New UK regulations require Directors to report on their environmental KPIs and Trucost has helped Defra (Department for Environment, Food and Rural Affairs) to produce the Environmental KPI Reporting Guidelines for UK Business. Elliot Morley, Minister of State for Climate Change and Environment, says: "These Guidelines will make it easier for businesses to address their most significant environmental impacts and to report on them in a way that meets the needs of their shareholders and other stakeholders.
Trucost has developed a suite of tools to help companies identify their appropriate environmental KPIs using this framework and has worked with many leading companies on this, including Avis, Legal & General, Logica and Prudential.
Environmental impacts are assessed against a standard set of materiality criteria which relate a company’s use of environmental services and natural resources to shareholder value
Issues will be prioritised in rank order to determine relative levels of significance
A Key Performance Indicator (KPI) framework will be constructed to enable ongoing management of these issues and risks
Trucost has developed a suite of tools, including emissions calculators, to help companies measure environmental impacts on an ongoing basis
This provides as assessment of the material issues for a company, along with comparisons with the peer group and sector. The report will also detail an action list and road map with Key Performance Indicators that will enable a company to create value from addressing environmental issues in a clear and systematic manner. Click on the link above to download a Trucost Briefing on the OFR and EU Modernisation Directive.