Energy Data Key for Carbon ReportingThere’s a saying energy data is more valuable than oil and no more so than in the area of carbon reporting. Data is the gold in the carbon reporting loop.
Energy Data is the gold in the carbon reporting loop
There’s a saying energy data is more valuable than oil and no more so than in the area of carbon reporting. Data is the gold in the carbon reporting loop.
Businesses, by law, have to report on their carbon emissions each year. A variety of sources of data is required in order for them to comply. Reporting on bad energy data is bad for businesses and could result in a hefty fine or worse still, a black mark against the business ruining brand and reputation.
Legislation should never be ignored and one that all large companies must take seriously is the Streamline Energy and Carbon Reporting (SECR).
It came into force in April 2019 and requires all large companies and LLP’s to report certain energy usage and carbon emissions. Companies captured under this scheme include those that have two or more of the following criteria; 250 plus employees; Annual turnover of £36m plus, or £18m plus in net asset value.
SECR Fact Sheet
To meet the SECR requirements businesses need to record information on their business’ total global emissions for energy (electricity and gas) and fleet for the financial year, this can be a laborious task. It is also a full-time job for someone to collate and calculate the required information from numerous bills received over the course of the financial year. And that’s if the data is available and the bills have been carefully validated and filed on payment.
Businesses also need to report on the energy efficiency actions made in the financial year and ones you have started but will be complete in the following financial year. These statements show your commitment to climate change and reducing your business’ greenhouse gas emissions.
This will be an annual requirement for your business, so it’s recommended that you get a good data management plan in place to help manage the process of collating, calculating and reporting on gas, electricity and transport emissions.
This is where our Energy Management Spend platform EaaSi™ steps in to digitise and automate this full carbon reporting process. EaaSi automates providing reliable carbon emission performance reporting and emissions assessment, whilst giving you detailed information about your energy use and inefficiencies.
> gather all the required data together direct from your supplier and also any paper or digital bills you have stored.
> validate the data to ensure that the bills are correct – here the system confirms that the total kWh for example is correct. Often the supplier bills are incorrect, and you could be reporting more than you have used and therefore your carbon reporting data could be wildly inaccurate. It’s here we often find that our clients can recoup money back from the supplier in over payment and some businesses have received over £80,000 cash back from.
> complete SECR calculations and undertake Bill Validation activities at the same time.
> help mitigate any poor data issues, poor data in = poor data out. EaaSi stops this in its tracks. EaaSi makes it quick, simple and at the same time validates the data. While poor data out = incorrect net zero carbon reporting for the business which could result in a need to re-submit or a tarnish on a brand and reputation. Poor quality data has a big impact on the quality of reporting and business KPI and goal setting in regards to carbon emissions reductions, targets and environmental social governance (ESG) goals.
Catalyst Digital Energy is an award-winning energy consultancy with a focus on digital energy services, total energy contract lifecycle management and energy management services. It is revolutionising how businesses manage energy with its unique Energy Spend Management Platform, which is powered by Robotic Process Automation (RPA) EaaSi®.
Catalyst is digitising all aspects of energy, including billing, data, consumption, spend, payments, procurement and emissions reporting. When combined with its fully funded renewable energy solutions, Catalyst offers a unique and powerful approach to managing energy.