Carbon Accounting Research Qingliang Tang
|
|
- Marian Greene
- 6 years ago
- Views:
Transcription
1 Carbon Accounting Research Qingliang Tang Scientific Evidence of global warming Damage of global warming Kyoto Protocol Cost of carbon emission control Clean energy: e.g. Solar power generator, wind power, etc. Emission Trading Scheme The role of Carbon accounting
2 This is summary of review of carbon accounting research in the recent literature. The topics of the carbon accounting research include: Carbon disclosure, Carbon performance, Carbon tax, Corporate governance and carbon activity, Cultural factors and carbon transparency propensity, Carbon management systems, Carbon assurance and carbon auditing The results of the review suggest carbon accounting research is an extension of environmental or sustainability study. But carbon accounting is a unique dimension, so should be separately studied, rather than combined in a basket in sustainability research.
3 Luo, Qingliang Tang and Y Lan Corporate Incentives to Disclose Carbon Information: Evidence from the CDP Global 500 Report Journal of International Financial Management & Accounting 2012 Why companies voluntarily disclose Co2 information? Large companies play a key role in carbon activity. Significant: 1 Emissions (economic pressure), 2 (GHG) intensive sectors (institutional pressure), 3 firm size (social pressure) Not significant: Information needs of investors The major driving force: general public and government
4 Luo and Qingliang Tang. Does Voluntary Carbon Disclosure Reflect Underlying Carbon Performance? JOURNAL OF CONTEMPORARY ACCOUNTING AND ECONOMICS, 10 (2014) Whether voluntary carbon disclosure reflects firms carbon performance (or just greening washing)? Is sustainability accounting really for sustainability? (U.S., U.K., and Australian firms) Co2 disclosure: content analysis of carbon reports; Co2 performance: Co2 emissions and mitigation Result: a positive association between Co2 disclosure and performance, consistent with signalling theory
5 Liao, Luo, Qingliang Tang Gender Diversity, Board Independence, Environmental Committee and Greenhouse Gas Disclosure British Accounting Review 2014 Corporate board s characteristics and Co2 voluntary disclosure 329 largest companies in the UK We find a significant positive association between gender diversity and GHG disclosure. A board with more independent directors or environmental committee show a higher tendency.
6 Theoretical contribution: The results are consistent with stakeholder theory A diversified and independent board and the existence of an environmental committee may balance a firm s financial and non-financial goals Such as board may moderate the possible conflicting expectations of stakeholders who have disparate interests.
7 Luo, Qingliang Tang, Lan Comparison of propensity for carbon disclosure between developing and developed countries: A resource constraint perspective Accounting Research Journal, 2013, Best paper of the year This paper investigates differences in voluntary carbon disclosure between developing and developed countries A sample consisting of 2,045 large firms from 15 countries Profitability, leverage and growth were used as proxies for the degree of resource availability Results show that the carbon disclosure propensity is correlated in the right direction with resource availability proxies
8 This relationship is stronger in developing nations, suggesting that the shortage of resources is one reason for the lack of commitment to carbon mitigation and disclosure in these countries. So resource restriction provides a complementary explanation largely ignored in the existing literature for variation in the carbon-disclosure propensity of firms.
9 Luo and Qingliang Tang Does National Culture Influence Corporate Carbon Disclosure Propensity? Journal of International Accounting Research Forthcoming 2015 National culture impacts managerial attitudes and philosophies about environmental protection, and thus affects their actions about emissions control and disclosure. A sample of 1,762 firms from 33 countries We found that cultural dimensions of masculinity (negative), power distance (negative) and uncertainty avoidance (positive) are related to carbon disclosure propensity
10 This is regardless of whether Hofstede or Global Leadership and Organizational Behaviour Effectiveness (GLOBE) culture measures are used. Our results also show individualism and long-term orientation has significant impact under Hofstede measure though not under GLOBE measure. In addition, our evidence implies that national culture may moderate the effect of carbon control mechanisms, such as emissions trading schemes.
11 Finally, the empirical evidence indicates the impact of culture is not sensitive to national wealth and industry membership. Theoretical contribution The findings suggest culture exerts incremental influences beyond economic and regulatory incentives. The result is useful in negotiation for an international climate agreement that is more acceptable to societies with disparate cultural backgrounds.
12 Luo and Qingliang Tang. Carbon Tax, Corporate Carbon Profile and Financial Return. Pacific Accounting Review 2014, Volume 26, Issue 3 The impact of the proposed carbon tax (big event in history) on the financial market return of Australian firms We utilise the event-study method. Sample includes 336 firm-event observations. The proposed tax has negative impact on abnormal returns, particularly for the materials, industrial and financial sectors. Scope 1 emission is significantly associated with abnormal returns, but not Scope 2.
