View event podcasts for expert views on accounting for carbon:
Philippe Lamberts MEP
- Henry Derwent, IETA
- Henning Drager, ACCA
- Professor Carlos Larrinaga, Universidad de Burgos
- Alan McGill, PwC
- Chris Lenon, Rio Tinto
- Peter Olajos, Ministry of National Development, Hungary
hot air or real value? accounting for carbon
Philippe Lamberts MEP, hosted a multi-stakeholder roundtable in the European Parliament on trading and accounting of carbon emissions in the EU ETS. hanover, ACCA and IEATA welcomed over 100 key stakeholders at this exciting event which provided an excellent platform for lively debate and exchange of views. Discussion focused on how large emitters should account for emission allowances and how a uniform regulatory framework could form to ensure efficient and effective practices.
A joint report by ACCA and IETA on how large emitters in the European Emissions Trading Scheme (EU ETS) are currently accounting for emission allowances provided the basis for the debate. The report presents the diversity of emission allowance accounting practices used in EU Member States and suggests that carbon financial accounting is still in its formative stage.
Attendees were encouraged to share their views on the topic and challenge the panel with thought-provoking questions after a key address by Peter Olajos, Deputy State Secretary for Green Development and Climate Change, Hungary and presentations by a panel of high-profile experts.
The direction of the debate suggested that accounting for carbon is paramount in maintaining stakeholders’ trust in carbon markets and an important tool for the mitigation of climate change. The overarching consensus during the debate was that a clear regulatory framework for the financial accounting is necessary for reducing carbon emissions and achieving real results, while making sure businesses can remain competitive.