The UK's New Sustainability Disclosure Standards: Why Facility Managers and Property Owners Should Take Note
The UK's New Sustainability Disclosure Standards: Why Facility Managers and Property Owners Should Take Note
The sustainability landscape is evolving rapidly, especially here in the UK. For those of you in facility management or owning property chains, the recent announcement about the UK Sustainability Disclosure Standards (SDS) might be the hot topic of your board meetings. Let's break down why.
A Quick Overview
In a bid to boost transparency and comparability in sustainability reporting, the UK government, taking a leaf from the International Sustainability Standards Board (ISSB), announced the development of the UK SDS. Set to be rolled out by July 2024, this initiative is making waves, especially with the transition from TCFD to IFRS-based standards.
Why It Matters To You
Transparency and Comparability: The UK SDS is all about improving how companies report on sustainability. For large facility managers and property owners, this could mean more rigorous reporting but also clearer guidelines.
International Recognition: The UK is aligning itself with global standards. This means whatever you report will be recognised and understood, not just locally, but internationally.
Smart Solutions for an Energy Efficient Future
For those navigating these impending changes, leveraging technology can be a game-changer.
Smartcool: For property owners, especially those in the grocery and supermarket sector, energy efficiency is paramount. Smartcool's compressor optimisation technology ensures reduced energy consumption, particularly in systems like heat pumps, and chillers. Learn more about our technology here: Save Energy
Panoramic Power: Get a crystal clear view of your energy consumption. With our Panoramic Power solution, you gain real-time insights into your energy use, thanks to wireless sensors that transmit data straight to our cloud-based platform, PowerRadar. Not only can you address inefficiencies promptly and proactively, but you can also anticipate equipment issues before they become major problems. Plus, by validating and reporting on your energy-saving measures effectively, you'll be well-prepared for any sustainability reporting standards that come your way. Learn more about Panoramic Power here: Energy Monitoring
While new standards might seem daunting, integrating solutions like Smartcool and Panoramic Power can streamline the process, making your sustainability reports more credible and achieving the energy efficiency standards that the UK government promotes.
Moving Forward
While these are still early days, preparation is key. The Financial Conduct Authority will oversee these disclosures, so understanding them early can offer a competitive edge. As the UK government collaborates with committees like UK Sustainability Disclosure Policy and Implementation Committee (PIC) and UK Sustainability Disclosure Technical Advisory Committee (TAC), we anticipate more specific guidelines by July 2024.
Bottom Line
This isn't just about ticking a box for compliance. It's about showcasing your commitment to sustainability, aligning with global best practices, and making informed business decisions. And in this journey, consider us your partners. Dive deeper into how Smartcool and Panoramic Power can align with your sustainability goals by reading some more from our blog.
Submetering Electricity: A Key Strategy for Energy Efficiency and Cost Management
How Smartcool Reduced HVAC Costs by 25% For An International Office Space Provider
For more information regarding the UK Sustainability Disclosure Standards visit this link: www.gov.uk/guidance/uk-sustainability-disclosure-standards
Get in touch with us today through our website to talk to us about your goals!
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