Companies Will Have to Pay for Carbon Footprints

Sarah Woodman, Global events journalist
August 18, 2010 /

Most finance heads of UK’S largest companies expect that businesses should have to measure their carbon footprints and pay a price on the carbon they emit.

A research conducted by the Carbon Trust Standard Company has shown that 40% of the finance heads surveyed believe that this is going to happen within the next decade.

The research has also shown that 16% of the respondents to its survey think that this is going to happen in the next 5 years.

The Carbon Trust Standard Company is a firm that involves itself in finding out what kind of carbon companies are emitting and what its effect will be on the environment. It was also one of the firms which lobbied with the government about having a separate law for businesses regarding the amount of carbon each of them emitted.

Carbon Trust Standard Company also supports several other environmental causes.

The research found that though expectations were high that more legislation is due related to the use of energy and carbon emission, few businesses have an idea of what steps they are going to take once legislation becomes law.

48% of those surveyed said that their companies did not have a clear corporate target for carbon reduction. A further of 16% respondents said that they did not know whether or not their companies had any target.

In addition to this lack of information, three quarters of the finance decision makers of companies admitted that their businesses currently had no system in place to measure their carbon footprints.

Harry Morrison, who is the General Manager of the CTSC, said that the debate over whether businesses will have to pay for their carbon footprint seemed to be over. He added that only a few have taken actual steps to do anything about it.

 

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