carbon accounting softwareWhile other industries are sputtering along or even tanking, as a result of the global recession, the emerging Enterprise Carbon Accounting (ECA) software market is experience a phase of phenomenal growth. The number as providers has almost doubled, venture capital money is flowing freely and Groom Energy predicts that ECA software purchases will increase 600 percent by 2011
In recent years there has been a ‘boom’ in the availability of online carbon emission calculation tools. It seems as though every company with the slightest interest in the area is offering assistance on both commercial and personal levels. This do-it-yourself approach offers pros and cons, opportunities and problems. Are these tools reliable? Do they do what they say they do or are they simply a way to appear green whilst actually doing very little? This article seeks to explain the issues surrounding this type of emissions calculation and answer these important questions.
A recent survey found that the majority of corporate sustainability leaders believe that their sustainability initiatives have significant strategic value for their organizations, but also feel that measurement for these initiatives are lacking, which makes communicating the outcomes of their efforts more challenging.
The financial risk of carbon liabilities, a need for better management control over carbon data, and new government regulations in a number of countries, will will compel CFOs to invest in carbon management software in the coming year. This is the main conclusion of the report, The Business Case For Carbon Management Software, from the research firm Verdantix. The report analyzes the business case for investing in carbon software from vendors like CarbonView, Carbon Hub, ESS, Greenstone Carbon Management, Hara, IHS, PE International, SAP and SAS.
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Last week after finding out that The International Federation of Accountants had developed a a Sustainability Framework for Professional Accountants. I wanted to find out what other resources they had for green accountants. I found out that they published two reports that you can download for free. See what they have…
The Professional Accountants in Business (PAIB) Committee of the International Federation of Accountants (IFAC) has developed a comprehensive Sustainability Framework to support professional accountants and their organizations in integrating a sustainable way of thinking and working in all business processes. The Framework illustrates how a commitment to sustainability can help to further improve an organization’s products or services, motivate its people, lower its costs and enhance its reputation.
The Institute of Management Accountants Foundation for Applied Research is currently seeking research proposals in Corporate Social Responsibility (CSR). The Foundation for Applied Research is interested in supporting research in the area of management accounting’s involvement with sustainability reporting. Sustainability reporting (triple-bottom line, corporate social responsibility) is reporting by any organization (profit and nonprofit) of economic, environmental, and social performance indicators.
Over at JustMeans, Dave Stanis, of the Campbell Soup Company, speculated that based on current trends, carbon accounting will be a growing, in demand, career specialty. He recommends taking classes in carbon accounting. I think he is on to something because Groom Energy has declared 2009 the Year of Enterprise Carbon Accounting and a recent Greenhouse Gas Management Institute study revealed that the industry is suffering from a profound skills shortage. For those of you who have never heard of carbon accounting, it is the accounting undertaken to measure the amount of carbon dioxide equivalents that will not be released into the atmosphere as a result of Flexible Mechanisms projects under the Kyoto Treaty.
