The report argues that official greenhouse gas figures hugely underestimate Britain's contribution to climate change. It shows that adding in emissions from UK-funded operations in other countries – i.e. all emissions associated with FTSE-100 companies - raises the UK's share of the global total from 2% to about 15%. The report finds that the majority of the largest companies listed in the FTSE are reluctant to respond to voluntary carbon disclosure – and of those that do, only ten per cent declare to an acceptable standard.The report agues that the first step in taking account of the global carbon footprint of the UK is a common, mandatory reporting standard. In addition to that cutting off the supply of money to big coal and oil projects and encouraging the mainstream markets to move towards renewable energy and other low-carbon technologies is critical.Recommendations of the report include: Companies – large and small, private and publicly listed – should calculate all scope 1, 2 and 3 CO2 emissions, declare these to an agreed standard, such as the Greenhouse Gas Protocol and commit to reducing emissions by five per cent per year.the UK government should incorporate in the climate change bill mandatory carbon calculation and reporting standards for all companies operating in the UK.
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