13 He, Qingliang Tang, Wang. Carbon disclosure, carbon performance, and cost of capital, China Journal of Accounting Studies, 2013 Data: S&P 500 firms (CDP) in The cost of capital is negatively associated with carbon disclosure. This relationship is weaker for firms with good carbon performance. The results contrast with Matsumura et al (2014) that find that, for every additional thousand metric tons of Co2, firm value decreases by $212,000 for US firm in Matsumura, Ella Mae and Rachna Prakash, and Sandra C. Vera-Munoz. Firm- Value Effects of Carbon Emissions and Carbon Disclosures. The Accounting Review Vol. 89, No. 2 March 2014 pp
14 Qingliang Tang and Luo Carbon management systems and carbon mitigation Australian Accounting Review, Volume 24, Issue 1, pages 84 98, March 2014 Figure 2: The Carbon Management System Carbon Governance Perspective Elements Purposes Proxy variables Board function To develop overall climate-change strategy and policy Risk and opportunity assessment To identify and assess carbon risk and opportunity Staff involvement To motivate staff and enhance awareness of climate-change issues ClimateCommittee RiskAssess INCENTIVE Carbon Operation Perspective Elements Purposes Proxy variables 4 5 Emission target Policy implementation To set up a mitigation target that is consistent with carbon strategy To enforce carbon policy by prioritising reduction actions and allocating resources to achieve targets TARGET CarbonProgram 6 Supply-chain emission control To reduce supply-chain emissions CustomerGHGAvoid Emission Tracking and Reporting Perspective Elements Purposes Proxy variables 7 8 Carbon accounting Carbon assurance To keep track of carbon inventory and emission footprint To increase the reliability of carbon data and information GHGAccounting GHGAudit Engagement and Disclosure Perspective Elements Purposes Proxy variables 9 10 Engagement with stakeholders Disclosure and communication To strengthen the link with stakeholders To increase the transparency of mitigation activities and outcomes PolicyEngage DISCLOSE
15 Qingliang Tang Institutional influence and the demand for carbon auditing: Chinese experience (working paper) Table 1: Categories of Carbon Auditing GHG statement assurance Compliance carbon audit Carbon management audit Governmental climate change audit Scope Firm level Firm and project level Firm and project level National or international level Purpose Determine whether Determine whether Determine whether Determine whether the statement is a carbon emissions carbon governmental fair and true and activities are management and climate change presentation of consistent with control measures policy is appropriate GHG emissions legislation and are economical, regulations effective, and efficient Nature Verification Investigation Evaluation Evaluation Users of audit External users External users, Internal managers Public, governmental report internal managers officials
16 Why is a significant increase in demand for carbon auditing ( )? A change in economic development model, and the institution of business An explosion of carbon and energy laws and regulations prior to the audit An increasing governmental greening investment Institutional changes make carbon auditing from rhetoric to practice
17 Increase in carbon auditing (2009 to 2013) 6000 Number of Carbon audits in China Formatted: Font: 20 pt, Bold Facilities audited Year Year2009/10 Year2011 Year2012 Year2013
18 Development and Structure of Low Carbon Institution in China Environmental Protection Law 1989, 2015, Law of Environmental Impact Assessment 2002 Energy laws Low carbon production and Economy Laws Electricity Law 1996 Coal Law 1996 Renewable Energy Law 2006 Clean production Law 2002 Recycle economy law 2008 Energy conservation Law 2007 Carbon market Carbon market and Finance regulations Carbon finance Carbon trading market trial regulation (State Council 2011,DRC, 2011). Time table for national carbon market,drc, Climate Change Dept 2015 Pollution & Co2 control by third party, DRC, 2014; State Council 2010 CDM foundation, State Council, 2010 Bank s financing support for low carbon projects, (CPB et al 2010); Enterprise Environmental credential assessment system, (Environment Ministry et al 2013)
19 Theoretical Movements of carbon related index Emission Law Invest Public Co2 audit 1 0 year 1 year 2 year 3 year 4 year 5 year 6 year 7 year 8 year 9 year 10 year 11 year 12
20 Actual movements of index Year Year Year Year Year Year Year Year Year Co2 (billion Ton) Co2 laws Co2 invest Public interst (Google) No of Co2 audits (thousand)
21 Actual movements Co2 laws (02-09) and audits(10-14) Co2 laws 8 Co2 invest 6 No of Co2 audits (500) 4 2 0
22 Actual movements of index: public interest and audits Co2 invest Public interst (Google) No of Co2 audits (500)
23 Year 1998 Year 1999 Year 2000 Year 2001 Year 2002 Year 2003 Year 2004 Year 2005 Year 2006 Year 2007 Year 2008 Year 2009 Year 2010 Year 2011 Year 2012 Year 2013 Year Co2 invest No of Co2 audits (thousand)
24 Pacific Accounting Review, 2014, Volume 26, Issue 3 Carbon Tax, Corporate Carbon Profile and Financial Return Abstract Le Luo, University of Newcastle Qingliang Tang, University of Western Sydney Purpose: This study investigates the impact of the proposed carbon tax on the financial market return of Australian firms. We also consider the differential tax effect on individual firms with different carbon profiles, including factors such as emissions costs, carbon disclosure and climatechange policies. Design/methodology/approach: Utilising the event-study method, we examine the market reaction to seven key carbon legislative information events that occurred from February 2011 to November Our sample includes 48 different firms whose emissions-related data are available from Carbon Disclosure Project reports; thus, 336 firm-event observations are employed for our crosssectional analysis. Findings: The paper documents evidence that the proposed tax has an overall negative impact on shareholder wealth as measured by abnormal returns. The negative impact varies across sectors, with the most