Getting ahead of your sustainability data
A recent review [i] has shown that nearly half of the FTSE 100 restated their sustainability disclosures this year. This was due to data errors or changes in the methodology for collecting data. Of the restatements, 89% were related specifically to greenhouse gas (GHG) emissions.
The review by Deloitte highlights the increasing importance of climate and sustainability data for businesses of all sizes, not just those quoted. With the EU’s adoption of CSRD and enhanced climate reporting regulations expected to be announced in the UK in 2025, more companies will be required to present sustainability information in their financial statements.
Whether your company currently reports against Streamlined Energy and Carbon Reporting (SECR), the UK’s adopted Taskforce on Climate-related Financial Disclosures (TCFD), or is completely new to climate reporting, the quality and completeness of your data are critical.
Climate and sustainability reporting should be a priority for your business; getting ahead of your data will allow you to more effectively manage risks facing your business. High-quality data and reporting also has the added benefit of keeping long-term sustainability compliance costs down.
Building a high-quality and dynamic climate and sustainability data system that is responsive to regulatory change requires multiple considerations, including:
- Do you have an in-depth understanding of your business’s activities and emissions profile across your value chain?
- Have you mapped out your existing available data and considered where there may be gaps?
- Have you established a clear methodology for collecting, measuring and reporting your data?
- Have you considered where data estimations will be required and established a clear methodology to support these estimates?
- Where data is not currently available, have you considered how you can improve your data collection processes?
We support businesses needing to optimise their climate and sustainability data. From understanding your company’s scope 1, 2 and 3 emissions profile, to providing assurance over GHG data systems, our team is equipped to help you on this journey.
Contact us for a no-obligation discussion with our team.
