Date posted: 17/05/2023

CA ANZ launches Carbon Accounting FAQs

A new Chartered Accountants Australia and New Zealand (CA ANZ) publication addresses frequently asked questions (FAQs) arising in the evolving area of carbon accounting, and links to practical resources to assist climate-related accounting activities.

In brief

  • Carbon and climate-related accounting practice is evolving fast
  • Accountants are applying their accounting skills and experience to climate-related issues
  • These FAQs can assist members to be better placed to engage in carbon accounting.

Carbon and climate-related accounting practice is evolving fast. Approaches and terminology are rapidly changing, as are the aspirations and expectations of accountants applying their accounting skills and experience to climate-related issues. 

As accountants tackle carbon accounting and the many varied and evolving approaches and terminologies, this has prompted them to ask many questions.  To address these, and contribute to the carbon accounting community of practice, CA ANZ has published a set of FAQs. 

“Members are asking us all sorts of questions connected to carbon accounting; from ‘how do I account for carbon offsets’, ‘what’s the difference between net zero and carbon neutral’ to ‘what are my obligations to prevent greenwashing and everything in between” says Karen McWilliams FCA, CA ANZ Sustainability and Business Reform Leader.  “While often there aren’t definitive answers, in these FAQs we explain the issue and where relevant link members to practical resources for a deeper dive.”

“While often there aren’t definitive answers, in these FAQs we explain the issue and where relevant link members to practical resources for a deeper dive.”
Karen McWilliams FCA, CA ANZ Sustainability and Business Reform Leader

Issues covered in these FAQs include activities designed to measure, track and report greenhouse gas (GHG) emissions by organisations, measured as carbon dioxide equivalent (CO2-e), and related concepts such as carbon credit/offset.  They also address member specific questions such as how to avoid greenwashing, and interaction of the Code of Ethics and the carbon accounting landscape.

These FAQs are designed as a starting point on the journey. Many FAQs relate to emerging and evolving issues, and responses are based on information available at the time of publication. CA ANZ will update the FAQs as new questions, responses and valuable resources emerge. 

To continue the conversation with other Chartered Accountants and read CA ANZ’s weekly update – Sustainabites - join the Climate and Sustainability group on My CA (member login required).

If you have suggestions for more questions, responses or just a different perspective please let us know at [email protected].

Climate

The accounting profession has a significant role to play in climate change mitigation and adaptation.

Find out more

Tools and Resources – Sustainability

Practical guidance to assist you in sustainability and environmental, social and governance (ESG).

Find out more

Sustainability micro courses

Learn more about sustainability and register for CA ANZ’s micro course.

Find out more