ecoCost software released for corporate trial
ecoCost is now out of the development laboratory and into beta testing. The software is an automated system of accounting for a comprehensive set of corporate ecological indicators.
This public release of ecoCost gives organisations an opportunity to trial the software: there will be no charge for involvement in this testing phase.
Plans published in July 2018 by the UK Government mean that, as of April 2019, over 11,900 organisations in the UK will now need to comply with the new streamlined energy and carbon reporting regulations (SECR).
All large UK incorporated unquoted companies and LLPs qualify for SECR, using The Companies Act 2006 definition of “large” (companies fulfilling at least two of the four following conditions in the financial year: at least 250 employees; annual turnover greater than £36m; an annual balance sheet total greater than £18m; using less than 40,000 kWh of energy).
SECR will replace the current CRC Energy Efficiency Scheme (CRC) with a simpler reporting framework that builds on the existing mandatory reporting of greenhouse gas emissions by UK quoted companies and the Energy Savings Opportunity Scheme (ESOS).
The trajectory of energy and carbon reporting legislation is clearly moving to increase transparency and verified energy data. First-rate systems for managing energy consumption will be key to the new SECR reporting framework and ecoCost is a key player in this arena.
There are existing frameworks and tools for carbon costing and compliance but ecoCost introduces a new, appropriately transparent method to undertake ecological costing and minimise the reporting burden. The software saves resources now and futureproofs ecological accounting.
For those companies which will have to report on energy and carbon for the first time, navigating the complex reporting landscape can be difficult. ecoCost works by integrating ecological measurement from dynamic data alongside existing accounting systems.
Sustainability, compliance and CSR professionals can register interest with ecoCost here. They will gain access to extra resources and advice and be one of the first companies to trial the software.