Writing in the foreword to the consultation on proposed reforms to energy and carbon reporting, BEIS minister Claire Perry said: ‘Although quoted companies report emissions now, and many other businesses report voluntarily, there remains an information gap for market actors. Investors want greater disclosure so that energy and climate risks and opportunities can be accurately priced and factored into their decisions.

‘Companies can use marketable, comparable business disclosures to enhance their reputations and gain market share. Energy service providers will know where the opportunities and challenges lie so that innovation can flourish, and they can support businesses to reduce energy costs.’

This consultation is asking for views on the mandatory annual reporting and disclosure of energy and carbon information through company accounts, including who these requirements should apply to.

It also considers the reporting of cost-effective energy efficiency opportunities, such as those identified through energy savings opportunity scheme (ESOS) audits, and action taken on these, complementary disclosures, and electronic reporting.

BEIS has published for consideration a set of impact assessments providing estimates of average annual energy savings, energy cost savings to companies and the change in overall annual administrative burdens on businesses in a number of scenarios. The consultation is seeking additional evidence on costs and benefits to business of the proposals.

BEIS is holding a launch event about the consultation on the morning of 9 November, at the BEIS Conference Centre, 1 Victoria Street, London, SW1H 0ET.

To register email [email protected] by 6 November

The consultation closes on 4 January 2018.

Open consultation Streamlined energy and carbon reporting is here.

Report by Pat Sweet