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The Chief Financial Officer + Sustainability + Carbon

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Presentation to CFO Symposium …

Presentation to CFO Symposium
Hilton Hotel, Sydney, 12 September 2011

Published in: Technology, Business

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  • Internal and external reporting skills
  • Engage with stakeholders > tell your story
  • Transcript

    • 1. Aaron Magner
      • UNSW Sustainability
      • Sustainability + Carbon
      • People + profit + planet
      • The role of the CFO
      CFO Symposium University of New South Wales
    • 2.
        • Overview
      Sustainability + Carbon
        • Carbon price impacts
        • Mandatory reporting: carbon + greenhouse emissions
        • Voluntary reporting: carbon + sustainability
        • Evolving role + responsibilities of CFO + corporate finance
        • Trends in sustainability reporting
        • Sustainability and carbon issues to address now.
    • 3. What Sustainability means for you
        • Sustainability = the capacity to endure .
      Environmental > Energy—fuel, oil, alternative > Water > Carbon emissions > Waste reduction > Recycling > Reprocessing/re-use > Green cleaning > Agriculture/organic foods > Packaging > Product content > Biodiversity Economic > Accountability/transparency > Corporate governance > Stakeholder value > Economic performance > Financial objectives Social > Public policy and advocacy > Community investments > Working conditions > Health/nutrition > Diversity > Human rights > Socially responsible investing > Anticorruption and bribery > Safety > Fair Trade
    • 4. The carbon price
        • Carbon emissions data = financial data
        • Clean Energy Futures package:
          • Clean Energy Bill 2011 > sets up the carbon price.
          • Clean Energy Regulator Bill 2011 > sets up regulator.
          • Climate Change Authority Bill > advise government on carbon price mechanism.
        • 1 July 2012: $23 tonne CO2-e.
        • 1 July 2015: Emission Trading Scheme
        • Directly applies to 500 facilities.
        • Pass through to consumers: indirect liability.
    • 5. Carbon = NGER Reporting
        • National Greenhouse and Energy Reporting Act (NGER)
        • Must submit by 31 October for year end 30 June:
          • Energy consumed + energy produced
          • Based on invoices for electricity, gas, fossil fuels.
          • Calculate emissions for each ‘facility’ and each type of greenhouse gas for each facility expressed as CO2-e.
          • Department of Climate Change and Energy Efficiency audits + fines.
        • NGER methodology underpins:
          • Carbon tax and Emission Trading Scheme
          • Government National Greenhouse Inventory.
          • National Carbon Offset Standard.
    • 6. Carbon = voluntary reporting
        • Carbon + emissions data = financial data
        • Energy Auditing and Management
        • Carbon tax liability assessment
        • Emissions Management Plan
        • Life Cycle Assessment
        • Carbon Neutral Certification for Company
        • or Product/Service
        • The Carbon Disclosure Project
        • Data visualization, smart grid, energy efficiency opportunities.
    • 7. Role of the CFO
        • Sustainability + Carbon data has become
        • embedded in CFO’s traditional areas of focus.
        • Access to evidence
        • Data collection processes
        • Strong analytical skills
        • Reporting skills
        • Reporting culture
        • Consistency of approach
        • Internal audit function
        • External audit relationships.
    • 8.
        • Sustainability reporting not yet mandatory.
      Why report if you don't have to?
        • Develop administrative capacity.
        • To drive value creation
        • Quality of management insight
        • Demonstration of value creation to stakeholders
        • Risk management incl. supply chain risks
        • Investor + customer demand
        • Competitor pressure
        • Request from stakeholders
        • To prepare for future mandatory reporting.
    • 9. Sustainability Indexes
        • Sustainability Equity indexes
        • FTSE4Good
        • Dow Jones Sustainability Index
        • RepuTex
      • Credit rating agencies + investment brokers
        • Moodies + Standard and Poor's
        • Thomson Reuters + Mercers
        • Socially Responsible Investment (SRI)
        • Environment, Social and Governance (ESG).
    • 10. Sustainability reporting frameworks
      • International
      • The Global Reporting Initiative – GRI 3.1
      • The UN Global Compact
      • AA1000 Series
      • Social Accountability 8000. 
        • Australian
        • GRI followed by 90% of sustainability reporters
        • National Carbon Offset Standard
        • AUASB to issue ASAE 3410 Greenhouse Gas Statement.
    • 11. Trends: Walmart + supply chain
        • Suppliers must provide detailed sustainability data.
        • Category of questions:
          • Energy & Climate
          • Material Efficiency
          • Nature and Resources
          • People & Community.
    • 12. Trends: Product responsibility
      • Product reporting
      • Ethical shopper guide 0- Choice
    • 13. What you can do
        • Work with sustainability staff
        • Engage and connect sustainability data holders.
        • Develop sustainability performance metrics
        • Training staff in carbon accounting and sustainability reporting
        • Communicate a sustainability vision & mission
        • Establish a sustainability management committee for governance
        • Establish business rules and policies and procedures.
        • Consider carbon management and sustainability reporting software.
        • Consider third party audit and assurance.
      Actions for CFO’s to take to enhance corporate value through sustainability
    • 14. Thank you + Keep in touch
      • Aaron Magner
      • Director
      • UNSW Sustainability UNSW SYDNEY NSW 2052 www.unsw.edu.au/sustainability
      • LinkedIn linkedin.com/in/aaronmagner Twitter @aaronmagner Slideshare slideshare.net/aaronmagner
      • Facebook facebook.com/SustainUNSW

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