• Contact Us
  • E-Learning
  • Online Store
  • Log In
Chartered Accountants Worldwide Network USAChartered Accountants Worldwide Network USAChartered Accountants Worldwide Network USAChartered Accountants Worldwide Network USA
  • About
    •  
      • About Us
    •  
      • Chapters
    •  
      • About Us
      • Practice Team Leads
      • Chapters
      • Reciprocity
      • Partners & Sponsors
  • Member Organizations
    •  
      • Member Organizations
      • Institute of Chartered Accountants in England and Wales (ICAEW)
      • Institute of Chartered Accountants Scotland (ICAS)
      • Chartered Accountants Ireland (CAI)
      • South African Institute of Chartered Accountants (SAICA)
      • Chartered Accountants Australia & New Zealand members in the United States
      • The Institute of Singapore Chartered Accountants
    •  
      •  
      • The Institute of Chartered Accountants of Bangladesh
      • The Institute of Chartered Accountants of India
      • Institute of Indonesia Chartered Accountants
      • Chartered Institute of Accountants in Malawi
      • The Institute of Chartered Accountants of Nigeria
      • CPA Canada
    •  
      •  
      • The Institute of Chartered Accountants of Pakistan
      • The Institute of Chartered Accountants of Sri Lanka
      • Zambia Institute of Chartered Accountants
      • The Institute of Chartered Accountants of Zimbabwe
  • Beyond Accounting
    •  
      • Highlights From the Past Beyond Accounting Events
    •  
      • Beyond Accounting Webinars on Demand
    •  
      • Beyond Accounting Series
      • Upcoming Events
      • Highlights From the Past Events
      • Recorded Webinars
  • What’s on
    •  
      • Upcoming Events
    •  
      • Webinars on Demand
    •  
      • Podcasts
  • Insights
    •  
      • Beyond Accounting
      • Climate Change
    •  
      • Sustainability & SDGs
      • Wellness
    •  
      • Explore all Insights
      • Covid-19 – Global Recovery
      • Digital Disruption
      • Diversity & Inclusion
      • Economics
      • Ethics
      • Global Trade
      • Leadership
      • Philanthropy
      • News
      • Polls
  • Jobs
  • Contact us
  • E-Learning
  • Online Store
  • Log in
  • About Us
    • Practice Team Leads
    • Chapters
    • Reciprocity
    • Partners & Sponsors
  • Member Organizations
    • Home Institutes
    • CA Institutes
  • Beyond Accounting
    • Upcoming Events
    • Highlights from the Past Events
    • Webinars On Demand
  • What’s on
    • Upcoming Events
    • Webinars on Demand
    • Podcasts
  • Insights
    • Beyond Accounting
    • Climate Change
    • Covid-19 – Global Recovery
    • Diversity & Inclusion
    • Economics
    • Ethics
    • Global Trade
    • Leadership
    • Philanthropy
    • Sustainability & SDGs
    • Wellness
    • News
    • Polls
  • Jobs
  • Contact us
  • E-Learning
  • Online Store
  • Log In
0

$0.00

✕

Another step towards more accurate sustainability reporting

Another step towards more accurate sustainability reporting

IN BRIEF

  • Researchers from the fields of accounting and botany have developed an empirical equation to calculate carbon sequestration of trees
  • The research compares data gathered 25 years ago with more recent measurements of a variety of tree species in the Royal Botanic Gardens Melbourne
  • This is the first study of its kind in an Australian urban environment.

 

Sustainability reporting is becoming increasingly important. Most of the world’s largest 250 companies now periodically produce sustainability reports on which auditors provide assurance.

As much as 45 per cent of the world’s carbon is stored by trees and many companies seeking to offset their carbon footprint choose to plant trees. One of the main challenges for accountants, however, is accurately calculating carbon sequestered by such programs.

To better understand how to capture, manage and report on carbon sequestration, researchers from the University of Melbourne’s departments of botany and accounting collaborated with the Royal Botanic Gardens Melbourne (RBGM). They drew on more than 25 years of tree data to develop carbon capture models for different tree species and ages.

Chartered Accountants Australia New Zealand supported the project, which was the first comprehensive study of its kind in an Australian urban environment.

Through their analysis, researchers led by Associate Professor Brad Potter created an empirical equation that accountants can now use to more accurately calculate carbon capture as trees grow and significantly reduce errors.

This empirical equation is available for any accountant to use and will underpin all future carbon reporting, providing greater opportunities for higher levels of assurance to emerge in the future.

The project also demonstrates the tangible benefits of collaborating across disciplines. Collaboration enhances accountants’ ability to report more accurately on the impact of activities that aim to tackle some of the world’s biggest challenges, such as living sustainably and addressing climate change.

Links

  • Trees, carbon & sustainability – An empirical model of carbon sequestration in the Royal Botanic Gardens Melbourne
This content was first published by Chartered Accountants Australia and New Zealand. The original content can be viewed by clicking here.

Newsletter Subscription

  • About Us
  • Member Organizations
  • Membership
  • Contact
  • E-Learning
‘Chartered Accountants Worldwide’ ® is a registered US trademark number 4705697, and ‘CAW’™ is an unregistered mark, in each case used under license from Chartered Accountants Worldwide Limited (England).

Privacy Policy | Chartered Accountants Worldwide
✕

Login

Lost your password?

Cookie Policy
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
.
Cookie settingsACCEPT
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT