5th International Conference : Gary Davis


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5th International Conference : Gary Davis

  1. 1. Mandatory Reporting: A Flexible Friend?13th March 2013
  2. 2. What does Ecometrica do?Environmental accounting with a focus on greenhouse gas emissions, water, forestimpacts, land use change and biodiversity
  3. 3. Selected Clients
  4. 4. • The Greenhouse Gas Emissions (Directors’ Reports) Regulations 2013*• Defra – Guidelines for Company Reporting on GHG Emissions*• IPCC – Guidelines for National GHG Inventories*• WBCSD/WRI – Greenhouse Gas Protocol*• WBCSD/WRI – Greenhouse Gas Project Accounting Standard*• WBCSD/WRI – Greenhouse Gas Scope 3 Accounting Standard*• PAS 2050 – Assessing the life cycle greenhouse gas emissions of goods and services*• The CarbonNeutral Protocol*• The Carbon Trust Standard*• Carbon Disclosure Project• Carbon Reduction Commitment• ISO 14064• PAS 2060 - Specification for the demonstration of carbon neutrality• The Climate Registry• Western Climate Initiative (WCI) Cap and Trade Program , North America*• Bilan Carbone• Global Reporting Initiative• EU Emissions Trading Scheme• Wal Mart Sustainability Questionnaire• Voluntary Carbon Standard• Clean Development Mechanism• Pan Vivo*• Woodland Carbon Code – UK Forestry Commission• EU technical guide for the calculation of the environmental footprint of companies• EU harmonised methodology for the calculation of the environmental footprint of products*Ecometrica’s analystsprovided input to thesestandards
  5. 5. The Greenhouse Gas Emissions(Directors’ Reports) Regulations 2013
  6. 6. Mandatory GHG Reporting – The Rules• All UK firms listed on main index of LSE (1,100)• Report greenhouse gas emissions in Directors’ reports• All Kyoto GHGs (not just CO2)• Global Operations• Must report GHG emissions for “all assets that are owned, controlled or operated”• Scope one and two• In directors reports after 1st October 2013• Cements current best practice in GHG reporting into law• Choice of GHG accounting protocol
  7. 7. Organisational GHG Accounting Standards(Top 3)1. Greenhouse Gas Protocol (WBCSD/WRI)2. ISO 14064 (ISO)3. Guidance on how to measure and report your greenhouse gas emissions (Defra)
  8. 8. What does it mean for the companies thathave never reported – how hard is it?• Have to start from the beginning• Will most likely need to appoint expert consultants or implement a GHGaccounting system or both• More reliance on Defra GHG accounting guidelines
  9. 9. What does it mean for companies thatalready report emissions?• Gap analysis to see if existing reports meet requirement• All GHGs?• All Scope and One and Two?• Global operations?• All assets that are owned controlled or operated?• Have to think about previous GHG reports and if need to be restated• Have to think about how any restatements impact efforts toward reduction targets
  10. 10. What is the latest news on the reportingrequirements?• “all assets that are owned, controlled or operated”.....?• Compliance period begins from October 1st
  11. 11. Why is the flexible approach a good thing?• It’s easier for the reporting companies• Companies can maintain consistency with existing reporting• Companies can set boundaries for things they can realistically get data for
  12. 12. Why is the flexible approach a bad thing?
  13. 13. How are companies responding to the newrequirement?• A broad spectrum from the head in the sand to ultra prepared• Many are worried about the accuracy of the results and whether it would pass audit• No audit requirement but many are planning to have audit anyway
  14. 14. What is the point?To reduce emissions
  15. 15. Will it work?I don’t know but my hunch is yes
  16. 16. To summarise• Regulations enter in to effect in April• Compliance period commences after October 1st 2013• Regulations likely to allow more flexibility for reporting companies• This will be better for reporting companies• This is likely to give better quality GHG reports• Means that comparing between companies is not necessarily possible• Might encourage companies to report and manage less emissions• The new UK legislation will bring its own challenges• But it is likely to result in emission reductions
  17. 17. Thank YouContact:Gary Davis, Operations Directorgary.davis@ecometrica.com+44 (0) 131 662 4342