Isramart : Business ‘not releasing carbon reports’

Isramart news:
Many US companies are failing to release information about their use of carbon credits or allowances within their financial reports, a new poll has revealed.
Firms remaining tight-lipped on emissions

A report carried out by Ernst & Young showed that out of over 1,000 firms with revenues of between $1 billion and $100 billion, only 29 had included information about their emissions credits in their financial statements.

Furthermore, less than 50 per cent of the firms surveyed said they had a policy in place which is designed to deal with regulations to do with carbon emissions.

"An overall approach to greenhouse gas management that involves a cross-functional team of professionals –- from the tax department to the environmental sustainability team –- is vital to identify and implement carbon management initiatives," said report co-author Herb Listen.

A number of nations have carbon credit schemes in place, which see firms given limits on how much carbon they can emit but also the option to "sell" allowances to other companies who need more.

This is aimed at limiting the amount of carbon that the business sector as a whole gives out.