New Frontiers in CarbonAccounting – IntroductionFrancisco Ascui25 Sept 2012
OverviewWhat does carbon accounting mean?What are its new frontiers and why does it matter?Carbon accounting in the Busine...
Many different things…Sources: IPCC Fourth Assessment Report; IPCC 2006 Guidelines for National Greenhouse Gas Inventories...
…to many different people…                                                                         Physical               ...
…in many different ways!25 Sept 2012   New Frontiers in Carbon Accounting   5
Expanded definition         Carbon accounting can be defined as the:                                           emissions t...
(Some) new frontiers…                                 Space-based monitoring                   Localised measurements usin...
Why does it matter?Significant financial flows associated with society’s response   to climate change3,715 companies world...
Carbon accounting in the                   Business SchoolFirst full Masters-level course in Carbon Accounting     Part of...
Thank you!Francisco AscuiDirector, Centre for Business and Climate ChangeUniversity of Edinburgh Business Schoolfrancisco....
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New Frontiers in Carbon Accounting - Francisco Ascui (25.09.12)

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Presentation by Francisco Ascui, Director of the Centre for Business and Climate Change and Director of the MSc Carbon Finance programme at the University of Edinburgh Business School. This presentation was delivered at a joint Guest Speaker event with the Edinburgh Centre for Carbon Innovation.

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New Frontiers in Carbon Accounting - Francisco Ascui (25.09.12)

  1. 1. New Frontiers in CarbonAccounting – IntroductionFrancisco Ascui25 Sept 2012
  2. 2. OverviewWhat does carbon accounting mean?What are its new frontiers and why does it matter?Carbon accounting in the Business School25 Sept 2012 New Frontiers in Carbon Accounting 2
  3. 3. Many different things…Sources: IPCC Fourth Assessment Report; IPCC 2006 Guidelines for National Greenhouse Gas Inventories; PwC Typico plc 25 Sept 2012 New Frontiers in Carbon Accounting 3
  4. 4. …to many different people… Physical • Scientists Financial Political • Policy-makers, • Accountants bureaucrats Social/ environmental Market-enabling • Carbon traders, project • Carbon managers, developers, GHG auditors footprinting specialistsAdapted from: Ascui, F. and Lovell, H. (2011) “As frames collide: Making sense of carbon accounting”, AAAJ 24 (8): 978-999 25 Sept 2012 New Frontiers in Carbon Accounting 4
  5. 5. …in many different ways!25 Sept 2012 New Frontiers in Carbon Accounting 5
  6. 6. Expanded definition Carbon accounting can be defined as the: emissions to the atmosphere global removals from the atmosphere national emission rights researchestimation sub-national emission obligations compliancecalculation regional carbon emission reductions reportingmeasurement civic carbon disclosuremonitoring organisational level, mandatory of dioxide legal or financial instruments at benchmarking purposesreporting corporate for voluntary greenhouse linked to the above auditingvalidation project gas trades/transactions of any of informationverification installation the above marketingauditing event or other product impacts on climate change supply chain impacts from climate change Source: Ascui, F. and Lovell, H. (2011) “As frames collide: Making sense of carbon accounting”, AAAJ 24 (8): 978-999 25 Sept 2012 New Frontiers in Carbon Accounting 6
  7. 7. (Some) new frontiers… Space-based monitoring Localised measurements using flux towers Physical REDD+ MRV • Scientists MonitoringAccounting for climate financeauctioned EUAs Financial Political • Policy-makers, • AccountantsFinancial reporting bureaucrats NAMA MRVstandard NAMAUK mandatory crediting Social/reporting environmental Market-enabling • Carbon traders, project • Carbon managers, developers, GHG auditors footprinting specialists Carbon stock accounting Strategic carbon management accounting Consolidation of standards 25 Sept 2012 New Frontiers in Carbon Accounting 7
  8. 8. Why does it matter?Significant financial flows associated with society’s response to climate change3,715 companies worldwide reported to CDP in 2011GHG reporting mandatory for UK listed companies from 2013 (regulations currently out for consultation – Defra)EU ETS will shortly start auctioning around 1bn EUAs/yearCarbon measurement, management and reduction #1 opportunity for UK consultants (ENDS survey, 2010)Very few people have been trained how to do it25 Sept 2012 New Frontiers in Carbon Accounting 8
  9. 9. Carbon accounting in the Business SchoolFirst full Masters-level course in Carbon Accounting Part of world’s first MSc in Carbon Finance Also taught as part of MSc in Carbon Management, MSc/MBA optionsCarbon accounting research Understanding carbon accounting, who is involved and how it is done Measuring corporate carbon performanceEngagement Spin-out company specialising in carbon benchmarking (2009) FTSE CDP Carbon Strategy Index (since 2010) Brand Republic/Greeenstar carbon ratings (since 2010) Association of Carbon Professionals (since 2011) Conference on carbon accounting in Jan 201325 Sept 2012 New Frontiers in Carbon Accounting 9
  10. 10. Thank you!Francisco AscuiDirector, Centre for Business and Climate ChangeUniversity of Edinburgh Business Schoolfrancisco.ascui@ed.ac.uk25 Sept 2012 New Frontiers in Carbon Accounting 10

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