A survey of 151 Australian CEOs found that many large businesses have not accounted for carbon costs in their corporate strategy, and around a quarter of those surveyed had not yet taken any action to prepare for the impending carbon pollution reduction scheme.
The survey also found that only 20.5% had designated executive level responsibility for carbon management, and many companies were planning to outsource their responsibility for emissions trading. “Almost 75% did not know if their earnings will decrease under the scheme,” and “only 7.3% have a detailed financial model of CPRS effects in their strategic plan.”
Andrew Petersen of PWC says,
“Executives that have so far been slow to act should “look beyond the political debate over the next two weeks and start preparing your business to survive and respond and grow in this low-carbon economy.”
“Because effective carbon management is starting to emerge as one of the key measures of corporate success in the 21st century.”
Read the full article here.
