TCFD

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Are you prepared for TCFD? As of April 2022, the largest UK registered companies and financial institutions are required to include climate-related financial disclosures in their mainstream annual reports. Failure to adhere to TCFD guidance could have serious consequences:

1. Damage to Investor Appeal and Talent Retention: Investors and top talent are increasingly prioritizing companies committed to environmental sustainability. Inadequate TCFD compliance may deter both.
2. Risk of Government Penalties: Non-compliance with TCFD reporting requirements could lead to government-imposed penalties.
3. Reduced Supply Chain Opportunities: Failure to disclose climate-related data might result in missed opportunities within your supply chain, potentially causing a loss of business.

Many organizations lack the expertise, robust data, and state-of-the-art systems needed to fully leverage TCFD compliance. That's where we step in.

Why TCFD Matters

The Task Force on Climate-related Financial Disclosures (TCFD) provides a recommended framework for voluntary climate-related financial disclosures within your annual reports. It aligns with the UK government's mandate for large companies to support the transition to a low-carbon economy.

Adopting TCFD recommendations in your reporting serves as a vital guide for investors, lenders, and stakeholders, demonstrating your business's resilience against climate change. TCFD requires disclosures in four key areas: Governance, Strategy, Risk Management, and Metrics and Targets.

Will You Qualify?

TCFD's coverage is set to expand significantly over the next few years:

• 2021: Premium listed companies, occupational pension schemes (>£5bn), banks, building societies, and insurance companies.
• 2022: UK registered companies, listed companies, occupational pension schemes (>£1bn), and the largest UK authorized asset managers, life insurers, and FCA-regulated pension providers.
• 2023: Other UK authorized asset managers, life insurers, and FCA-regulated pension providers.
• 2024/25: Further refinements to measures across categories may be considered.

Not Yet Captured by TCFD?

For companies not yet included in the scheme, voluntary TCFD reporting is a wise choice. Investors increasingly demand greater transparency in climate-related financial disclosures, and a competent TCFD report can enhance your ESG ratings.

What You'll Get

Our services provide high-quality, data-driven disclosures that are both understandable and seamlessly integrated into your internal processes. You can expect:

1. ESG Assessment
2. Climate Impact Framework Assessment
3. Carbon Balance Sheet (Including Scopes 1, 2 & 3 Emissions)
4. Carbon Action Program
5. Fully Compliant TCFD Disclosure

Why Choose Us?

Our journey with you begins with a comprehensive gap analysis of your existing disclosures to maximize their value. Climate scenario analysis, aligned with TCFD guidelines, is standard in our approach. We'll craft a clear and actionable plan to help you achieve your net-zero targets, making investments more accessible and carbon reductions quicker to realize.

It's Time to Get Started

No matter where you are on the roadmap for mandatory TCFD disclosures, understanding the strategic and process-driven value of climate-related disclosures is crucial. With us, you can:

1. Improve Your ESG Ratings and Gain Investor Confidence
2. Demonstrate Commitment to Meeting Net Zero Targets
3. Accurately Assess and Price Risks and Opportunities

Partner with Powerwise UK and navigate the world of TCFD compliance with confidence. Together, we'll power your journey toward a sustainable and prosperous future..

Tel:  0330 118 9848  or email hello@powerwise.uk

At Powerwise UK, we pride ourselves on being more than just your average energy consultant. Our commitment to sustainability and environmental responsibility sets us apart, and one of the ways we help our clients make a difference is by assisting them with Streamlined Energy and Carbon Reporting (SECR).

Understanding SECR

Streamlined Energy and Carbon Reporting (SECR) was introduced in 2019 to replace the Carbon Reduction Commitment (CRC) Scheme. Its primary goal is to enhance transparency in carbon reporting while promoting energy efficiency within businesses. SECR not only benefits the environment but also contributes to economic advantages, helping companies reduce costs and enhance operational efficiency.

The Key Components of SECR

SECR mandates obligated companies to report their energy consumption and associated greenhouse gas emissions annually within their financial accounts for Companies House. Moreover, it necessitates the reporting of energy efficiency measures and emissions with reference to an intensity metric, typically represented as tonnes of CO2e per £1 million sales revenue.

By participating in SECR compliance, businesses play a pivotal role in the collective effort to decarbonize the UK power system, actively contributing to the reduction of climate change's adverse effects.

Are You Obligated for SECR?

SECR applies to specific categories of companies. If your organization falls under any of the following criteria, SECR compliance is mandatory:

1. Quoted Companies: This category includes all quoted companies in the UK.
2. Large Limited Liability Partnerships (LLPs): Large LLPs must also comply with SECR regulations.
3. Large UK Incorporated Unquoted Companies: Large unquoted companies incorporated in the UK are obligated to adhere to SECR requirements if they meet two or more of the following qualification criteria:
   
   • Employ 250 or more individuals.
   • Exhibit a turnover exceeding £36 million.
   • Possess a balance sheet with a value surpassing £18 million.

However, it's important to note that organizations consuming less than 40,000 kWh per annum are exempt from SECR reporting.

