L9 Accounting0

L9 Accounting0 - L9 Accounting/Finance BG: Chapter 12 What...

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Unformatted text preview: L9 Accounting/Finance BG: Chapter 12 What Gets Measured Gets Done What can you do? Finance and accounting departments play a major role in influencing strategic decisions. Working in a department you can develop TBL metrics or enhance existing ones. Managing a department, you can communicate to senior management. Managers must disseminate information so sustainability is part of the culture, not just focused on departmental solutions. Movement of Environmental Economics Push for organizations to bear the cost of impacts on the environment, society or economy. Car companies to pay for road damages Mortgage lenders underwriting risky loans Soy farmers to pay for CO2 emissions no longer captured by deforested rain forests What do you think? Is this possible? Sustainability Reports Measure the impact of sustainable initiatives Assists the organization to assess benefits, costs, risk Reports progress and challenges Organizations are using metrics to measure impacts through the triple bottom line Thus a tool for sustainability managers Internal and External Reports Internal Board of Directors Audit Committee Internal Control Committee Senior Mgmt Managers Employees Business Partners External Registered auditor Regulators Shareholders Creditors Financial analysts Customers Suppliers Community, media Internal Reporting Environmental Management Systems are now being combined with Environmental Audits. Whats an EMS? The Environmental Management System (EMS) Environmental Policy Planning Implementation Corrective Action Management Review The same functions of managers: Planning, Organizing, Leading and Controlling, just now adds environmental policy Environmental Planning Process Identify environmental aspects how do we interact with the environment? Identify legal issues/compliance Develop Objectives/Targets Establish environmental programs The Audit Process Initiate Prepare Execute Report Objective and unbiased reporting Expertise needed: Environmental science Operations technical expertise Knowledge of regulations Smuckers Quality Beverages Solid Waste Policy Measurement Procedures Communication Tools Smuckers Quality Beverages Sustainability Success Story Where We Are Now Best practice recycling program in place since 1995 Current recycling rate 99.9% Waste Reduction Awards Program (WRAP) 9 consecutive years The first Zero Energy Footprint LEED-Certified building in Northern California. Where We Are Now Purchasing Green Energy Certificates Significant ROI with onsite energy generation and efficiency projects Wastewater Methane Turbine Natural Gas Micro Turbines Natural Gas Driven Chiller Hundreds of Energy Projects 200 KW PV Solar System LEED-Certified Cold Storage...
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L9 Accounting0 - L9 Accounting/Finance BG: Chapter 12 What...

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