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Lex Autolease: CO2 reporting embraced by fleets despite fears over validity

Date: 15 October 2013   |   Author:

Reporting on the carbon activities of organisation's car fleets is set to become one of the industry's biggest new issues, according to exclusive research conducted for BusinessCar by Lex Autolease, the UK's top leasing firm.

From 1 October 2013 all UK-quoted firms have been required to report on their greenhouse gas emissions as part of the annual Directors' Report, and although there is no legal obligation for those not listed on the London Stock Exchange, New York Stock Exchange or Nasdaq to follow suit, the Government "encourages all other companies to report similarly, although this remains voluntary".

More than 90% of respondents to the BusinessCar/Lex survey that have responsibility for reporting their organisation's carbon emissions are already including fleet vehicles, while more than half of businesses - 53.8% - not already doing so are intending to include them in the next two years.

Lex Autolease's principle consultant, Chris Chandler, expressed surprise at the high level of those either bringing in carbon reporting in the next two years, or considering it, although there are concerns about how the calculations will work in real terms.

"One thing that does concern me is how CO2 reporting will be covered off," he told BusinessCar. "There is no real legislation about how to calculate, and there are a number of methodologies to do it that vary in accuracies."

The Government guidance dictates there is no requirement for the CO2 data to be independently verified, although the auditor will be required to consider the consistency and accuracy.

While all company-owned or leased vehicles are included, the reach of the Companies Act 2006 (Strategic Reports and Directors' Reports) Regulations 2013 legislation doesn't automatically go as far as grey fleet or business travel other than in company cars, or commuting.

"The disappointing thing is that it includes vehicles that are leased or owned but not grey fleet vehicles,"

said Chandler. "It could be deemed a misrepresentation. There could be an awful lot of mileage in grey fleet and it's not captured."

The research also looked at CO2 emission caps and whether they have moved, comparing the results with a similar study BusinessCar undertook with Lex Autolease two years ago.



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