Oral Answers to Questions

Sheila Gilmore Excerpts

Thursday 24th November 2011 Commons Chamber

[Mr Speaker]

Much has now been explained. We are very grateful to the Minister.

[Sheila Gilmore (Edinburgh East) (Lab)]

3. What recent discussions she has had with ministerial colleagues on the introduction of mandatory reporting of carbon emissions by businesses.

[The Secretary of State for Environment, Food and Rural Affairs (Mrs Caroline Spelman)]

I have had recent discussions with ministerial colleagues on the issue and I know that there is a lot of interest in it. There is an appetite in Government for it but, as the House will be aware, any policy has to undergo an impact assessment, which we are in the process of clearing.

[Sheila Gilmore]

There are only four months until the Government are obliged either to introduce carbon reporting or to explain why they have not. When the Members who previously sat on the Opposition Front Bench supported the proposal, they said that it would help economic growth. Why, in the present economic crisis, is it not being pursued more vigorously?

[Mrs Spelman]

Two things have emerged. We had more than 2,000 replies to the consultation, which showed that carbon is reported in very different ways. One challenge is to find a way in which it can be reported meaningfully so that investors know which company to invest in, because they understand the information they receive. Secondly, the Department for Business, Innovation and Skills is consulting on the content of company accounts—narrative reporting, as it is known. We need to synchronise the issue because carbon reporting would be in a set of company accounts. I perfectly understand the requirements of the Climate Change Act 2008 in that regard.