In Brief: Carbon Confusion

THE key executives responsible for monitoring and reporting company carbon emissions appear to have a limited understanding of what is needed, despite new laws coming into force with six weeks. The lack of understanding was revealed in a study by Melbourne-based environmental consultants, Carbon Planet, which found more than 76 per cent of chief financial officers rate their understanding of carbon emissions reporting as either ‘fair’ or ‘poor’. The National Greenhouse and Reporting Act, which is due commence its first period on July 1, is a national system for reporting greenhouse gas emissions, abatement actions, and energy consumption and production levels of corporations. The survey, ‘The Carbon Crunchtime’, also reveals that while 56 per cent of CFOs agreed that good carbon management would improve business efficiency and reduce operational costs, nearly half of those asked lacked confidence in allocating a sufficient budget to effectively reduce carbon emissions across their organisation over the next five years.

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