Vaibhav S, a student of BCOM 2023 batch, presented on "Accounting for Planet" which involves measuring the environmental impacts of human activities, particularly business activities. It assesses the costs and benefits of activities on the environment and considers long-term consequences. Key aspects include environmental impact assessments, carbon accounting, sustainability reporting, life cycle assessments, and natural capital accounting. Accounting for the planet benefits the environment through regulatory compliance, identifying efficiency opportunities, and mitigating climate change. However, it also has disadvantages like costs, complexity, data accuracy challenges, and regulatory burdens for organizations.

1. DEPARTMENT OF COMMERCE (UG)
TITLE OF PRESENTATION : ACCOUNTING FOR PLANET
NAME & ROLL NO. OF STUDENT : VAIBHAV.S 23COMA63
VOICE OF THE STUDENT : VAIBHAV.S
COURSE : BCOM,2023 SECTION : A
BATCH : 2023-2026

2. ACCOUNTING FOR PLANET
CONTENTS:
 INTRODUCTION
 WHY ACCOUNTING FOR PLANET
 ADVANTAGES
 DISADVANTAGES

3. Accounting for the planet typically refers to the practice of measuring and
managing the environmental and sustainability impacts of human activities,
particularly in the context of business and economic activities. It involves
assessing the costs and benefits of these activities on the natural environment
and considering long-term consequences for the planet's health.
some key aspects of accounting for the planet:
 Environmental Impact Assessment
 Carbon Accounting
 Sustainability Reporting
 Life Cycle Assessment (LCA)
 Natural Capital Accounting

4.  Sustainability hinges on understanding and managing the environmental consequences of human activities.
 Environmental awareness is increasing, driving the need for transparency in assessing human impacts on the planet.
 Regulatory compliance with environmental laws and regulations is crucial for protecting the planet.
 Failing to account for environmental impacts can lead to financial and reputational risks.
 Environmental accounting helps identify opportunities for resource efficiency and cost reduction.
 Organizations practicing environmental responsibility gain a competitive edge.
 Long-term economic viability requires operating within the planet's ecological boundaries.
 Mitigating climate change requires tracking and reducing greenhouse gas emissions.
 Acknowledging the value of ecosystem services ensures their preservation for human well-being.
 Transparency and accountability in environmental performance benefit stakeholders and the global community, promoting responsible global citizenship.
WHY ACCOUNTING FOR PLANET ?

5. ADVANTAGES OF ACCOUNTING FOR PLANET :
• Economic Diversification: Encourages green industries and renewable energy, reducing reliance on fossil
fuels and ensuring long-term economic stability.
• Education and Awareness: Raises public awareness about environmental conservation and sustainable
living, driving positive behavioral changes.
• Eco-Tourism: Boosts eco-tourism by attracting environmentally conscious tourists who support
destinations focused on conservation.
• Wildlife Conservation: Contributes to wildlife conservation by protecting critical habitats and preventing
species extinction.
• Urban Planning: Informs sustainable urban planning with considerations for green spaces, efficient
transportation, and energy-efficient buildings.

6. DISADVANTAGES FOR ACCOUNTING FOR PLANET :
• Costs: Implementing environmental accounting can be costly, especially for smaller
organizations, involving expenses for data collection, monitoring systems, and staff training.
• Complexity: Environmental accounting can be complex, posing challenges for organizations
in terms of understanding and managing the intricacies of calculations and assessments.
• Data Accuracy: Accurate data collection and reporting are vital, as inaccuracies or
incomplete data can lead to incorrect conclusions and misinformed decisions.
• Greenwashing: Some organizations may misuse environmental accounting as a marketing
tactic, falsely presenting themselves as environmentally responsible without substantive
changes, which can mislead stakeholders.
• Regulatory Burden: Meeting environmental reporting requirements can be burdensome,
especially when regulations vary by region or country, necessitating significant administrative
efforts for compliance.