World-wide initiatives in emissions trading are numerous and complex, involving governmental policy, regulatory and other developments. Amongst these initiatives, the European Union Emissions Trading Scheme (EUETS) and the Kyoto Protocol are likely to demand new organisational competences to which management accountants will need to respond, whilst management accounting systems are already central to many environmental concerns. Systems of capital investment appraisal, performance measurement and transfer pricing are implicated in environmental management at the corporate level, whilst there is a growing need to account for emissions trading for financial reporting purposes.

Management accountants will need to learn a new language associated with these initiatives if they are to be able to work alongside technical experts and to contribute to debates which are already affecting corporate agendas. (PDF 99KB)

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