Carbonetworks has today become the latest software firm to launch a new application designed to help UK firms comply with upcoming legislation requiring them to report annually on their carbon emissions and energy use.
The company, which specialises in reporting software for tracking and managing firms' environmental performance, said that the new application would extend its existing software suite to support the government's Carbon Reduction Commitment (CRC), which comes into effect next year and will require more than 5,000 companies to publish yearly carbon data.
The firms that deliver the deepest cuts in their carbon emissions will then receive financial bonuses through the scheme, while the worst performers will be forced to pay penalties.
Michael Meehan, president and chief executive of Carbonetworks, said that the new application would help to automate the reporting processes required to comply with the CRC, "allowing businesses to take advantage of the incentives instead of trying to dodge the penalties at the last minute".
The company said that unlike many of the Excel spreadsheet-based technologies that many firms currently use to report on their carbon emissions, its platform provides auditing controls that helps firms ensure their carbon reports are accurate.
Speaking to BusinessGreen.com, Stephen Mooney, vice president of corporate development at the company, said that many businesses remained ill-equipped to comply with the CRC. "More than 5,000 businesses will be impacted by this legislation, and all the surveys suggest they are not very well-prepared," he said. "They tend to think their energy managers have this data available on spreadsheets, but when it comes to robust, auditable data, they often do not have what is required."
The new application also features planning and modelling capabilities, which the company says will allow executives to assess the impact of different investment decisions on their operation's carbon footprint.
The announcement comes just days after the Environment Agency revealed it is to launch a dedicated enforcement team of about 50 auditors and inspectors to police the CRC legislation.
It also follows a similar announcement from outsourcing specialist ADEC Solutions, which last month launched a new service designed to allow firms to outsource their CRC reporting requirements to a third party.
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