Are You Carbon Ready for Mandatory Reporting?
To align with global objectives, the Australian Federal Government is preparing for businesses to report on their climate-related financials, including standardised requirements relating to “governance, strategy, risk management, targets and metrics- including greenhouse gasses”.
Mandatory Reporting
Mega businesses are having to report as of 2024 (yes, this year) and medium companies in 2026. Organisations in the third tier, (which resembles many entities in the Built Environment) will be required to report in 2027, if they meet two of the following thresholds a) over 100 employees b) consolidated gross assets valued at $25 million or more; and c) consolidated revenue of $50 million or more.
Environmental Responsibility
Yet many in our industry aren’t waiting for legislation and voluntarily implementing change in their organisations due to their own business values and end user expectations. We applaud these companies as we know how difficult it is to create a paradigm shift in their processes, operations and culture.
Yet we also understand those that are not sure how to start - and are reaching out to CDT for support as they wish to have support in their sustainable strategies.
According to the United Nations SDGs, carbon emissions is one of the highest priority at this stage. So this is the "Decade of Do” and we have six years left to do it in…
Carbon accounting helps identify the areas of your business that is emitting greenhouse gases. By
Scope 1, 2 and 3
What does this mean to my business? Simply put :
Scope 1 are the direct emissions controlled by a company
Scope 2 indirect emissions such as utilities to run a company
Scope 3 indirectly created through a company’s value chain i.e. supplier operations
Competitive Advantage
As more and more organisations are becoming environmentally conscious, customer, investors and other stakeholders are increasingly interested in the ESG (environmental, social, governance) impact of the organisations they work with. As they review their own businesses they expect those that transact with to also hold similar values.
Expectations
Clients and end users also expect change. It is a new world.
Understanding your carbon readiness are the first steps.
Carbon Readiness Assessment our assessment serves as a fact-finding mission to gather information and determine the necessary steps for initiating carbon accounting within your organisation. By understanding your business and identifying the required data, CDT can lay the foundation for a successful accounting program.
To learn more, simply send us an email and we shall be in touch within 24 hours.