How Powerwise UK Can Assist

Powerwise UK offers a comprehensive suite of services, including our Platinum Bureau Service Package, designed to make SECR compliance seamless for your business. Our expert consultants have a deep understanding of SECR regulations and can assist you in meeting your reporting obligations efficiently and accurately.

When you partner with Powerwise UK, you gain a trusted ally dedicated to helping you navigate the complexities of SECR reporting, reduce your environmental footprint, and contribute to a greener, more sustainable future.

Join us in the fight against climate change. Contact Powerwise UK today and let us guide you towards a brighter, more environmentally responsible future through streamlined energy and carbon reporting. Together, we can make a significant impact on our planet's well-being while achieving cost savings and operational efficiencies for your business.

 At Powerwise UK, we are deeply committed to reducing carbon emissions and safeguarding our planet not only for today but for future generations. Our mission extends beyond mere compliance with regulations; we help businesses achieve their carbon reduction goals with a comprehensive carbon management offering.

The Power of Carbon Management

Carbon management is the key to effectively measuring and managing carbon emissions within your organization. It involves understanding how and where your activities generate greenhouse gas emissions. With carbon management, you gain insights that go beyond mere data – you gain the power to make impactful changes.

Unlocking Business Benefits

Many businesses have recognized the financial and efficiency opportunities inherent in measuring, reducing, and offsetting carbon emissions. Beyond the noble cause of environmental responsibility, there are tangible business benefits to be reaped, such as:

• Competitive Advantage: Leading the charge in carbon reduction can set your business apart in the eyes of environmentally conscious consumers.
• Future-Proofing: Preparing for future legislation is crucial. Being proactive in managing emissions can keep you ahead of the regulatory curve.
• Cost Savings: Reducing energy consumption not only reduces carbon emissions but also cuts operational costs, making your business more financially resilient.

The Carbon Management Pathway

At Powerwise UK, we assist organizations at every stage of the carbon management pathway. Here's a breakdown of our comprehensive services:

1. Measure Your Emissions: We help you calculate the carbon footprint of your organization in line with the GHG Protocol Corporate Standard, covering scope 1, 2, and 3 emissions, as required.

2. Target Setting: Set realistic targets to reduce your carbon footprint over time. We can help you establish Science-Based Targets or commit to Net Zero if desired.

3. Reducing Emissions: We provide bespoke carbon management plans tailored to help you achieve specific carbon reduction targets. Our plans also include recommended improvement areas. For organizations bidding for government contracts, we can create plans to comply with PPN 06/21.

4. Offsetting: We assist you in procuring high-quality, third-party verified offsets to complement emissions reductions as part of your carbon management strategy. We provide certification of Carbon Neutrality to showcase your commitment.

 At Powerwise UK, we believe that energy efficiency goes beyond mere compliance—it's about making a lasting impact on your bottom line and the environment. We are here to guide you through the Energy Savings Opportunity Scheme (ESOS), ensuring that you not only meet your obligations but also uncover new avenues for energy savings and sustainability.

Understanding ESOS: Going Beyond Compliance

The Energy Savings Opportunity Scheme (ESOS) is a crucial mandate for large organizations operating in the UK. Its primary objective is to drive energy efficiency by necessitating energy audits and reporting to the Environment Agency. But at Powerwise UK, we see ESOS as more than just a regulatory requirement; it's an opportunity for businesses to embrace sustainability and enhance their operational efficiency.

Are You Obligated for ESOS?

ESOS compliance is divided into phases, and we are currently in phase 3 of the scheme. Each phase has a qualification date and a compliance deadline. Organizations fall under ESOS phase 3 if, on the qualification date of 31 December 2022, they meet one of the following criteria:

1. Employ 250 or more people.
2. Have an annual turnover exceeding £44 million and an annual balance sheet total exceeding £38 million.
3. Are overseas companies with a UK registered establishment that employs 250 or more UK employees who pay income tax in the UK.

Organizations obligated on the qualification date must comply with phase 3 by the extended compliance deadline of 5 June 2024, which was granted due to recent changes in phase 3 requirements (initial deadline: 5 December 2023).

Beyond Compliance: A Commitment to Sustainability

Increasingly, businesses that may not meet the above thresholds are voluntarily conducting ESOS assessments. Why? Because they understand that going beyond compliance is not just a regulatory necessity; it's a commitment to mitigating climate change and achieving long-term sustainability.

By participating in the ESOS scheme, businesses can:

• Improve Energy Efficiency: ESOS assessments identify opportunities to optimize energy and fuel usage, leading to cost savings and reduced environmental impact.
• Reduce Carbon Emissions: Reducing energy consumption directly translates to lower carbon emissions, contributing to a greener, more sustainable future.
• Reap Financial Benefits: Sustainable practices not only benefit the environment but also boost your bottom line through reduced energy costs and enhanced operational efficiency.

Join Us in the ESOS Journey

At Powerwise UK, we are not just your ESOS consultants; we are your partners in sustainability. We understand that ESOS compliance is not just about ticking boxes; it's about making a positive impact on your organization and the world. With the phase 3 extended compliance deadline of 5 June 2024, you have an opportunity to embark on a transformative journey towards energy efficiency and sustainability.

Contact us today, and let's embark on the ESOS journey together—beyond compliance, towards a more sustainable future.