Environmental Management Accounting

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Environmental Management Accounting Workshop
3.1.3
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Panel of Speakers
Mr Tarcisio Alvarez-Rivero UN Department of
Economic and Social Affairs Dr Christine
Jasch Vienna Institute for Environmental
Management and Economics Professor Takeshi
Mizuguchi Takasaki City University of
Economics Professor Roger Burritt University of
South Australia Mr Allen Blewitt, Chair ACCA
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Key EMA questions
Why should accountants worry about the financial
impacts and implications of environmental issues?
What are the key issues that concern
us? Where does conventional GAAP fall
down? How can accountants help?
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Why should accountants worry?
clean up costs after spills and
accidents legal, assurance and monitoring
costs revenue streams from waste recycling and
environmentally friendly products costs
imposed by environmental legislation such as
product take back legislation CAPEX decisions
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Why should accountants worry?
legal due process in MA activity exposure to
carbon risk reputational risk associated with
accidents and poor disclosure of environmental
track record
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The new corporate risk carbon
carbon risks regulatory physical litigatio
n competitiveness reputational
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What are the key issues?
conventional management accounting only tracks
conventionally recognisable cost groups and
internalities lack of full-cost accounting
results in wrongly priced goods and
services unsustainable business practices
continue
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Where does conventional GAAP fall down?
? internal accounting and costing systems ?
captures externalities only when
internalised ? sustainable profit
measurement ? capturing the intangible benefits
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How can accountants help?
? good analytic and costing skills ?
understand about CAPEX ? estimate future
liabilities or financial implications of
legislation ? expert in developing costing and
forecasting systems
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Lessons from non-accountants
Forum for the Future, UK Sustainable
profits World Resources Institute, USA Green
ledgers Case studies in corporate environmental
accounting
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ACCA
led in developing environmental accounting
methodologies in the early 1990s staged
several EMA seminars in partnership with the UK
Environment Agency explored in some depth the
current state of development in full cost
accounting