PwC Research: Lesser Carbon Emission Cuts Cost and Optimizes Energy
Procedures in measuring and reporting carbon emission from industries have fostered boardroom pressures that prompt corporate leaders to spend time and effort to discuss the matter, PricewaterhouseCoopers said.
In the latest research carried out by PwC, climate change, carbon emission reduction, acquiring benefits from brand creation and energy optimization and operational savings are among the foremost concerns of most companies these days. PwC found out the benefits brought about by carbon emission reduction as companies that measure and report their greenhouse gas emissions have discovered how the process reduces costs and optimizes energy.
PwC surveyed companies with carbon emission measurement and reporting programs, and 72 percent said they are now adopting strategies applicable in corporate climate change aimed at reducing carbon emission.
PwC also found further signs of changes in the industry, saying they reinforced its findings of the shift in the corporate landscape. These findings indicated that 65 percent of the companies surveyed are shelling out amounts up to £50,000 for their carbon emission measurement and reporting. This might also be declared mandatory among all companies soon as the government considers regulations to implement the process.
The research also showed that about 14 percent of companies said their savings from reducing carbon emission have amounted to £200,000, indicating opportunities offered by looking further at the process. PwC noted that pressures in measuring and reporting carbon emission have been greatly driven by demands from investors.
Alan McGill, partner at PwC, responded to reports that the government is mulling over making carbon emission measurement and reporting mandatory by 2011. McGill said the plan could “more accurately reflect the entire scope of a company’s risk profile and attitude and encourage much more widespread use of environmental information in investment decisions.”