Duty to report
Organisations with more than 500 employees and a turnover over £500 million are now required to report climate‐related financial information on an annual basis. The Department for Business, Energy & Industrial Strategy (BEIS) has published guidance to help organisations understand how to meet the new requirement.
This is likely to impact many companies in the finishes and interiors sector supply chain. Whilst most won’t be reporting, they will likely be under greater pressure to supply information and data to their larger clients.
Plastic Packaging Tax
The UK Government has introduced the Plastic Packaging Tax. This Tax came into force on 1st April 2022 and will be charged at a rate of £200 per tonne. The tax applies to ’packaging that contains more plastic by weight than any other single material’. However, packaging that contains at least 30% recycled plastic is exempt. For more details see the paper written by CPA here.
Need help complying, you can talk to the FIS Sustainability Champion on 0121 707 0077