...Boston College Environmental Affairs Law Review Volume 39 | Issue 2 Article 7 6-1-2012 Accounting for Emissions Trading: How Allowances Appear on Financial Statements Could Influence the Effectiveness of Programs to Curb Pollution Laura E. Souchik Follow this and additional works at: http://lawdigitalcommons.bc.edu/ealr Part of the Environmental Law Commons Recommended Citation Laura E. Souchik, Accounting for Emissions Trading: How Allowances Appear on Financial Statements Could Influence the Effectiveness of Programs to Curb Pollution, 39 B.C. Envtl. Aff. L. Rev. 475 (2012), http://lawdigitalcommons.bc.edu/ealr/vol39/iss2/7 This Notes is brought to you for free and open access by the Law Journals at Digital Commons @ Boston College Law School. It has been accepted for inclusion in Boston College Environmental Affairs Law Review by an authorized administrator of Digital Commons @ Boston College Law School. For more information, please contact nick.szydlowski@bc.edu. ACCOUNTING FOR EMISSIONS TRADING: HOW ALLOWANCES APPEAR ON FINANCIAL STATEMENTS COULD INFLUENCE THE EFFECTIVENESS OF PROGRAMS TO CURB POLLUTION Laura E. Souchik* Abstract: Cap-and-trade programs to curb carbon emissions frequently rely on the use of tradable emissions credits known as “allowances.” To date, companies' presentations of their usage of these allowances on their financial statements has not been uniform. Cap-and-trade programs will be most effective when presentation of allowances on...
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...1.1 Origin of the Report As part of the term paper of Evening Masters of Business Administration (EMBA) course requirement, we are assigned the topic “Carbon Accounting” by our course teacher for accomplishing our report. 1.2 Objectives of the report ➢ To attain the skill of report writing. ➢ To achieve deep knowledge about Carbon Accounting. ➢ To fulfill the partial requirement of our course of Accounting for Managers. 1.3 Methodology of the report This study was a descriptive research where we have been analyzed mainly secondary data to understand the Carbon Accounting and its application. All the data has gathered for report writing during term. Information collected to furnish this report is mainly from secondary in nature such as related books, journals, periodicals and Websites etc. 1.4 Limitations of the report We have tried our level best to find out the opportunity of work for overcoming the limitation but due to shortage of time, official compulsion and lack of availability of required data it was not possible to collect huge information about the topic. Other limitation is our report is mostly text based. 1.5 What is Carbon Accounting? Carbon accounting refers generally to processes undertaken to "measure" amounts of carbon dioxide equivalents emitted by an entity. It is used by nation states, corporations and individuals. It is the process of measuring, monitoring, benchmarking and reporting an organization Greenhouse Gas Emissions in a defined...
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...Western international university | Google’s Zero-Carbon Quest | MGT452 Managerial Communications | Professor Arlene Supple | Michele Bezduch | 7/18/2012 | Google’s drive to become a zero-carbon company focusing on the use of renewable and sustainable energy. The search giant has an ambitious plan to achieve its goal: becoming the world’s most enery-efficient company (Dumaine, 2012). | Each day our culture ventures deeper into a more technologically advanced society, becoming increasingly dependent upon computer systems, smart phones, and other data transfer devices. Technological forward progress requires the servers and network infrastructure to be bigger, better, and faster in order to support our insatiable need to communicate with each other. As a result, greenhouse gas emissions rise contributing to an already problematic circumstance regarding clean air, climate change, and global warming. Google CEO and co-founder Larry Page has taken action to suppress the amount of pollutants generated by his organization. According to a Fortune Magazine article entitled Google’s Zero Carbon Quest, Mr. Page’s vision is to transform Google into a company that emits zero greenhouse gas; a difficult endeavor considering Google annually emits 1.5 million tons of carbon. His operating principle was to become part of the solution instead of part of the problem by achieving the formula RE<C, which equates to renewable energy, is cheaper than coal (Dumaine, 2012). ...
