In today's business landscape, understanding what to report in terms of carbon emissions is a crucial yet complex task.

Key to success is utilising reliable guidance and making the right choices. It's not only about deciphering mandatory reporting requirements but also about deciding whether to explore the voluntary aspects of carbon reporting. So, how can companies navigate the multitude of sources and voices to make informed decisions?

A good place to start is government resources. Most governments have dedicated websites and documents that outline reporting requirements, standards, and best practices. In the UK, for instance, companies can turn to the government's official website for comprehensive information on the Streamlined Energy and Carbon Reporting (SECR) and the Climate-related Financial Disclosures (TCFD). These resources offer insights into what's required to meet regulatory obligations, setting you on the right path.

But what about sector-specific requirements? This is where industry networks and non-profit organisations come to the rescue. They actively engage with businesses to deliver sector-specific guidelines and support in this relatively new space. Organisations like the Carbon Trust provide free guidance for SMEs and start-ups on carbon emissions reduction strategies and reporting, tailored to various industries.

When it comes to carbon reporting, it’s important to make sure everyone is on the same page. Standards like the Greenhouse Gas Protocol offer universally recognised guidelines for carbon reporting. They provide a common language for companies to communicate emissions data effectively. Adopting these standards can strengthen your reporting's credibility and transparency, especially in a global context.

Even where an organisation has in-house experience, it can be helpful to use external expertise. Environmental consultants, sustainability professionals, and auditing firms are well-versed in the latest regulations and best practices. They can be invaluable partners, helping you navigate the maze of carbon reporting and ensure that your disclosure aligns with your sustainability goals.

Finally, we arrive at the conundrum of voluntary reporting. Companies often wrestle with the question of whether to participate in voluntary initiatives like the Carbon Disclosure Project (CDP) or the Science-Based Targets initiative (SBTi). These initiatives offer a chance to showcase your commitment to sustainability and receive recognition. However, you must weigh the benefits of enhanced reputation and investor appeal against the potential challenges, such as additional resource requirements and transparency demands. Given these considerations, some organisations may choose to align themselves with the SBTi, with the intent of making a formal commitment once the groundwork has been sufficiently laid.

Carbon reporting is not a one-size-fits-all journey. It's about finding the balance between mandatory and voluntary reporting, aligning your disclosure with your sustainability goals. By doing so, you can not only meet regulatory obligations but also position your company as a responsible and forward-thinking leader in your field. So, as you embark on your reporting journey, remember that there's a wealth of resources and expertise to guide you along the way.

Read more about our ESG initiatives and commitment to sustainability in our just-published 2023 Responsible Business Report. Access the report here to explore our journey towards a more responsible business and learn about our commitment to sustainability.

Related News, Insights & Events