Sustainable Business

Legislation Mandatory reporting 4/4 therefore the metrics for measuring success," says Baxter Long-term vision is therefore crucial, says Baxter, when setting up systems to record, manage and report greenhouse gas emissions, and will be essential for businesses to attract investment and protect their own investments. "Companies need to think beyond the immediate requirements of the new GHG reporting regulations when they are looking to implement data management and reporting internally. They need to consider the obligations under the current schemes and regulations, but importantly how they might develop in the future so that when you're making the investment now you are actually able to satisfy potential future requirements," he says. "It will be about how businesses shape reporting systems to match their overall objectives including where they want to be in 10, 20, 30 years – bearing in mind that we might be doing business, ideally, in a low carbon economy," adds Baxter. And it's clear that the regulation is being positioned as game-changer to help create that low-carbon economy, with Government estimating it will save four million tonnes of CO2 emissions by 2021. And this figure could be considerably higher if the requirements are extended beyond the LSE-listed companies. In any case, it should continue to drive behavioural change amongst the big corporate players which, it is hoped, will begin to filter down to smaller companies, currently excluded from the reporting requirements, even if mandatory reporting is not extended to them. But, says Baxter, future success relies very much on business attitudes and how they approach their reporting responsibilities to ensure this is "not reporting for reporting sake but reporting to stimulate action to make improvements". timeline rbon reporting Mandatory ca July 2012 nounced Regulation an cember 2012 October to De alised Regulation fin 12 December 20 guidance nsultation on Co arch 2013 January to M comes law Regulation be wards April 2013 On lation in effect Regu 2015 be reviewed Regulation to

• Cover