01 Dec 2010 11:12:04

Carbon reporting benefits 'outweigh costs'

Large British companies increasingly believe the benefits of carbon reporting outweigh the costs, a new report has suggested.

Conducted by PricewaterhouseCoopers and the Carbon Disclosure Project (CDP), the survey found 53 percent of businesses now believe there is a net benefit of carbon reporting, due to the advantages it brings in terms of both their reputation and customer awareness.

Some 72 percent of the 155 large enterprises that participated in the research said they had a corporate climate change strategy in place, which was linked to the measurement and reporting of emissions.

Joanna Lee, chief partnerships officer at the CDP, noted that as well as aiding companies in their carbon reduction efforts, reporting helps in "advancing better risk management and increased awareness of new market opportunities".

The government is set to decide on mandatory carbon reporting early next year, however, almost half of respondents to the survey said pressure from investors was the biggest driver behind their reporting efforts.

Businesses' overall green credentials were also shown to be improving this week, with the Environment Agency's Greener Business report finding that 90 percent of inspected sites were in the two top categories for environmental performance.