What and How to Report
Reporting/disclosure is a complex area. It can be carbon specific or part of wider sustainability/ESG reporting. Consumers are increasingly interested in the reliability of retailers' sustainability credentials and investors are looking at their exposure to climate related risk. Companies failing to make sufficient progress or be transparent could suffer reputation damage, fines or be unable to access the most favourable financial arrangements.
There are many sustainability and climate reporting and disclosure schemes but there attempts at condensing and aligning. The four global disclosure frameworks most commonly referenced are CDP, GRI, SASB and TCFD (Task Force on Climate Related Financial Disclosures). There are some reporting regimes that are mandatory for larger UK companies such as the Streamlined Energy and Carbon Reporting (SECR) requirements.
The ISSB aims to create a global sustainability baseline for reporting through its frameworks S1 (sustainability) and S2 (climate). These are voluntary but many countries are looking to incorporate them into their mandatory reporting regimes. The UK Government is currently consulting (as of 2024) on the adoption of these S1 and S2 for the UK's Sustainability Disclosure Standard. A consultation will begin led by the FCA on implementation of disclosure rules and also reporting through mandatory transition plans for larger companies, a template for transition plan reporting was published in October 2023 . If you operate in Europe, the EU's reporting regime CSRD may apply. Read our explainer.
Measuring and Target Setting
The Green House Gas (GHG) Protocol is a widely used global GHG accounting standard. It sets the standard to measure and manage emissions.
Science Based Targets are a way to show ambition and progress on emissions reduction by making a public commitment and they can help drive reductions across the supply chain. Targets are considered ‘science-based’ if they are in line with the Paris Agreement – limiting global warming to 1.5°C above pre-industrial levels.
View our webinar ‘Setting Science Based Targets for Retailers’
Since 2023, companies must also report and set targets for their forestry, land and agriculture emissions – known as FLAG. You can find out more on our webinar.
You can find out more about carbon calculation here.
If you need to find out how to get started, listen to our webinar with the Carbon Trust
Data
Most retailers admit challenges in obtaining the timely and transparent information that they need on their up and down stream emissions. Without data it’s hard to assess where emission hotspots are in your products and operations and gauge whether you are effectively decarbonising. Increasingly, consumers and investors demand data driven information that enables them to make purchasing and investment decisions and to ensure that they are not subject to ‘green-washing’.
BRC is currently involved in a number of data related projects:
Carbon Foot-printing. BRC is working with Mondra, retail members and suppliers on a consistent carbon foot-printing standard.
View the Mondra and AlixPartners webinar on putting data at the heart of decision making
Read the AlixPartners and Mondra guide Commercial Imperative of Carbon Managment
Listen back to Environmental Product Footprinting At Scale
Environmental labelling
BRC and its members are participating in an industry-wide project led by IGD to develop consistent grocery environmental labelling. Read more.
BRC Roadmap signatories can join our Reporting and Data Pathway Steering Group, contact Nicki Hunt for more details.