A comprehensive guide and tool that enables companies to manage the costs, risks and uncertainty associated with the carbon price and to examine the impact of their carbon emissions on their operations has been launched by the Carbon Market Institute.
The Carbon Decision Making and Risk Management tool and complementary guide have been developed in association with global law firm Baker & McKenzie, ClimateWorks Australia, Climate Mundial and Seed Advisory.
Businesses directly liable under the Carbon Pricing Mechanism can use the Carbon Decision Making and Risk Management tool to examine the impact of their carbon emissions on their operations.
“We have invested in the development of the Carbon Decision Making and Risk Management tool because it provides liable entities with the information they need to determine how they can meet their new compliance obligations and manage their financial exposure with minimal expense and risk,” says Carbon Market Institute chief executive officer Peter Castellas.
Castellas adds that the tool and its complementary guide are designed to cut a clear path through what can seem a daunting and confusing area.
“There is much debate surrounding how the Australian carbon market will evolve. However, many companies, including those directly liable under the Carbon Pricing Mechanism as well as those impacted by carbon price cost increases coming into their business, can benefit today from a better understanding of their options to manage the costs, risks and uncertainty,” says Castellas.
ClimateWorks Australia Executive Director Anna Skarbek says the tool is a powerful aid to businesses facing uncertainty.
“This tool allows companies to compare the value of different options to reduce their carbon liability, and to assess the performance of these under different scenarios such as changing energy or carbon prices,” she says.
“Using their own data, companies will be able to compare energy efficiency projects against other forms of carbon management such as purchasing permits, and assess the savings from starting some actions before others,” says Skarbek.
The Carbon Decision Making and Risk Management guide and tool are available for purchase from the Carbon Market Institute.
For more information, please contact:
Carbon Market Institute Communications Manager Gabrielle Callahan
Phone: 03 9245 0960 or 0408 997 486
The Carbon Market Institute is an independent membership-based not-for-profit organisation. Our aim is to assist Australian businesses in meeting the challenges and opportunities associated with the developing national and international carbon markets and thereby build capacity to grow in a low-carbon world.
Established with support from the Victorian Government, our Asia-Pacific wide membership represents a broad range of professionals, organisations and industry providers for whom carbon will have a direct impact on their businesses both in terms of liabilities and potential opportunities.
The Institute has a strong research program and provides market analysis, education and training, business networking and information services, and international engagement. CMI is also developing professional standards and an accreditation program.
CMI incorporates and builds on the networks, partnerships and services developed by the former Asia-Pacific Emissions Trading Forum (AETF) which began operations in 1998. CMI commenced operation on 1 January 2011 with a mandate to assist Australian business with the implementation of climate-related markets, both in terms of managing risk and realising business opportunities.