ENVIRONMENTAL REPORTING Essay Example | Topics and Well Written Essays - 2000 words

ENVIRONMENTAL REPORTING - Essay Examplea reform comprehension of the risks it is exposed to as a result of climate change and can potentially surmount its costs of energy and other resources as at will gain a positive temperament in the currently competitive corporate sector. The following report explains the UK legal requirements currently upheld and the main willing guidance on environmental reporting.The Companies act of 2006 requires all quoted UK companies to accurately and truthfully pinpoint and report on GHCs (greenhouse gases) that they produce. Quoted companies hereby refer to all UK incorporated companies as well as those whose shares are traded in the NASDAQ, radical York Stock Exchange, European Economic Area, or the London Stock Exchange (Global Reporting Initiative, 2006). As a legal framework, the companys annual report must include the information on emissions to the result that individuals and government agencies will be able to comprehensively understand the companys business. This includes the use of KPIs (key carrying out indicators) such as utility bills if and when applicable in the report. Failure to include the GHCs emissions can be considered to be a violation of the law unless the accountant clearly indicates in the omissions sections that the GHCs emission information was omitted (Pahuja, 2009).The Institute of undertake Accountants in cooperation with the Environment Agency in Wales and England has published direction on environmental reporting that has been face-saving in reporting on environmental impacts and social impacts. When collecting data for and reporting on environmental impacts, the law requires that the following principles are upheld.Data collected and reported must properly portray the impacts that the placement has had on the environment. Being relevant will make the information helpful to internal and external users who readiness need to make various decisions based ion the report. Similarly, accuracy sho uld be attained by reducing uncertainties in the