RSM Bird Cameron urges businesses to start preparing now for the carbon tax

RSM_Bird_Cameron_Logo@2xMay 14, 2012RSM Bird Cameron, one of the largest mid-tier accounting firms in Australia, is urging businesses to start preparing now for the introduction of the carbon tax on July 1, 2012.

Tim Pittaway, principal, RSM Bird Cameron, said, “The task of transitioning to a low-carbon economy will place significant regulatory, market and reputational pressures on business.

“The main implication for management and boards is that carbon risks need to be integrated into decision-making and risk management processes throughout the organisation. Company directors need the skills and expertise to understand and respond to climate change-related risks.

“Businesses that do not manage carbon risks appropriately will fail to become compliant with emerging legislation or will not manage to collect quality emissions data or produce quality disclosure.”

The areas business should be considering in their strategies include:
* carbon risk management
* compliance audit with existing and future carbon legislation
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RSM Bird Cameron urges SMEs to start preparing now for the effect of carbon tax

RSM_Bird_Cameron_Logo@2xMay 14, 2012RSM Bird Cameron, one of the largest mid-tier accounting firms in Australia, is urging small to medium-sized enterprises (SMEs) to start preparing now for the introduction of the carbon tax on July 1, 2012.

Tim Pittaway, principal, RSM Bird Cameron, said, “The task of transitioning to a low-carbon economy will place significant regulatory, market and reputational pressures on all businesses.

“While the carbon price will firstly affect big polluters, the most likely outcome is that extra costs will be transferred onto SMEs and consumers.

“SMEs need to start preparing for the introduction of a carbon price in Australia and initiate moves to understand their carbon exposure.

“The more Australia continues to generate additional carbon emissions, the higher the carbon price and the more expensive reduction strategies will become, which is why SMEs have a real incentive to
start accounting for carbon sooner rather than later.”

Issues SMEs should start considering now:
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