All British companies will have to report their carbon emissions in a standard way by 2012

British MPs passed an amendment to the Climate Change Bill so that all large and medium sized companies will have to report their carbon emissions in a standardised way by 2012.

The Aldersgate Group, a coalition of companies and environment groups, have long argued that such legislation would be a significant driver for change and competitive advantage in the corporate sector.

‘It would create a level playing field, allowing consumers and investors to make meaningful comparisons, and give the City the backing it needs to become the world leader in carbon accounting and reporting,’ said the Group.

Peter Young, chairman of the Aldersgate Group, said: ‘We applaud the government's decision to require mandatory reporting of Greenhouse Gas Emissions by April 2012. The Aldersgate Group has long felt that a clear commitment to require reporting is an essential part of creating a low carbon economy in the UK.’

‘This will give certainty to the business community and attract the significant wealth creation and jobs that London's role as the carbon finance capital of the world would deliver. The Group will support the government's implementation of this decision in any way that we can.’