With a legally-binding target to reach net zero by 2050, the UK government is rolling out policies to ensure that businesses and investors do their part.
Understanding and complying with these regulations can be complicated, so we've put together an easy-to-follow guide to help you understand the key sustainability regulations affecting businesses in 2024.
Yes, regulations are mandatory for the businesses they cover. Businesses which fail to comply risk financial and reputational penalties. The scope of these regulations can change as well, so it’s important to keep an eye out for updates and check if your organisation is now affected.
Certain regulations, like SECR and ESOS, specifically target large companies and LLPs based on criteria such as turnover, balance sheet total, and number of employees. Small businesses may be exempt from some regulations but are encouraged to adopt sustainability practices to improve efficiency and reduce environmental impact.
The first step is to understand which regulations apply to your property portfolio, and how they relate to the current state of your assets. When it comes to the incoming MEES regulations, CQuel can help you identify your most vulnerable properties, and implement solutions that ensure compliance and prevent potential asset stranding. Drop a line to chai@cquel.io to find out more.
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