DESNZ launches consultation on scope 3 GHG emissions reporting

Article summary

The Department for Energy Security and Net Zero (DESNZ) has launched a consultation, calling for evidence on the benefits, costs and practicalities of Scope 3 greenhouse gas (GHG) emissions reporting in the UK and the current Streamlined Energy and Carbon Reporting (SECR) framework. The aim of the consultation is to help inform the government’s decision on whether to endorse the International Financial Reporting Standards in the UK and to inform a Post-Implementation Review of the policy. The DESNZ notes in the consultation document that Scope 3 emissions account for approximately 80-95% of the total emissions for a large number of organisations and reducing these emissions from the UK can help achieve the UK’s Net Zero target by 2050. The consultation closes on 14 December 2023.