Enabling Carbon Management - Moving Beyond Carbon Measurement and Reporting

Creating a carbon footprint report has become a commonplace activity for most businesses. It is increasingly expected that they will participate in voluntary carbon reporting initiatives, of which there are an ever growing number, including the likes of the Carbon Disclosure Project (CDP), and Global Reporting Initiative (GRI), as well as any compliance reporting obligations, such as the CRC Energy Efficiency Scheme (CRC). On top of this the carbon footprint is often included in the annual CSR or shareholder report, and many companies are finding they are also required to report their footprint when tendering for new business. Gyles Scott-Hayward, an analyst at Greenstone Carbon Management looks at how businesses will move beyond carbon measurement and reporting.

Most companies are familiar with, or becoming familiar with, the process of calculating their carbon footprint. This process has traditionally involved a lengthy task of gathering all the data and then creating a spreadsheet based model to calculate the resulting carbon emissions. However such ‘static’ solutions cannot provide the flexibility and intelligence required to address the challenges surrounding carbon measurement, and the need for dynamic reporting and forecasting to establish
reduction strategies. With increasingly complicated reporting methodologies coming into effect and carbon legislation for businesses looming, more sophisticated, and accurate methods of calculating a carbon footprint have come to the fore. Carbon accounting software has led to businesses engaging in their emissions in real time and in far greater depth. This has led to a greater appreciation and awareness among business leaders of the costs and perhaps more importantly the opportunities of successful carbon management. Businesses that are prepared to look beyond the reporting requirement and develop a carbon management programme can reap a range of benefits.