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...Current insider trading law is a theoretical mess. Legal experts have described it as seriously flawed, ill-defined, inconsistent, dysfunctional, and an enigma. A recent paper posits a new theory of insider trading which may provide some coherence what is now a dog’s breakfast. For those in investment research, any improved clarity would be a godsend. Sung Hui Kim, a law professor at UCLA, released a paper last month titled “Insider Trading as Private Corruption” which argues that insider trading should be based on a corruption standard rather than the current standard of common law fraud. Kim posits a new definition of insider trading: “use of an entrusted position for self-regarding gain.” In her view, insider trading is a form of private corruption, analogous to public corruption. Current confusion In the paper, Kim applies the new standard to existing insider trading cases, including controversial cases which exemplify regulatory overreach. In SEC v. Dorozhko, for example, the SEC argued that a hacker’s infiltration of a company’s server and his subsequent trading on the extracted financial information violated federal insider trading law. However, based on precedent, the hacker would not be liable for insider trading because insider trading generally requires the breach of a fiduciary duty. Nevertheless, the Second Circuit Court of Appeals held that liability could be found—even without a breach of fiduciary duty—as long as the defendant “affirmatively misrepresented...
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...Author’s Names: Instructor’s Name: Course Details: Due Date: ECONOMICS Important lesson in ‘Munger on Profits, Entrepreneurship, and Storytelling’ The major lesson in this story has everything to do with profits. A profit is defined differently based on one’s perception and professionalism. Economists and entrepreneurs have their own definition of this term. Entrepreneurs see profit to be the extra revenue on top of the amount of capital used to produce the product and the total cost implications. Economists on the other hand view profits as the potentiality of a new idea and the opportunity cost of making the idea work in an environment where it could produce the highest revenue. The two lines of thought differ in that what the society is used to is the revenue on top of cost of production which is enhanced by the accountants but economists believe that there are errors which need to be corrected so that maximum output is realized. They believe that profits can only be achieved when errors in the society are corrected. The fact that one invests doesn’t mean that they will realize returns because probably someone else has already been in that business before. If one fails then he needs to come up with a better idea and improve on the former such is the story of Steve Jobs. He corrected his mistakes and became one of the most successful. This ensured that he made profits and this was the economist profit definition...
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...Kroger Mobile Application Kroger grocery began over 130 years ago in 1883 in Cincinnati by a man named Barney Kroger. He built his business on the motto: “Be particular. Never sell anything you would not want yourself” (“History of Kroger”, 2014). Kroger has delivered a wide variety of items for its customers since day one. These items include baked goods, a pharmacy, deli, home décor and an assortment of other goods. In the recent years Kroger has launched a mobile application for its customers. The launch has enabled Kroger to provide an even more personalized approach to shopping in its stores. Mobile Application Features As of 2012, 87 percent of the world’s population was using mobile phones (Turban, Volonino, & Wood, 2012, p. 195). Every year that number greatly increases. Therefore, it is obvious why Kroger made the decision to capitalize on the mobile opportunity. The company’s CEO, David Dillon, had reported that since the birth of the Kroger app three years ago, it had been downloaded more than two million times (Monk, 2013). The company integrated the store customer loyalty program into the application; along with making the switch to digital coupons. Every week, as new manufacturer coupons are released in the paper or online, the Kroger mobile app is updated as well. There is no need for the customers to clip coupons in the newspaper anymore. The consumer can open his or her mobile app and locate the coupon by category or name. Once the coupon is selected, it...
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...billion – The revenue can be used to invest in renewable energy, efficiency, low-carbon transportation technologies, green-collar job training etc Carbon Reduction Targets Source: “Review of Forestry Carbon Standards”, Imperial College London More on Cap & Trade • The cons: – Hard to quantify the effects of carbon emissions, hence put a price – Implementing, monitoring is a challenge – Highly political, highly manipulative Source: Members’ understanding EU-Emissions Trading Scheme (ETS) • • • • • • Largest multi-national emissions trading scheme in the world. The objective of EU-ETS is reduction of greenhouse gas emissions in a costeffective and economically-efficient manner. It currently limits CO2 emissions from approximately 12,000 facilities in the 27 EU Member States. Operational Mechanism is via the allocation and trade of CO2 emissions allowances. Long term goal - de-carbonization of EU economy Carbon trading was kick started in January 2005 Source: EU-Emissions Trading Scheme (ETS) • • • • • The emission...
