CARBON PRICED INTO THE ECONOMY
The architecture for including a price on carbon through a tax and an emissions trading mechanism is now squarely on the Governments agenda. Understanding and preparing for the potential impact on your business is now an imperative.
CARBON MANAGERS – OUR PROCESS
Carbon Managers is made up of a team of experts who assist your corporation define its risk and find the opportunities emerging from the transition to a carbon constrained economy. We do this by focus on the 6 R’s:
1. Record – Carbon Footprint
Emissions from all identified sources of energy either purchased and generated by your organization is collected and converted to CO2-e (Carbon dioxide equivalent).
2. Report – Carbon Accounting
There are currently a number of reporting protocol. Which is most suitable for your circumstance is a business decision. Carbon Managers can guide and assist you implement the right reporting process for your business.
- NGERs – National Greenhouse Energy Reporting Act requires corporations with emissions over certain thresholds (view page) to report the data into OSCAR, the Government measurement system. Does your organization fall over the threshold?
- EEO – Energy Efficiency Opportunities program was introduced in 2006 and is mandatory for corporations using more than 0.5 petajules of energy per annum to report to Government which makes the report public. The first cycle included 199 corporations accounting for 31% of energy use. In 2011 a second cycle begins.
- GRI (Global Reporting Initiative) is the protocol which is most widely used in the international corporate sustainability reporting framework. Its core goals include the mainstreaming of disclosure on environmental, social and governance performance.
- NABERS – Owners of commercial buildings are now being required to disclose an energy efficiency rating report compliant with the National Australian Built Environment Rating System (NABERS) when selling, leasing or sub-leasing office space with a net lettable area of 2000 square metres or more.
3. Reduce – Energy Abatement and Efficiency Programs
There is a growing number of best practice case studies in various industry sectors which have been shown to reduce both energy consumption and costs. Carbon Managers will assist your business set realistic emissions reduction targets and formulate strategies to achieve these through an assessment of the marginal costs of abatement and return on investment.
4. Rebates – Subsidies Funding, Tax Breaks and Offsets
- Energy Reviews – Carbon Managers can assist your company access the Energy Saver program offered by the NSW Government and other state based programs which provide subsidies for audits for qualifying businesses or buildings.
- From mid 2011, the Tax Breaks for Green Buildings scheme will offer businesses that invest in eligible assets or capital works to improve the energy efficiency of their existing buildings, one-off bonus tax deductions of 50 percent of the cost of these improvements.
- Carbon offsets are available now on the voluntary trading market for certain sources such as solar renewable energy certificates.
5. Research and Development Funds
There are a number of national and state funding sources for climate change adaptation and green technology development available. Private funds specializing in this area are increasingly examining opportunities for early entry.
6. Revenue Protection and Opportunities
Securing the best energy contract on the Energy Market is increasingly important as the price of energy on the futures market is indicating costs of supply will increase substantially in the medium term. Robust and transparent credentials in carbon management provide marketing opportunities. Equity partners and Financial advisory services are increasingly including sustainable practices as a criterion in their financial profiling of companies.