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Carbon emissions to emerge as assurance standard

A recent PricewaterhouseCoopers (PwC) report on the carbon emission performance of the world’s largest 500 companies may be an indication of an emerging assurance standard.

The carbon disclosure project 2010 report allows a company’s performance and the direct financial implications of carbon and climate change to be assessed against one standard.

PwC UK partner in sustainability and climate change practice Alan McGill said that credible assurance standards would eventually have to emerge because of the direct financial impact that climate change and carbon emissions have.

An increase in public and investor interest in company carbon emissions data is also thought to be an influencing factor in the need for assurance standards.

Further indication that an assurance standard is in the pipeline can be drawn from the Australian government’s conclusion that assurance reporting by a registered auditor is appropriate due to the financial implications of the issue.

 

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