explain the measures they are taking to reduce their energy consumption in a drive to reduce carbon emissions from commercial buildings.
Businesses are also required to confirm they have carried out a full energy audit known as the Energy Savings Opportunity Scheme (ESOS) at least every four years.
Energy and Clean Growth Minister Kwasi Kwarteng said: “Evidence shows that reporting energy use saves businesses on their bills, can boost productivity and attract increasingly green-minded customers by showing they’re committed to fighting climate change.
“These latest requirements are coming into force in this year of climate action and will help take businesses’ energy savings to the next level, cutting emissions and boosting bottom lines as we work towards net zero by 2050.”