Wedlake Bell was first to comment in October 2010 that the CRC Energy Efficiency Scheme (the CRC Scheme) should be replaced with a simple carbon tax and mandatory greenhouse gas (GHG) reporting. Whilst the CRC Scheme remains on its death bed the UK will soon see the introduction of regulations long anticipated under the Climate Change Act 2008 requiring mandatory GHG reporting by companies whose securities are listed on the LSE's Official List. Whilst the regulations will come into force on 1 April 2013 the new reporting regime will only come into effect on 1 October 2013, at which point the more significant changes to corporate narrative reporting will also be introduced. This linkage is very welcome.
Wedlake Bell is at the forefront of advising on the governance issues arising from mandatory GHG reporting and the promotion of a low carbon economy more generally. Our experts have delivered major carbon and energy compliance programmes for all types of businesses, including leaders in the construction, real estate, insurance and banking sectors.
We are currently working closely with the Quoted Companies Alliance, the representative body for the small and mid-cap listed sector, on governance issues, including mandatory GHG reporting.
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