Assurance of emissions

Alongside the increasing reporting of emissions by companies is a growing tendency to obtain independent assurance, either for regulatory purposes or voluntarily. The assurance can be public and designed to underline credibility to external audiences, or private and intended to give confidence to management and board that they are doing the right thing.

The issues

Unlike financial accounting, where companies have long-established processes and controls, the collection of emissions data and the production of reports is new and experience is short, so normal checks and balances may not be in place.

• Is the information reliable? Does the reporting present a fair picture? How can management be sure they are getting it right?
• Will the data reported to the Environment Agency under the CRC Energy Efficiency Scheme stand up to scrutiny when they audit it? (Erroneous data could lead to significant penalties or reputation damage.)
• Does the public believe the data the company publishes on emissions and the reductions claimed or do they think it is "greenwash"?
• Is the company's carbon trading under control?

How we can support you

PwC can carry out a variety of assurance assignments ranging from internal readiness assessments and feedback on processes, controls and data, to public external assurance. The scope of the work can be sized to your needs and the level of assurance designed accordingly.

PwC can also provide assurance for regulatory purposes, such as EU ETS or RTFO purposes, and can independently assess for management the reliability of the data they are collecting for CRC EES.

The benefits of assurance include:

• Greater credibility both internally and externally.
• Feedback on efficiency and effectiveness of controls and processes and risks and exposures.
• Guidance on quality of internal and external reporting.
• Confidence in actions taken to reduce emissions.