CARBON REPORTING

That this House recognises that climate change is one of the most critical issues that businesses face today; believes that a common reporting standard on carbon emissions would allow meaningful and consistent comparison by investors and consumers; notes the Aldersgate Group's Carbon Costs report which stated that, despite improvements in the number of companies disclosing information on greenhouse gases, current reporting levels are still too low and what is disclosed is not comparable because of the use of different calculation methods; believes that the lack of transparency obscures the true contribution of corporate UK and undermines the comparative advantage that should accrue to companies with good carbon reporting and control; and urges the Government to introduce enabling powers in the Climate Change Bill for mandatory carbon reporting standards for all companies listed on the UK stock markets which will allow consumers and investors to make low carbon choices and comparisons.