significant effect found in the materials, industrial and financial sectors. We also found that a firm s direct carbon exposure (as measured by Scope 1 emissions) is significantly associated with abnormal returns, whereas the indirect exposure (as measured by Scope 2 emissions) is not, because Scope 2 emissions are not covered by the tax. In addition, our findings suggest that the information content of the events is more notable during the early stages of the development of the carbon tax. Research limitations/implications: Our sample is restricted to the largest firms with relevant carbon profile information. Thus, caution should be exercised when generalising our inferences. Practical implications: The introduction of the carbon tax was largely unexpected and most firms were unprepared for it; thus, their carbon policy appears inadequate and does not impress investors. An understanding of how the carbon tax affects shareholder value and welfare will encourage management to take proactive actions to mitigate the compliance costs of carbon legislation. Originality/Value: The enactment of the Australian carbon tax perhaps represents one of the biggest social and economic restructuring events in the country s history. Our results offer initial insight into its impact and suggest that investors would penalise firms with heavy direct operational emissions. In addition, Australian corporate carbon policy seems inadequate, so does not reverse the negative effect of the tax on the value of a firm. Keywords: carbon tax, corporate carbon profile, greenhouse gas (GHG) emissions, Carbon Disclosure Project (CDP), carbon reduction target
25 Events We identify the following seven carbon tax-specific information events that would affect the market participants perceptions about the probability of the eventual passage of the legislation and its impact on earnings. #1 10 February 2011 The establishment of an independent Climate Commission 1 #2 24 February 2011 The initial announcement of the carbon tax plan #3 23 May 2011 The release of the Climate Commission report, The Critical Decade: Climate science, risks and responses 2 #4 10 July 2011 The release of the Australian government s Clean Energy Plan #5 23 August 2011 A Labour Senator is involved in a credit-card scandal #6 12 October 2011 Carbon bills are passed in the Parliament House with a vote of 74 to 72 #7 8 November 2011 The Clean Energy Bill and 17 complementary bills pass in the Senate. Note that in event #4, the Australian government released details of the costs, scope impact and operational features of the carbon tax. This was a big shock to the financial market because Prime Minister Julia Gillard had declared that there will be no carbon tax under a Government I lead prior to the 2010 election. In event #5 a Labour Senator, the Chair of the House of Representatives Standing Committee on Economics, resigned. The consequence was the Labour Party would lose a position in the Parliament and the carbon tax would not be passed. All of these events, with the exception of event #5, were expected to increase the probability that the tax would be enacted. 1 (accessed on 1 March 2012). 2 (accessed on 1 March 2012).
26 Our test model is as follows: where (1) = return for the portfolio of firms for day t = dummy variable that equals 1 for each event window (3-day window) and 0 otherwise. = return on an equal-weighted New Zealand 50 market index for day t = return on an equal-weighted Tokyo market index for day t = return on an equal-weighted Standard & Poor s (S&P) 500 index for day t = return on an equal-weighted FTSE 100 index for day t = return on an equal-weighted Chinese A share market index for day t = return on an equal-weighted S&P 500 index for day t-1 = return on an equal-weighted FTSE 100 index for day t-1 k = the k th event, k = 1,, 7
27 Event Number. AAR of the whole sample AAR of the highest Scope 1 emitters
1 understand the framework of corporate carbon management system. the definition of carbon accounting
Carbon Accounting and Corporate Carbon Management Systems: a Holistic Approach Dr. Qingliang Tang School of Business, University of Western Sydney (q.tang@uws.edu.au) Learning objectives 1 understand the
More informationCarbon emission disclosure: does it matter
IOP Conference Series: Earth and Environmental Science PAPER OPEN ACCESS Carbon emission disclosure: does it matter To cite this article: Y A Sudibyo 2018 IOP Conf. Ser.: Earth Environ. Sci. 106 012036
More informationPragmatic Policy Options for Copenhagen and Beyond
Pragmatic Policy Options for Copenhagen and Beyond Elliot Diringer Pew Center on Global Climate Change at GTSP Technical Review Joint Global Change Research Institute May 28, 2009 Overview The Negotiating
More informationIssues concerning revision of Japan s Corporate Governance Code
Provisional translation Issues concerning revision of Japan s Corporate Governance Code Material 2 in accordance with establishment of the Guidelines for Investor and Company Engagement Guidelines for
More informationResearch question & Contribution
4/10/14 Value Relevance of Greenhouse Gas (GHG) Emissions Disclosures on Stock Market Performance: An International Study Li Ming KHOO Maria BALATBAT Leon WONG Research question & Contribution Investigates
More informationCountry overview: Japan. 1. Policies Currently Implemented
Country overview: Japan 1. Policies Currently Implemented Pilot Projects of Voluntary Emissions Trading Japan Voluntary Emissions Trading Scheme (JVETS) Since 2005, the Ministry of the Environment has
More informationCarbon Disclosure Project (CDP5) Greenhouse Gas Emissions Questionnaire
Carbon Disclosure Project (CDP5) Greenhouse Gas Emissions Questionnaire Nedbank Group response as at 31 May 2007 14:45 General Introduction If you would like to give an introduction to your answers, please
More informationKeidanren's Views on Climate Change Policy
Keidanren's Views on Climate Change Policy IMF-Japan High Level Tax Conference For Asian and Pacific Countries January 31, 2012 Masami Hasegawa Keidanren (Japan Business Federation) 1 1.What is Keidanren?
