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The Importance of Carbon Accounting for a Sustainable Future

In today’s rapidly evolving business landscape, the role of carbon accounting has never been more crucial. It extends beyond mere compliance as a strategic tool driving innovation, enhancing impact, and fostering business growth. At Synectic, we recognise the transformative power of carbon accounting and are excited to share its significance with you.

Why Carbon Accounting Matters

Carbon accounting lies at the heart of achieving a sustainable future. It empowers businesses to not only meet regulatory requirements but also to proactively manage their environmental, social, and governance (ESG) impacts. In an era where climate change poses significant risks, adopting ESG practices and transparent reporting is essential for business resilience and longevity.

Governments worldwide are setting ambitious targets for reducing emissions. For instance, Australia aims to cut emissions by 43% by 2030 and achieve net-zero emissions by 2050. Such goals necessitate the involvement of every business, regardless of size, in reducing their carbon footprint.

Impact on Businesses

The upcoming decade will witness a profound shift in risk perception, with environmental risks projected to dominate the global landscape. Businesses must prepare by integrating sustainability reporting and assurance standards into their operations. New regulations will mandate some businesses publish detailed disclosures of climate-related risks, enhancing transparency and accountability.

Moreover, as large corporations demand more from their supply chains, businesses can leverage carbon accounting to differentiate themselves and gain a competitive edge. Those adept at ESG practices stand to benefit most.

Unlocking Competitive Advantage

Carbon accounting isn’t just about compliance; it’s a gateway to strategic advantages. Tasmanian-based organisations, for example, have a unique opportunity to showcase their sustainability efforts. By understanding their carbon footprint and aligning with global standards, businesses can access new markets, secure investments, and strengthen their brand reputation.

Where to Start

Embarking on the journey of carbon accounting may seem daunting, but it all starts with understanding your baseline emissions. Synectic offers comprehensive support through our tailored services, leveraging global standards and robust platforms like Sumday to ensure accurate data capture and analysis. From measuring emissions to strategising reduction projects, we’re committed to guiding businesses every step of the way.

Conclusion

As we navigate a future shaped by climate action, carbon accounting emerges as a strategic imperative. At Synectic, we’re excited to partner with you on this journey towards sustainability, offering expertise and solutions to meet your carbon accounting needs effectively. Together, we can build resilient businesses and contribute to a sustainable future for generations to come.

Picture of Claire Connelly

Claire Connelly

Principal - Assurance and Advisory Services at Synectic. Claire has almost 20 years’ experience across the private and public sectors and is a volunteer NFP board member. She is passionate about business performance and cares deeply about strong and empathetic leadership.
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About Synectic Wealth Synectic

Wealth Pty Ltd is the financial services division of the Synectic group of accountants, auditors, business advisers, self-managed super fund (SMSF) specialists, and financial advisers. We are based in Devonport, Launceston and Hobart and provide services across Tasmania.

 

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