The British Deputy Prime Minister Nick Clegg announced at the Rio+20 summit on Wednesday that all 1,800 firms listed on the London Stock Exchange’s Main Market will be required to list their greenhouse gas emissions from next April. The move will make Britain the first country to require its companies to include emissions data for their entire organisations in their annual reports.
At a side event at the UN Conference on Sustainable Development, Clegg said that the reporting would help corporations and investors identify potential areas of savings that can be made through energy efficiency.
“Counting your business costs while hiding your greenhouse gas emissions is a false economy,” he was quoted as saying in a statement issued by Britain’s environment department.
“British companies need to reduce their harmful emissions for the benefit of the planet, but many back our plans because being energy-efficient makes good business sense, too. It saves companies money on energy bills, improves their reputation with customers and helps them manage their long-term costs, too.”
This is not a spur-of-the-moment decision, as the regulations have been under discussion between government and business for some months now. Introduced at the start of the next financial year in April, the regulations will be reviewed in 2015, and a decision will be made whether the requirement would then be extended to all large companies in 2016.
Source: GO MEDIA: Writen by JOSHUA S HILL - Source: AFP - Image Source: D1v1d