And in the meantime discussions on sustainable cost accounting suggest that it is being noticed. The awareness that the sustainability reporting being proposed at COP 26 will fall far short of real need is increasing as investors realise that knowing how much carbon a company produces does not indicate how the problem will be solved, or what the cost of doing so might be. Despite this the government seems wedded to this approach that will fall so far short of investor needs, and those of society. I am being encouraged to write an alternative accounting standard on this issue and that is requiring some thought.
Have a carbon tax. That puts emissions into all market prices. Corporate accounts are compiled from market prices. Job done.
Of course, that doesn’t get me a one day a week job from Copenhagen Business School for the next four years so perhaps someone would care to just give the cash up front right now?