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...a brief summary about the CPRS scheme in detail. In the second place, there is an analysis about major and minor financial management decisions. In the final place, the impacts of CPRS on its financial management decision will be raised. All in all, the conclusion is a summary of the aim of the essay and how to achieve this aim. The CPRS scheme The emissions trading scheme (ETS) in Australia is called Carbon Pollution Reduction Scheme (CPRS). Australia is very vulnerable to the effects of climate change. They recognize that human activity is causing the climate change and also Australia is one of the biggest polluters on a per capita basis. The CPRS will help reduce Australia’s carbon pollution by putting a price on carbon for the first time in Australia’s history. The carbon price means that goods that are emissions intensive to produce will generally become more expensive, and that emissions intensive activities will cost businesses more. The main driver of the Government's plan to reduce Australia's greenhouse gas emissions is the Carbon Pollution Reduction Scheme (CPRS). This is an emissions trading scheme which will use a cap and trade mechanism. The cap - an upper limit on the...
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...Abstract: This dissertation examines the Australian ‘Emissions Trading Scheme’ (ETS) and why it is such a fiercely debated topic in politics, industry, community groups and the general public alike. It explores the ways in which the topic of global warming and climate change has significantly altered Australia in numerous aspects and particularly investigates the Rudd Governments’ decision to introduce an emissions trading scheme. The emissions trading scheme came on the back of The Garnaut Climate Change Review which presented its draft report on 4 July 2008 (with the final report submitted in September 2008). Upon receiving the draft report, Climate Change Minister, Penny Wong, issued the Government discussion paper on emissions trading, titled Carbon Pollution Reduction Green Paper. Since this paper was released, and the recommendations stated, turbulent times for all involved has ensued. With the ETS to be made effective sometime in 2010, the government has had to fight tooth and nail in the Senate to get it (the ETS) passed in time for the scheduled deployment. In this piece, both sides of the case will be looked at and a decision on whether the proposed ETS is an effective measure to combat global warming and climate change will be presented. Is an emission trading scheme the right path to alleviate global warming for Australia? Global warming and climate change. Two terms that are constantly thrown around in the Australian media but what do they actually mean?...
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...Case Study 8 specialist Victoria University ‘Butcher’ doesn’t cut it! Try the fresh food By Helen Madden-Hallett, Elg & Robinson are about as far away from the traditional butchers’ shop image as could be. Their produce includes not only the standard meat fare, but also a diversified offering of specialty meats, poultry, wine (as part of a loyalty program), spices, smallgoods (prepared on-site) and seafood. Their bouquet specialty meats, fish and poultry selections are prepared on the premises and are purchased by a burgeoning number of professional families with dual incomes living in the area. The marketing effort underpinning this innovative approach to retailing encompasses new product lines, modern promotions, competitive pricing and a close eye on location. The creative team behind the image is a partnership between Phillip Elg and Peter Robinson. Mr Robinson explains: ‘Phillip is the director for the company, Elg Developments; and although we are both employees, we have a partnership agreement.’ The company has focused on their store in Williamstown, which has 12 employees in total. Phillip was born and bred in Williamstown, and has had a long association with businesses in particular in the area. He built The Strand, a well-known local seafood eatery, 18 years ago. Phillip was offered the current site in the concourse directly opposite a Coles supermarket (and the conduit to one of the main carparks) because of his professional training as a butcher and his expertise...
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...business which operates or would operate as a fraud or deceit upon any person, in connection with the purchase or sale of any security. SEC v. Antar, 15 F. Supp. 2d 477 (D.N.J. 1998) dealt with whether corporate insiders traded in the securities of his corporation on the basis of material and nonpublic information. The defendants participated in multifaceted fraud schemes for the purpose of artificially inflating the price of stock, selling their substantial stock holdings to an unwitting public, and profiting in excess of $20 million. The court stated that shareholders of a corporation and those insiders who obtain confidential information by reason of their position with the corporation have a relationship of trust and confidence and that trading on such information qualifies as a "deceptive device" under § 10(b). The Securities Act was...
