Leading experts have taken part in a debate on carbon accounting at a forum hosted by ACCA Beijing and the China Accounting Journal.
With carbon accounting being one of the four main areas of focus of ACCA's Accountancy Futures programme, the forum underlined the responsibility of businesses in managing, measuring and, hopefully, reducing carbon emissions - and how the accountancy profession can develop strategies and solutions to meet these challenges.
Delivering the keynote address at the event on 13 December 2010 was Gao Yonggang, CFO of Datang Telecom Technology and Industry Group. In his speech, entitled 'Carbon: New Factors Influence Enterprise's Financial Management', Gao Yonggang underlined the importance of identifying, measuring and managing how to report and disclose effectively, and suggested how businesses should:
- evaluate the ability of the carbon emission of existing assets
- set clear objective and policy for emission reduction
- implement the plan of low carbon investment, which manifests recessive CSR
- take efforts to manage low carbon resource and carbon transaction.
The second presentation took the form of a case analysis, in which Yue Peng of the China Beijing Environment Exchange discussed how environmental liability means not only responsibility and cost, but also market opportunities and business value in the future.
Sun Yiting, WWF sustainable banking and finance programme manager, concluded the speaker sessions with a focus on what lies ahead for carbon accounting.
Urging enterprises to adopt the model framework of the International Integrated Reporting Committee as a means of reducing carbon cost and becoming responsible investors, he said: 'The premise of implementing carbon accounting is to build a carbon emissions mechanism internationally and set up an accounting standard on carbon emission. Every accountant should think about what they can do in the carbon economy.'
Access further details on ACCA's focus on carbon accounting and the Accountancy Futures research programme on the Accountancy Futures website (click on the Related link in the top-left hand corner of this page).