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Carbon Accounting Essay

782 words - 4 pages

What is carbon accounting?
Carbon accounting is measuring, monitoring, benchmarking and reporting an organizations green house gas emission in a given accounting period. Carbon Accounting is not is a greener form of financial accounting.

How do you perform Carbon Accounting?
First the type and amount of emissions for which the business is responsible is identified and calculated for tCO²-e (tonnes of CO² or equivalent) using internationally recognised methods. The result is a detailed account or inventory of a Businesses Emissions for a defined period in time. This inventory is then used in reporting emissions internally and recommending possible solutions for reduction of the business ...view middle of the document...

Carbon accounting: refers to the act of measuring and reporting on an organization’s greenhouse gas emissions. Using this, a company can track their carbon emissions from their supply chain and production activities. This practice is regarded an an important step in cutting down carbon emission.

Measurement:

Carbon accounting is the process by which organisations account for and report on their greenhouse gas emissions.

As an internal metric, carbon allows companies to assess carbon efficiency and exposure to climate change risks (including regulatory risk). Measurement is also the first step in the process of implementing a broader strategy to address carbon-related opportunities, risks and costs.

Organisations can calculate carbon emissions themselves e.g. using software and templates, but outside support is generally needed to do this robustly, efficiently, with meaningful data, and to provide stakeholders with confidence that the figures are accurate. For large organisations volume of data can be significant. Therefore it is necessary to implement IT systems which allow for an efficient and cost-effective solution.

External reporting

Carbon emission figures and disclosures inform investor and analyst assessment of a company’s exposure to climate change and energy related risks. They also help indicate to other stakeholders such as customers, consumers and NGOs, the scale of a company’s impact on the environment and its seriousness in addressing this.

Previously, considering climate change issues was the preserve of a few groups of concerned investors but it has now grown into a market...

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