UK Carbon Reporting Framework launched

Environmental update 14/09/2011

In a bid to encourage firms to achieve their green goals, the UK Carbon Reporting Framework has been introduced.

Developed by British Airways, Deloitte, Forum for the Future and BRE, the Framework aims to match companies wishing to support green projects with such schemes, such as community-owned sustainable energy installations.

The Framework hopes to eventually channel millions of pounds into green projects across the country, by breaking down the confusion surrounding the benefits that those who do fund renewable energy projects can claim. Currently, the uncertainty about the impact of investing in such projects is preventing many potential funding firms from putting up the much-needed money.

The Framework will now require standardised carbon measurements to be used to work out the carbon reductions linked to the projects, which can then be attributed to the funding organisation.

BRE's Jon d’Este-Hoare said, “Our research and other evidence strongly demonstrates that UK corporates want to support carbon reduction projects in this country. There is also a ready supply of high quality projects in need of funding. UK-based carbon reduction projects do not qualify for carbon offsetting schemes, but offsetting is not the only way – or motivation – for companies to support these projects."

“The reasons why companies want to support UK based projects are many and varied,” he added.

The first company to support the new Framework will be British Airways, which has launched its new One Destination Carbon Fund. Head of Environment at British Airways, Jonathon Counsell, said, “The UK Carbon Reporting Framework marks a milestone for carbon management in the UK.”

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