More informationClimate Change Tracker: Asia
Climate Change Tracker: Introduction Climate change is now widely recognised as one of the most significant challenges facing the global economy. China is one of the largest contributors to greenhouse
More informationEnvironmental Protection Administration, R.O.C. (Taiwan) Report on Greenhouse Gas Reduction Policy Implementation in Taiwan. Vol.
Vol. 1, October 2013 Overview of Taiwan s Greenhouse Gas Reduction Bill (Draft) Overview of Taiwan s GHG Reduction Efforts In order to promote sustainable development in Taiwan and to proactively contribute
More informationGlobal Reporting Initiative Index
Global Reporting Initiative Index At RBC we have adopted a multi-pronged approach to sustainability reporting, and we publish information about our social, environmental and ethical performance in a number
More informationCanada s Climate Action Plan (2002): The Analysis
Canada s Climate Action Plan (2002): The Analysis THE FRAMEWORK This framework was constructed using a number of sources most notably Eberlein and Matten s article Business Response to Climate Change Regulation
More informationPCF IMPLEMENTATION NOTE Number 4 Version of April 21, Background
Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized PCF IMPLEMENTATION NOTE Number 4 Version of April 21, 2000 DOLGDWLRQHULILFDWLRQDQG&HUWLILFDWLRQIRU3&)3URMHFWV
More informationEasing into carbon trading Republic of Korea s Emissions Target Management Scheme
Low Carbon Green Growth Roadmap for Asia and the Pacific CASE STUDY Easing into carbon trading Republic of Korea s Emissions Target Management Scheme Key point The Emissions Target Management Scheme is
More informationIn Confidence. Office of the Minister for Climate Change. Chair, Cabinet Business Committee. The 100 Day Plan for Climate Change.
In Confidence Office of the Minister for Climate Change Chair, Cabinet Business Committee The 100 Day Plan for Climate Change Proposal 1. This paper seeks your agreement: 1.1. for a participatory and transparent
More informationFirstRand climate change and energy report
FirstRand climate change and energy report 2016 2015 01 highlights 7% REDUCTION IN TOTAL CARBON EMISSIONS from South African operations (280 998 metric tonnes of CO 2 equivalents. 2015: 301 980 metric
More informationEnergy Trust of Oregon Strategic Plan
Energy Trust of Oregon 2015-2019 Strategic Plan October 1, 2014 Introduction Who We Are Energy Trust of Oregon is an independent nonprofit organization dedicated to helping 1.5 million customers of four
More informationMaster of Business Administration Course Descriptions
Master of Business Administration Course Descriptions CORE COURSES MBAB 5P01 Accounting for Decision-Making I The functional basics of accounting for management and business decisions. Data collection,
More informationNational Policy Corporate Governance Principles. Table of Contents
National Policy 58-201 Corporate Governance Principles Table of Contents PART 1 INTRODUCTION AND APPLICATION 1.1 What is corporate governance? 1.2 Purpose of this Policy 1.3 Structure of this Policy 1.4
More informationEstablishing a. Global Carbon Market. A discussion on linking various approaches to create a global market
Establishing a Global Carbon Market A discussion on linking various approaches to create a global market Updated November 2012 First published November 2007 This revised version of the 2007 WBCSD publication
More informationLEARNING OBJECTIVES LEARNING OBJECTIVES. Session 11. Ethics, leadership and culture
Session 11 Ethics, leadership and culture LEARNING OBJECTIVES Define the term corporate culture and understand its relationship to ethical culture. Define the term ethical culture and understand the key
More informationThe Role of Carbon Pricing Policies in Contributing to Stabilization of Agricultural CO 2 Emissions in North America: Emphasis on Agriculture
The Role of Carbon Pricing Policies in Contributing to Stabilization of Agricultural CO 2 Emissions in North America: Emphasis on Agriculture Presented at: AAAS Annual Meeting: Toward Stabilization of
More informationCORPORATE GOVERNANCE STATEMENT
CORPORATE GOVERNANCE STATEMENT In fulfilling its obligations and responsibilities to its various stakeholders, the Board is a strong advocate of corporate governance. This statement outlines the principal
More informationSustainable Future. Sustained Advantage.
