Alfa Energy welcomes new digital SECR reporting tool
Published March 31, 2020
Alfa Energy has welcomed the release by the
Department of Business, Energy and Industrial Strategy of a new tool to allow
businesses to file energy and carbon data required by SECR in digital format with
Nick Fedson, a sustainability analyst at
Alfa Energy, said: “Digital reporting is currently not mandatory for SECR. This
digital taxonomy may encourage more organisations to choose the optional route
and may strengthen the case for making standardised digital reporting
mandatory. It is also encouraging to see that the taxonomy includes entries for
TCFD filings – a global standard for similar reporting that UK companies are
The tool enables businesses to report information
in XBRL format, in the same way as financial accounts. Many companies already
submit accounts using XBRL, but this is the first time it has been utilised to
capture environmental data in annual reports.
BEIS developed the taxonomy in
collaboration with the Financial Reporting Council and Companies House. It is
hoped the tool should make it more convenient for businesses to comply with
SECR legislation, which came into force on 1 April 2019, requires all large UK companies and large LLPs, as well as all quoted companies, to report on the annual energy use, greenhouse gas emissions, and energy efficiency actions they have taken. Other businesses can also include the disclosures on a voluntary basis.
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