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Aldersgate Group, an influential coalition of businesses, environmental groups and individuals, has written an open letter to Lord Mandelson calling for greenhouse reporting to be made mandatory for all large UK organisations.

The letter to the Business Secretary, which has also been signed by more than 50 MPs, including Conservative Shadow Climate Minister Greg Barker, says that mandatory reporting 'would ensure greater accountability and transparency'.

It added: 'This will help companies identify cost savings through greater resource efficiency and more effectively address material climate risks and opportunities.'

The signatories, which include organisations ranging from Royal & Sun Alliance, Barratt Homes, National Grid and Aviva Investors, believe that transparency would allow 'investors and consumers to make meaningful comparisons, thus driving further emission reductions'.

It adds that the administrative cost of mandatory reporting 'would be minimal for those who report anyway and help those who don't to identify significant cost savings'.

The letter commends the government for publishing guidance on the measurement and reporting of greenhouse gas, but points out that only half of all FTSE 350 companies disclosed their carbon emissions last year.

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