Climate change & SUSTAINABILITY SERVICES Sustainable Future. Sustained Advantage. The Time is Now. With increasing intensity, today s enterprises are applying sustainability as a strategic lens to help
More informationBritish Columbia s Carbon Tax Strengths and Opportunities
British Columbia s Carbon Tax Strengths and Opportunities Submission to the Select Standing Committee on Finance and Government Services Oct 24, 2008 Submitted by: Matt Horne B.C. Energy Solutions program,
More informationINTERNAL AUDIT IN CORPORATE GOVERNANCE
INTERNAL AUDIT IN CORPORATE GOVERNANCE PhD. Candidate Felicia Gabriela UNGUREANU Academy of Economic Studies, Bucharest Abstract Internal Audit, compared with verification of transactions and compliance
More informationDECREE DRAFT of 24 April 2012 ORDERS : Article 1
Unofficial translation from French DECREE DRAFT 2012-557 of 24 April 2012 Regarding disclosure obligations for companies in social and environmental fields The Prime Minister ORDERS : Article 1 Articles
More informationGuidelines for Governance of the Electricity Sector in Canada
Guidelines for Governance of the Electricity Sector in Canada Table of Contents 03 Executive Summary 05 Policy Context 06 Part I: Improving the Governance of Regulatory Agencies 07 How Regulatory Governance
More informationCOP22: Strengthening the world s response to climate change
COP22: Strengthening the world s response to climate change Briefing on the outcome of COP22, the 2016 UN Climate Change Conference November 2016, KPMG International The world s governments came together
More informationGREEN PAPER The EU corporate governance framework
Denise Silva Ferreira Juvenal rio1042370@terra.com.br Accountant Commentary individual Rio de Janeiro / Brazil Sir Chairman and Members of European Commission Chair of Discussion Paper GREEN PAPER - The
More informationG8 Education Limited ABN People and Culture Committee Charter
G8 Education Limited ABN 95 123 828 553 People and Culture Committee Charter Table of Contents 1 Introduction... 3 2 Objectives... 4 3 Responsibilities of the Committee... 4 4 Size and Composition of the
More informationANGLIAN WATER SERVICES LIMITED (the Company ) 2014 CORPORATE GOVERNANCE CODE
PART A: THE MAIN PRINCIPLES OF THE CODE A B C Transparency i. Reporting will meet the standards set out in the Disclosure and Transparency Rules insofar as those rules can sensibly be applied to an unlisted
More informationCarbon footprints issues and opportunities
Carbon footprints issues and opportunities FPRF Issues & Opportunities Seminar Dr Stewart McGlashan Senior Consultant Johns Environmental stewart@johnsenv.com.au Johns Environmental 2009 Carbon footprints
More informationPublic consultation on non-binding guidelines on methodology for reporting non-financial information
Case Id: c59cf770-5094-4e8e-a078-04dc7ee1c059 Date: 14/04/2016 12:42:20 Public consultation on non-binding guidelines on methodology for reporting non-financial information Fields marked with are mandatory.
More informationGuidelines for Investor and Company Engagement (Draft)
Provisional translation Appendix 2 Guidelines for Investor and Company Engagement (Draft) Guidelines for Investor and Company Engagement The Guidelines herein provide agenda items for engagement that institutional
More informationCORPORATE GOVERNANCE STATEMENT 2017/18
CORPORATE GOVERNANCE STATEMENT 2017/18 The Board of Quintis ( Board ) is committed to ensuring that the Company s obligations and responsibilities to its various stakeholders are fulfilled through its
More informationCDP6 Greenhouse Gas Emissions Questionnaire - Avery Dennison Corporation
Page 1 of 18 CDP6 Greenhouse Gas Emissions Questionnaire - Avery Dennison Corporation Page 2 of 18 Print Response Respondent: Avery Dennison Corporation General Information It is not a requirement of the
More informationChina Airlines Co., Ltd. Corporate Social Responsibility and Sustainable Development Best Practice Principles. Chapter I General Principles
China Airlines Co., Ltd. Corporate Social Responsibility and Sustainable Development Best Practice Principles Approved by the 6 th meeting of the 20 th term board of directors on May 12, 2016 Approved
More informationKeynote Speech by H.E. Ichiro Kamoshita, Minister of the Environment of Japan, in the Session on Climate Change
Keynote Speech by H.E. Ichiro Kamoshita, Minister of the Environment of Japan, in the Session on Climate Change Introduction Here at the beginning of the session on Climate Change, as the chair of the
More informationWestpac Banking Corporation.
2016-2017 Westpac Banking Corporation. Carbon Neutral Program. Public Disclosure Summary. Declaration. FOR THE WESTPAC GROUP, SUSTAINABILITY IS NOT A STATIC AGENDA. WE KNOW THAT THE ISSUES THAT IMPACT
More informationClimate Commitments and Conundrums: Introduction to the UNFCCC And Kyoto Protocol
Climate Commitments and Conundrums: Introduction to the UNFCCC And Kyoto Protocol Prof. Tracy Hester Climate Change Law Spring 2018 UN Framework Convention on Climate Change (UNFCCC) Intergovernmental
More informationKING III COMPLIANCE ANALYSIS
Principle element No Application method or explanation This document has been prepared in terms of the JSE Listings Requirements and sets out the application of the 75 Principles of the King III Report
More informationEXAMINATION OF GREEN IT STRATEGIES BY THE APPLICATION EXAMPLES
