Climate change

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Understanding the reality and impact of climate change and the surrounding urgency in addressing the associated issues is creating significant new demands upon business and government. 

For many in business, dealing with the ramifications of climate change is a whole new ball game. Managing climate risk whether from a marketing, strategic planning, business development, financial reporting or simple compliance perspective – will require considerable focus and commitment of resources.

Latest news

Climate change and energy security: The future is now
Dr Joseph A Stanislaw, independent senior advisor to Deloitte's energy and resources group, discusses the convergence of climate change and energy security over the past two years. For the first time in history, nations, corporate leaders, entrepreneurs and individuals believe they can make a difference - through their own actions - in confronting this global challenge.

Clean energy needs big commitment
In the current environment of community concerns about climate change, governments as well as industry are seeking to position themselves as initiators and active supporters of measures to address the associated issues. These developments are examined in an article by Keith Orchison, a former head of both the Energy Supply Association of Australia and the Australian Petroleum Producers & Explorers Association.

Alerts

Accounting for emissions trading
Accounting for greenhouse gas emissions remains a challenge, and market participants continue to wait for clear guidance from accounting standards setters. Formative efforts have proven unsuccessful and as a consequence, many companies remain confused about the appropriate accounting treatments under both International Financial Reporting Standards and generally accepted accounting principles.

Balancing the greenhouse books
There is growing consensus about the connection between carbon emissions and climate change, yet there is virtually no agreement on how ‘going green’ should be recorded in financial accounts. According to John Kidd, Deloitte partner, “Directors should be primarily concerned about high level policy issues such as the size of the company’s carbon footprint and what actions the company will take to reduce this."

Discussion Papers

Forward thinking: the importance of managing greenhouse gas emissions
Global climate change has now propelled stakeholders such as institutional investors, financial organisations, shareholder advocacy groups and rating agencies to take action. This paper outlines the benefits of taking a forward-thinking approach to proactively managing GHG emissions rather than waiting for emissions restraint and regulation to be imposed.

Reaction required - the role of carbon pricing
This is the first in a series of four articles written by our specialist nuclear advisory team in the UK.It aims to stimulate debate on issues surrounding the future of nuclear power and has useful insights for any reconsideration of nuclear power in Australia. As leading nuclear advisors globally, our UK team examines preconceptions about this fuel source via an examination of current facts and developments.

Podcasts

The nuclear option a conversation with Ziggy Switkowski
In this podcast, our national leader for Risk Service, Mr Ron Loborec, talks with Dr Ziggy Switkowski, Chairman of the Federal Government Task Force which recently reviewed the options for Australia of a uranium mining, processing and energy industry. They discuss climate change and nuclear power as one of a range of alternative energy sources for Australia.

Publications

Climate change: insuring the built environment for extreme weather conditions
As underwriters of a large proportion of  more than $1500 billion of assets of the built environment in Australia, the insurance industry’s single biggest threat is natural disaster. The link between climate change and increased frequency of extreme risk events is one of its growing concerns. Deloitte partner Paul Franks and Boral Sustainability Manager David Newhouse, review the industry’s position.

Reports

What directors need to know about climate change and carbon trading?
In under a year greenhouse gas concerns have become mainstream, permeating the consciousness of the broader business community. No longer an issue for heavy emitters of greenhouse gas alone, there are business implications for non energy intensive businesses, for the services sector beyond insurers and the investment community, as well as the manufacturing and retail sectors.

For more information on any of the above, please contact us by email via the link below.