At a national and global level, climate change has become a key business issue. Governments worldwide are now imposing measures to reduce Greenhouse Gas (GHG) emissions – including mandatory emissions trading, voluntary regimes, carbon or energy taxes, and regulatory standards on energy efficiency and emissions.
The Australian Government has introduced a mandatory reporting scheme, called The National Greenhouse and Energy Reporting Act (NGER). The Act compels organisations to register and report if they emit greenhouse gases, produce energy, or consume energy at or above specified annual thresholds. The onus is on the organisation to determine if they have to report or not - which effectively means that many organisation must know their Carbon position, if only to prove that they need not report yet under current limits.
The cost of non-compliance is significant with penalties of up to $220,000 plus $11,000 per day accruing to over $4 million within a year, and criminal charges for CEOs and executive officers found to be in breach. Business cannot afford to be non-compliant.