/ www.sosyalarastirmalar.com Issn: 1307-9581 http://dx.doi.org/10.17719/jisr.2019.3137 EXAMINATION OF GREEN IT STRATEGIES BY THE APPLICATION EXAMPLES Yasin Galip GENCER Abstract The main goal of this study
More informationBHP s approach to climate change scenario analysis. Dr. Fiona Wild Vice President, Sustainability and Climate Change
BHP s approach to climate change scenario analysis Dr. Fiona Wild Vice President, Sustainability and Climate Change About BHP We are a leading global resources company Our purpose is to create long-term
More informationBusiness Goals and Inventory Design
2 Business Goals and Inventory Design Improving your understanding of your company s GHG emissions by compiling a GHG inventory makes good business sense. Companies frequently cite the following five business
More informationCourse Bachelor of Business (Accounting) Course Code BACC16. Location and Commencement Date Chadstone Campus
Course Bachelor of Business (Accounting) Course Code BACC16 Location and Commencement Date Chadstone Campus Helen Wilson, Course Leader: helen.wilson@holmesglen.edu.au PUBLIC Holmesglen: bh 14-Dec-2016
More informationAPPLICATION OF THE KING IV REPORT ON CORPORATE GOVERNANCE FOR SOUTH AFRICA 2016 TM (King IV TM )
(Incorporated in the Republic of South Africa) (Registration number 2006/019240/06) APPLICATION OF THE KING IV REPORT ON CORPORATE GOVERNANCE FOR SOUTH AFRICA 2016 TM (King IV TM ) DATE OF ISSUE: MAY 2018
More informationClimate Commitments and Conundrums: Introduction to the Kyoto Protocol
Climate Commitments and Conundrums: Introduction to the Kyoto Protocol Prof. Tracy Hester Climate Change Law Fall 2013 Houston, Texas Nov. 4, 2013 Canada pulls out of Kyoto Protocol CBC News Posted: Dec
More informationENVIRONMENTAL ACCOUNTING, CSR DISCLOSURES AND ASSURANCE
(Maria Fatima Reyes) Abstract for CAPA session on ENVIRONMENTAL ACCOUNTING, CSR DISCLOSURES AND ASSURANCE Beyond the Glossy Report: Environmental and CSR Disclosures and Assurance Submitted by Maria Fatima
More informationNovember 2018 LGIM s Principles on executive remuneration. LGIM s Principles on executive remuneration
LGIM s Principles on executive remuneration As a long-term engaged investor we entrust the board to oversee the company and its management on our behalf. This equally applies to the setting and awarding
More informationFor personal use only
GALE Pacific Investor Presentation Results to 30 June 2015 September 2015 Who we are GALE Pacific manufactures and markets branded screening, shading and home improvement products. We are a world leader
More informationHERMES MICROVISION, INC. Corporate Social Responsibility Best Practice Principles
HERMES MICROVISION, INC. Corporate Social Responsibility Best Practice Principles 1 Purpose 1.1 In order to fulfill the corporate social responsibility initiatives and to promote economic, environmental,
More informationAs if you were not confused enough already?
How to implement Ingebjørg Gravlien As if you were not confused enough already? Media Analysts Investors Regulators Shareholders Employees Customers Business Partners Community Non-Governmental Organisations
More informationCorporate Social Responsibility Best Practice Principles of ASPEED Technology
Corporate Social Responsibility Best Practice Principles of ASPEED Technology Date:2015.06.03 ( Amended ) Chapter I General Principles Article 1 These Principles are adopted to assist the Company and its
More informationInventec Corporation Corporate Social Responsibility Best Practice Principles
Inventec Corporation Corporate Social Responsibility Best Practice Principles (This English version is a translation based on the original Chinese version. Where any discrepancy arises between the two
More informationCarbon Information Disclosure of Enterprises and their Value Creation Through Market Liquidity and Cost of Equity Capital
Journal of Industrial Engineering and Management JIEM, 2015 8(1): 137151 Online ISSN: 20130953 Print ISSN: 20138423 http://dx.doi.org/10.3926/jiem.1333 Carbon Information Disclosure of Enterprises and
More informationXcel Energy Inc. - Climate Change 2018
Xcel Energy Inc. - Climate Change 2018 Xcel Energy opted to submit a partial, non-scored response to CDP s Climate Change questionnaire this year. We responded to those questions that maintain consistent
More informationincluded Included in FTSE4Good Index Carbon emissions (CO 2 Carbon Disclosure Project performance band FTSE Russell/JSE Responsible Investment Index
ENVIRONMENT Carbon emissions (CO 2 ) 117 176 metric 2017: 118 434 metric tonnes tonnes 2016: 114 044 metric tonnes Carbon Disclosure Project performance band A- 2017: A- 2016: A- FTSE Russell/JSE Responsible
More informationIssues in Climate Change and Energy Security in Northeast Asia
Issues in Climate Change and Energy Security in Northeast Asia Seung Jick Yoo (Senior Research Fellow, Korea Energy Economics Institute) 1. Introduction Traditionally, energy security concerns are related
More informationP a g e 1 FINANCE SECTOR CODE OF CORPORATE GOVERNANCE
P a g e 1 FINANCE SECTOR CODE OF CORPORATE GOVERNANCE September 2011 P a g e 2 CONTENTS Page Introduction 5 Principles and Guidance 1. THE BOARD 8 Companies should be headed by an effective Board of directors
More informationPeople and Safety Committee Charter
People and Safety Committee Charter Queensland Rail Queensland Rail ABN 68 598 268 528 Contents 1. Purpose... 1 2. Key Responsibilities....1 3. Membership... 2 4. Meetings... 3 5. Conflicts of Interest...
