Trucost worked with Defra (the Department for Environment Food and Rural Affairs) to produce the latest guidance on environmental reporting: Environmental KPIs - Reporting Guidelines for UK Business. These Guidelines are designed to help businesses address their most significant environmental impacts and report on them in a way that meets the needs of current regulation, such as the Business Review and forthcoming requirements under the Companies Act.

Elliot Morley, Environment Minister, says: “These Guidelines seek to set a standard which will give business some assurance that it has reported its environmental performance to an appropriate minimum level of accuracy and detail.”

The purpose of the Guidelines is threefold:

To give clear guidance to companies on how to report on their environmental performance using environmental KPIs

Trucost helps companies identify their appropriate environmental KPIs using these Guidelines and its assessment of a company’s environmental impacts in terms of external damage costs. It has worked with many leading companies including Avis, Burren Energy, Bloomsbury Publishing, Conoco Phillips, DHL, Legal & General, LogicaCMG and Prudential. Trucost’s framework allows environmental impacts to be compared to financial performance indicators – a unique, quantitative approach.