Compliance with carbon legislation such as Streamlined Energy and Carbon Reporting (SECR) has become a corporate obligation. But it can also unlock a range of opportunities for businesses seeking sustainable growth.
This is because the energy audit and reporting involved in carbon compliance can gather valuable data. This can then help to unearth hidden financial savings by highlighting areas of inefficiency and waste. Not to mention, sealing those leaks to reduce carbon emissions.
So, while it is often seen as a tedious piece of admin, SECR can help organisations prepare for the UK’s transition to a net zero economy. Smart energy management can also help to build a resilient foundation for any future business.
Here are some of the hidden benefits businesses are privy to if they make the most of SECR.
Getting more out of your energy audit
If your organisation falls within the scope of SECR, your energy and carbon reporting is already a priority. But the data collected has value far beyond mandatory compliance.
Submetering and monitoring provide a window into the performance of your building. Helping to pinpoint any weaknesses and inefficiencies in your systems. This holistic view of your energy use and carbon emissions can help you build a smarter, data-driven sustainable strategy.
With the next-generation technology available today, you can go beyond the data and incorporate smart controls. Our sister company, t-mac, offers Building Management Systems (BMS) that enable real time insights with IoT technology. For big energy users, this is an invaluable energy management tool for streamlining carbon compliance processes.
Ignoring this data after the initial report would mean that you risk wasting time and money on energy admin. It would culminate in nothing more than standard compliance.
Preparing for future Scope 3 reporting
Currently, organisations are mandated to report on only scope 1 and 2 emissions.
Scope 1: Direct emissions from company operations such as company vehicles or factories
Scope 2: Indirect emissions from company operations such as purchased electricity generated by fossil fuels
But it is a long road to net zero, and scope 3 emissions will likely become a part of mandatory reporting before 2050.
Scope 3: Indirect emissions from company supply chains such as shipping, business travel, and raw material extraction
By making the most of your current reporting you can prepare your organisation for future compliance. This gives you an advantage over your competitors and helps mitigate any risks, and costs, involved in last-minute reporting.
Boosting your green credentials
Businesses are waking up to the rapidly evolving corporate landscape and the growing focus on transparency. With climate change now being widely recognised as a global challenge, it is clear that every industry will have to innovate and adapt. Any organisation’s growth and longevity will increasingly rely on its levels of sustainability and environmental, social and governance. Both at a leadership level but also embedded in the corporate identity as a whole.
SECR compliance spans areas like energy management, sustainability, and financial reporting. This challenge can be transformed into an opportunity by establishing open communication between teams and forming a more cohesive SECR team.
When EIC helps a client navigate complex carbon legislation, we go beyond compliance. By establishing a long-lasting sustainable strategy for your team, we help to incorporate green values into every part of your corporate identity.
Beyond compliance, genuine sustainability will become an expectation among employees, customers and stakeholders. While greenwashing is widespread now, with companies cashing in on the climate-friendly trend, this won’t be an option for long. With transparency made mandatory and rising interest from the general public, companies will struggle to hide their skeletons.
SECR can help you begin your sustainable journey by rallying your team around your environmental mission.
How can EIC help?
At EIC, we provide businesses with end-to-end guidance and support for carbon compliance including EPBD, ESOS and SECR. Our dedicated carbon consultants have supported over 300 organisations, many of them are big energy users with complex energy admin. Our goal is to simplify and streamline your energy management from utility connections to net zero guidance.
If you want to understand how to put the findings from your SECR reporting to good use or need to begin the reporting process, contact us at EIC today.