Greenhouse gas monitoring is another tool that companies can use to review their resource consumption and identify hotspots or opportunities for cost savings.
Many of the greenhouse gas sources that occur at production sites are related to cost intensive processes such as steam generation and logistics.
Businesses have many stakeholders that they have to work with. In recent years, stakeholders have used their influence with businesses to demand action regarding GHGs, examples are:
- Customers wanting to purchase from companies that use 100% renewable energy
- Investors wanting to invest in companies with net zero targets
- Large scale government contracts being dependent on service providers having net zero targets and action plans
Many companies choose to monitor greenhouse gas performance and publicly report this information as part of their annual financial reporting. In the UK it is a requirement to report greenhouse gas emissions performance as part of an annual report under the Streamlined Energy and Carbon Reporting Regulations (SECR
) if a company meets two or more of the following:
- Turnover (or gross income) of £36 million or more.
- Balance sheet assets of £18 million or more.
- 250 employees or more.
Large and small organisations that demonstrate management of their emissions can experience numerous advantages. This can include attracting environmental investors and demonstrating better environmental performance than competitors, potentially leading to business opportunities.