Notwithstanding the anticipated enactment of new climate change laws, the EPA now requires certain companies to report greenhouse gas emissions effective 1 January 2010.

How will climate and energy policies impact the economy, national security and the environment?

Carbon emissions management is becoming an increasingly important strategic objective. US lawmakers are focused on the issue, and additional legislation may be coming.

To stay ahead of the curve, companies must fully embed carbon considerations into their business strategy to ensure climate change issues are properly addressed. This includes:

• risk management operations
• day-to-day business
• accounting
• tax planning.

The challenge will be to harmonize the various reporting frameworks that are used to avoid questions concerning discrepancies later.

It is also important to incorporate public perception of GHG emissions into the overall business plan and properly report emissions from a tax and financial disclosure perspective.

Companies can benefit from alignment of their products/services with their customers, suppliers, neighbors, regulators and employees to increase enterprise value. This involves a gap analysis, not just for regulatory deficiencies, but for the environmental sustainability of the business. By taking a holistic approach to carbon management, your company will be in the best position to capitalize on opportunities.