CLIMATE CHANGE BILL AND CORPORATE REPORTING

That this House welcomes the Government's decision to accept an amendment to the Climate Change Bill making it mandatory for large companies to report on their greenhouse gas emissions in their annual business review; congratulates the Government on recognising the need to ensure a level playing field amongst businesses on the important issue of climate change; notes that while 70 per cent. of FTSE350 companies responded to the most recent carbon disclosure project survey about their carbon emissions, less than half provided quantitative data that could be compared with other companies; recognises that climate change is a critical issue facing the world with profound implications for both businesses and investors; and urges the Government to set out a timetable for implementing the powers now in the Bill to set a clear standard for business reporting of greenhouse gas emissions.