Australian Carbon Policies Essay Example | Topics and Well Written Essays - 2750 words

Australian Carbon Policies - Essay Example It supports a reporting system on carbon emissions and is the most conspicuous regulation of carbon emissions in use to date. The Australian parliament did introduce a system for controlling the renewal of energy by passing the amendment on the energy targets. It provides that renewable sources of energy will produce approximately 20% of the nation’s electric power by the year 2020 (McKinsey, 2007). 1.1 The Current Legislation for Reporting Carbon Emission Data Since the beginning of the month of July in the year 2008, the Australian government did require that organizations provide precise information about their greenhouse emissions (Unerman, 2007). The state’s legislative body did pass a law for regulating the reporting of emissions from greenhouses under the 2007 act on National Greenhouse reports. The administrators of this piece of legislation are the climate change department. The challenges coming from greenhouse emissions are under the regulation of the Water, Environment, Heritage and Arts division of the government (McKinsey, 2007). The government and various industries across the nation did take a deliberate initiative to regulate the number of emissions through the Greenhouse challenge plus scheme. ... This tax is payable by the large companies that are responsible for the emissions in the environment. It suggests that companies producing more than twenty five thousand tons of carbon should pay a total of twenty three dollars for each ton they produce. The tax proposal has the purpose of providing effectiveness in reducing the costs that the regime incurs in fight against greenhouse emissions (Schaltegger, Burritt and Petersen, 2008). These taxes do assist the administration in collecting information about the major emitters who do not pay up for their mistakes. The finances that come from this tax are usually put to the use of improving public institutions such as hospitals. This proposal does assist the administration in knowing the big carbon emitters within their economies. It also helps the leaders in knowing the amount of carbon emissions in their environment (Gray, 2000). 1.3 The Relationship between the Current and Proposed Carbon Policies and Environmental Management Accou nting. The use of environmental management accounting involves the application of the regular methods of identification, analyzing, managing and reduction of costs. This is done in ways that will benefit both the companies and their surroundings. This form of accounting is useful in identifying the matters affecting the implementation of the policies which aim at reducing the amounts of carbon emissions. These matters include the health crisis and safety problems that arise as a result of the emissions and the ignorance of the companies to the legislation (Gray, 2000).