Changes in Qualifying Thresholds:
The criteria for ESOS Phase 4 will change to align with that of SECR (Streamlined Energy and Carbon Reporting).
This will likely result in more companies being required to comply with ESOS.
If your business meets each of the below criteria, then you will need to participate in ESOS Phase 4:
- 250+ Employees
- A balance sheet of at least £18m
- A turnover of at least £26m
Mandatory Requirements
Some actions which were previously optional will now be mandatory, such as the need to complete a Net Zero Assessment, and for all reporting to meet ISO 50002 or EN 16247 auditing standards.
The deadline for ESOS Phase 3 was already extended due to increased requirements, so with Phase 4 set to be even more demanding, it’s critical that companies make a start as soon as possible.
Missed Targets
Beginning in Phase 4, companies will be required to justify why they have not been able to achieve a recommended energy reduction.
Therefore – rather than being simply a compliance piece – ESOS Phase 4 will require companies to put their plans into action.
The increased number of participants, the expanded requirements, and the need to invest in solutions means that the goods and services you need are likely to be in high demand.
Companies who delay run the risk of incurring additional costs, or missing deadlines altogether.
To get a head start, contact L&C Utility today.
