Starting in 2013, UK companies will have to report their greenhouse gas (GHG) emissions. At the Rio+20 conference in Rio, UK Deputy Prime Minister Nick Clegg announced that starting next April, companies that are listed on the London Stock Exchange will be required to publish their GHG emissions in corporate earnings reports. The rule affects about 1.800 businesses and in 2015, it will apply to all 24.000 large corporations based in the UK. Companies will be required to publish annual GHG emissions, measured in tons of carbon dioxide equivalent.
“While nine out of 10 chief executives say sustainability is fundamental to their success, only two out of 10 record the resources they consume,” Clegg said. Many businesses are welcoming the common standard which will enable shareholders, investors and others to make comparisons.
These new government regulations will provide greater clarity and transparency which will in turn help enhance energy efficiency initiatives.
“Counting your business costs while hiding your greenhouse gas emissions is a false economy,” he was quoted as saying in a statement issued by Britain’s environment department. ”It saves companies money on energy bills, improves their reputation with customers and helps them manage their long-term costs, too.”
The London stock exchange may be at the head of a trend. The Nasdaq and four other stock exchanges said they would urge their 4.600-plus companies to produce sustainability reports.
© 2012, Richard Matthews. All rights reserved.
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