New impact accounting framework unveiled with $236 cost of carbon.

TLDR:

• An impact accounting framework has been released with a cost of $236 per tonne of carbon.
• The International Foundation for Valuing Impacts has published draft methodologies on greenhouse gas emissions and adequate wages.

The International Foundation for Valuing Impacts has released an impact accounting framework, with a cost of $236 per tonne of carbon. This framework includes two draft methodologies, one on greenhouse gas emissions and the other on adequate wages. The foundation aims to provide a standardized way for companies to account for the impacts of their operations.

Daniel Osusky, a representative from the Value Balancing Alliance, stated that the framework is a step towards a more sustainable and transparent accounting system. He emphasized the importance of companies understanding the full impact of their activities, including the social and environmental costs.

The release of this framework comes at a time when there is increasing pressure on companies to reduce their carbon footprint and address social issues such as fair wages. The $236 per tonne cost of carbon provided in the framework is significant, as it gives companies a clear monetary value for the environmental impact of their emissions.

In conclusion, the impact accounting framework released by the International Foundation for Valuing Impacts marks a significant step towards standardizing how companies account for their social and environmental impacts. It provides a concrete cost for carbon emissions, emphasizing the need for businesses to take responsibility for the true cost of their activities.