More informationMBA (International Student Pathway) Course Descriptions
MBA (International Student Pathway) Course Descriptions CORE COURSES MBAB 5P01 Accounting for Decision-Making I The functional basics of accounting for management and business decisions. Data collection,
More informationMRV IN THE CONTEXT OF INDCS
MRV IN THE CONTEXT OF INDCS TYPES OF MRV MRV takes on a different meanings depending on the user and context: MRV of GHG emissions MRV of GHG emissions reductions of mitigation efforts MRV of non-ghg effects
More informationCarbon Impacts on Local Government. Prepared by: Carbon Solutions Group, Commonwealth Bank Date: November-09
Carbon Impacts on Local Government Prepared by: Carbon Solutions Group, Commonwealth Bank Date: November-09 Agenda 1. Overview of the Carbon Pollution Reduction Scheme 2. Implications for Local Governments
More informationBarbara Oliveira Global Sustainability Program Center for Sustainability Studies Fundação Getúlio Vargas
Barbara Oliveira Global Sustainability Program Center for Sustainability Studies Fundação Getúlio Vargas 1 Corporate Motivations for Participating in a Carbon Market Policies Cost reduction Transparency
More informationRenewable Energy Certificates. Harvard Energy Journal Club
Renewable Energy Certificates Harvard Energy Journal Club What are RECs? Non-tangible traded commodity certifying the amount of renewable energy used in manufacturing a good. Operate across several countries
More informationANZ Corporate Responsibility Report 2008
ANZ Corporate Responsibility Report 2008 External assurance statement and commentary Introduction Australia and New Zealand Banking Group Ltd ( ANZ ) has commissioned Corporate Citizenship to provide it
More information2.1 The quorum necessary for the transaction of business shall be two members of the Remuneration Committee.
ARROW GLOBAL GROUP PLC REMUNERATION COMMITTEE TERMS OF REFERENCE The following are the terms of reference of the Remuneration Committee (the Remuneration Committee ) of Arrow Global Group plc (the Company
More informationWashington State & Western Climate Initiatives
Working together for clean air Washington State & Western Climate Initiatives National Association of Clean Air Agencies October 27, 2007 Overview Early climate initiatives Governor Gregoire s Executive
More informationPaper presented to the New Zealand Institute of Foresters Conference, Wellington NZ, April 20 to
Trading of sequestered carbon an Australian perspective Nick O Brien 1 and Marisa Meizlish 2 Paper presented to the New Zealand Institute of Foresters Conference, Wellington NZ, April 20 to 23 2006. Abstract
More informationKING IV APPLICATION REGISTER. We do it better
KING IV APPLICATION REGISTER 2017 We do it better 1 KING IV APPLICATION REGISTER APPLICATION OF KING IV African Rainbow Minerals Limited (ARM or the Company) supports the governance outcomes, principles
More informationWistron NeWeb Corporation Corporate Social Responsibility Best-Practice Principles
Chapter I General Principles Wistron NeWeb Corporation Corporate Social Responsibility Best-Practice Principles Article 1 Article 2 Article 3 Article 4 Article 5 In order to assist Wistron NeWeb Corporation
More informationMRV SYSTEM IN CLIMATE CHANGE
MRV SYSTEM IN CLIMATE CHANGE From Kyoto to Paris Aryanie Amellina, Analyst Climate and Energy Area, Institute for Global Environmental Strategies (IGES) NDC Partnership Forum, Ulaanbaatar, Mongolia, 4
More informationRisk Reports. and Perceptions. RIMS Executive Report The Risk Perspective. A Miami University and RIMS Executive Research Paper
RIMS Executive Report The Risk Perspective Risk Reports and Perceptions A Miami University and RIMS Executive Research Paper The age-old argument as to which type of risk assessment report qualitative
More informationPearson plc The UK Corporate Governance Code Part 1- The Main Principles of the Code
Pearson plc The UK Corporate Governance Code Part 1- The Main Principles of the Code A LEADERSHIP COMPLIANCE 1 The role of the board Every company should be headed by an effective board which is collectively
More informationIntergovernmental Working Group of Experts on International Standards of Accounting and Reporting (ISAR) Sustainability Reporting
Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting (ISAR) 29th SESSION 31 October 2 November 2012 Room XIX, Palais des Nations, Geneva Friday, 2 November
More informationDefinition of corporate governance Corporate Governance Theories Causes of corporate governance problems in cooperatives
Contents: Definition of corporate governance Corporate Governance Theories Causes of corporate governance problems in cooperatives Why good Corporate Governance is necessary Basic tenets of good corporate
More informationSTATUTORY STATEMENT FOR CORPORATE GOVERNANCE CF. ART. 107b OF THE DANISH FINANCIAL STATEMENTS ACT DAMPSKIBSSELSKABET NORDEN A/S FINANCIAL YEAR 2017
The report forms part of the management s review and concerns the financial year 1 January 2017 to 31 December 2017 STATUTORY STATEMENT FOR CORPORATE GOVERNANCE CF. ART. 107b OF THE DANISH FINANCIAL STATEMENTS
More informationFOCAC: CHINA AND AFRICA BUILDING A SUSTAINABLE FUTURE
FOCAC: CHINA AND AFRICA BUILDING A SUSTAINABLE FUTURE 17 November 2015 Since its establishment in 2000, the Forum on China-Africa Cooperation (FOCAC) has enhanced economic cooperation, common development
More informationCorporate Governance Statement
Corporate Governance Statement The Board of Directors is committed to maintaining the highest standards of Corporate Governance. Corporate Governance is about having a set of core values and behaviours
