Businesses have welcomed plans by the Government to ensure that London Stock Exchange companies will be required to disclose their greenhouse gas emissions in their annual reports.
This follows a four year campaign from the Aldersgate Group, the business alliance, which drafted the original amendments to the Climate Change Act.
Andrew Raingold, Executive Director for the Aldersgate Group, said: “The vast majority of businesses strongly welcome the introduction of mandatory carbon reporting. This is an area where corporate executives have been demanding more regulation from government to provide greater clarity and transparency.”
Huge cost savings
He continued: “Our detailed analysis demonstrates that this announcement will lead to huge cost savings for businesses as opportunities to reduce their energy use become more apparent. Over three quarters of UK adults expect that businesses should be required to report their emissions, as demonstrated by a Populus poll that we published last month.”
Count the cost
Deputy Prime Minister, Nick Clegg said: “Counting your business costs while hiding your greenhouse gas emissions is a false economy. British companies need to reduce their harmful emissions for the benefit of the planet, but many back our plans because being energy efficient makes good business sense too. It saves companies money on energy bills, improves their reputation with customers and helps them manage their long-term costs too. Climate change is one of the gravest threats we face. The UK is leading the urgent action needed at home and abroad.”