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...profit An Interactive Research Project Report Submitted to the Faculty of AMITY BUSINESS SCHOOL AMITY UNIVERSITY UTTAR PRADESH by Aamir Malik(B 43) Anuj Dubey(B 55) MBA (G) 2013-2015 October 2013 __________________________________________________ INDEX S.No | Topic | Page No. | 1. | Acknowledgement | 4 | 2. | Abstract | 5 | 3. | Introduction | 5-6 | 4. | How carbon credit Trading works | 7 | 5. | Global Scenario | 8 | 6. | Analyzing Indian Scenario | 9 | 7. | Benefits for India | 10-11 | 8. | Financing Up port in India | 11-12 | 9. | Business Mechanism and Carbon exchange | 12-13 | 10. | CDM process and carbon Trading | 14 | 11. | Accounting and Tax treatment In different Countries | 15-17 | 12. | CASE 1: Buddhil Hydro Electric Power Ltd. | 18-20 | 13. | CASE 2: Greenply Industries Ltd. | 21-22 | 14. | CASE 3: Reliance Power | 23 | 15. | Future Of Carbon Trading | 24-25 | 16. | Conclusion | 26 | 17. | References | 27 | ACKNOWLEDGEMENT I have taken efforts in this project. However, it would not have been possible without the kind support and help of many individuals and organizations. I would like to extend my sincere thanks to all of them. I am highly indebted to Ms. Lakhwinder Kaur Dhillon Mam for their guidance and constant supervision as well as for providing necessary information...
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...Petrie's Electronics Case, Chapter 5, Questions 1, 3, and 5. 1. What do you think are the sources of the information Jim and his team collected? How do you think they collected all of that information? Jim collected informations by having interviews inside the company with stakeholders. He also worked with the marketing department to get some information from loyal customers. Jim and his team gathered some information about the current system. 3. If you were looking for alternative approaches for Petrie’s customer loyalty program, where would you look for information? Where would you start? How would you know when you were done? An alternative approach could be researching many different sources. If it were me I would do my research through the internet and compare what I find to the current system used by the customers. I guess the obvious reason to know when you are done is because you can’t find or come up with any new information about the loyalty systems. 5. Why shouldn’t Petrie’s staff build their own unique system in-house? I think it would cost much more and will be much more time consuming. The better thing to do is use an outsource instead of building in-house, that way they are saving money and getting what they want a lot faster. Petrie's Electronics Case, Chapter 6, Questions 1 and 5 1. Are the DFDs in PE Figures 6-1 and 6-2 balanced? Show that they are, or are not. If they are not balanced, how can they be fixed? It looks like they are balanced...
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...1.) Because of the fact thatBL Gupta revealed the undisclosed profits of Goldman Sachs to another person, he is being tried for insider trading. The undisclosed profits of Goldman Sachs could affect the value of its stock. If the profits were up, then Raj would have been able to buy stock and then when the profits were announced, would be able to sell it and make money. If Raj already had stock, then he could have sold it then, and wouldn’t incur the loss if Sachs’s profits went down. He could have also used this information to gain investors, if it happened to be that they were competitors, and that Goldman Sachs’s profits were down. So it seems that giving out the undisclosed profits for Goldman Sachs’s could have indeed affected the future value of the stock, and is therefore deemed as insider trading. 2.) In Federal courts, you’re being sued for criminal actions, while in Administrative you’re tried for not complying by the rules. If there wasn’t a huge event, then administrative would be much easier to go through, because you do not have a jury. The SEC filed a public administrative proceeding against Gupta, which is determined under SEC rules, not the federal laws of civil procedures. All of these factors would have led up to Gupta losing his case, however, he managed to get the case into Federal courts instead of administrative. 3.) Gupta might have some defense, because he could claim that the revelation of the profits made was not “material”. He could...
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...Climate Change and Corporate Environmental Responsibility Dewan Mahboob Hossain (1) Jahangir Alam Chowdhury (2) (1) Dewan Mahboob Hossain Assistant Professor Department of Accounting & Information Systems University of Dhaka, Dhaka, Bangladesh Email: dewanmahboob@univdhaka.edu (2) M. Jahangir Alam Chowdhury, PhD (Stirling, UK) Professor, Department of Finance, and Executive Director Center for Microfinance and Development University of Dhaka Dhaka - 1000, Bangladesh. Email: mjac_dubd@yahoo.com Introduction Abstract Climate change, as an international environmental issue, is getting a lot of attention. The negative effects of climate change have become one of the most talked about issues among Governments, scientists, environmentalists and others. It is said that business activities are affecting the climate negatively. In order to minimize the negative effects of climate change, the activities of the businesses should be controlled and encouraged to perform in a socially responsible manner. The article focuses on the responsibilities and the responses of businesses on climate change issues. The article first highlights on two prominent issues: Corporate Social Responsibility and Corporate Environmental Responsibility. Then the article introduces climate change as an international environmental concern. Then, by going through several published literature, the article highlights various responsibilities of business towards climate...
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