More informationConfidence and Supply Agreement with New Zealand First
Confidence and Supply Agreement with New Zealand First Preamble New Zealand First pledged, on 7 September 2005, in a keynote address in Rotorua, that it would not enter into a formal coalition arrangement
More informationCorporate Governance Statement
The Board is committed to achieving and demonstrating the highest standards of corporate governance. As such, Sirtex Medical Limited and its controlled entities ( the Group ) have adopted a corporate governance
More informationThe Future of Green Buildings in the Region. Faridah Shafii Institute Sultan Iskandar Universiti Teknologi Malaysia
The Future of Green Buildings in the Region Faridah Shafii Institute Sultan Iskandar Universiti Teknologi Malaysia ENVIRONMENTAL IMPACTS OF BUILDINGS Buildings have significant impacts upon the environment
More informationCDP Reporting Roadmap Climate Change 2017
CDP Reporting Roadmap Climate Change 2017 CDP respond@cdp.net +44 (0) 20 3818 3900 www.cdp.net Licensing of the CDP Questionnaires The copyright to CDP s annual questionnaire/s is owned by CDP, a registered
More informationBU Institute for Sustainable Energy. A study of carbon offsets and RECs to meet Boston s mandate for carbon neutrality by 2050
BU Institute for Sustainable Energy A study of carbon offsets and RECs to meet Boston s mandate for carbon neutrality by 2050 Prepared as part of MIT Sloan s Sustainability Lab Spring 2018 Vanessa Barreto,
More informationNISOURCE INC KEY PERFORMANCE INDICATORS INDEPENDENT VERIFICATION STATEMENT
NISOURCE INC. 2017 KEY PERFORMANCE INDICATORS INDEPENDENT VERIFICATION STATEMENT Introduction Trinity Consultants, Inc. ( Trinity ) was contracted by NiSource Inc. ( NiSource ) to verify its environmental
More informationFinancial Reporting Council THE UK CORPORATE GOVERNANCE CODE
Financial Reporting Council THE UK CORPORATE GOVERNANCE CODE JULY 2018 The FRC s mission is to promote transparency and integrity in business. The FRC sets the UK Corporate Governance and Stewardship Codes
More information2018 Corporate Governance Statement
2018 Corporate Governance Statement The Board of Kidman Resources Limited (the Company) is responsible for the overall corporate governance of the Group. The Board believes that good corporate governance
More informationChapter 2 CORPORATE GOVERNANCE
Chapter 2 CORPORATE GOVERNANCE 9 1. Why corporate governance is needed Corporate governance is the system by which companies are directed and controlled. The problem with bad corporate governance is that
More information2017 SUPPLEMENTARY NOTICE OF MEETING
2017 SUPPLEMENTARY NOTICE OF MEETING This is a Supplementary Notice (Notice) to the Notice of Meeting dated 22 March 2017 convening the eighty sixth Annual Meeting (the Meeting) of Members of Oil Search
More informationCLOCK IS TICKING. A Mid-Term Report Card on the Federal Government and its Work on the Environment
CLOCK IS TICKING A Mid-Term Report Card on the Federal Government and its Work on the Environment May 2018 INTRODUCTION When the new federal government took office in 2015, it arrived with a great deal
More informationCorporate Governance Statement
The Board is committed to achieving and demonstrating the highest standards of corporate governance. As such, Sirtex Medical Limited and its controlled entities ( the Group ) have adopted a corporate governance
More informationDEFINING A CORPORATE CLIMATE FINANCE COMMITMENT
DEFINING A CORPORATE CLIMATE FINANCE COMMITMENT A Pillar of Corporate Climate Stewardship April 2018 Version 1.0 Sarah Leugers Director of Communications Gold Standard Pedro Faria Technical Director CDP
More informationANNUAL CORPORATE GOVERNANCE STATEMENT 2015/16
ANNUAL CORPORATE GOVERNANCE STATEMENT 2015/16 CF. SECTION 107B OF THE DANISH FINANCIAL STATEMENTS ACT Chr. Hansen Holding A/S Bøge Allé 10-12, 2970 Hørsholm, Denmark Company reg. no. 28318677 ANNUAL CORPORATE
More informationClimate Change and Greenhouse Gas Emissions
Since, we have reduced carbon emissions 35 percent from the electricity that serves customers avoiding 30 million tons of carbon dioxide in, equivalent to taking 5.8 million cars off the road for a year.
More information1 Risks and Opportunities Objective: To identify strategic risks and opportunities and their implications.
1 Risks and Opportunities Objective: To identify strategic risks and opportunities and their implications. a Risks: i Regulatory Risks: How is your company exposed to regulatory risks related to climate
More informationUnderstanding and Proactively Preparing for Carbon Management
Xia Enyu Introduction Industrial organizations are already faced with many compliance regulations, such as management system certification, information security, corporate social responsibility compliance,
More informationCorporate Governance Statement September 2016
Level 9, Waterfront Place 1 Eagle St, Brisbane QLD 4000 GPO Box 1164, Brisbane QLD 4001 Telephone: 07 3108 3500 Fax: 07 3108 3501 Email: admin@lanewayresources.com.au www.lanewayresources.com.au Corporate
More informationEU STRATEGY FOR CSR
9 January 2012 EU STRATEGY 2011-2014 FOR CSR 1 2 3 KEY MESSAGES CSR is driven by business, reflected in the growing number of companies integrating CSR into their business strategies, aware of the benefits
More informationMAKING HEADWAY IN EUROPE
LINKING GRI S AND THE EUROPEAN DIRECTIVE ON NON-FINANCIAL AND DIVERSITY DISCLOSURE » 2 Contact If you have any questions or feedback on this document, please contact guidelines@globalreporting.org Acknowledgements
More information