Environmental Accounting
Will this be our energy future?
“Over 75% of the global increase in energy use from 2007-2030 is expected to be met through fossil fuels, especially coal, and an estimated 77% of the power stations required to meet demand are yet to be built.” World Economic Forum, Global Risks 2011.
Top Coal Companies In India * Coal India Limited * Singareni Collieries Company Limited * Neyveli Lignite Corporation
Areas which create Responsibilities
Coal projects have numerous environmental and social costs that need to be fully accounted
Without accounting for all associated costs, an effective evaluation of viable alternatives is impossible.
The Energy Strategy must provide for full cost accounting for coal and other energy Industry
Life cycle Cost Analysis which is very important issue for Coal Industry (for mining, processing, transportation, combustion, and storage).
Adequate energy planning requires an accurate assessment of coal reserves
Life Cycle Cost of Coal * Each stage in the life cycle of coal (extraction, transport, processing, and combustion) generate a waste stream and carries multiple hazards for health and the environment. * These costs are external to the coal industry and are thus often considered “externalities”. * A Study show that the life cycle effects of coal and the waste stream generated are costing the U.S. public a third to over one-half of a trillion dollars annually. Accounting for the damages are helping to increase the price of electricity from coal than the other process
Functions of Cost Accountants: * Life Cycle Cost analysis to reduce Hidden cost * Conduct a economic analysis through various costing procedure to minimize cost. * Cost Benefit Analysis: Show that benefits are equal to or outweigh costs, and that the benefits are equal to or greater than the alternatives. * Reforming the structure of credits and taxes to remove misaligned incentives.
“Over 75% of the global increase in energy use from 2007-2030 is expected to be met through fossil fuels, especially coal, and an estimated 77% of the power stations required to meet demand are yet to be built.” World Economic Forum, Global Risks 2011.
Top Coal Companies In India * Coal India Limited * Singareni Collieries Company Limited * Neyveli Lignite Corporation
Areas which create Responsibilities
Coal projects have numerous environmental and social costs that need to be fully accounted
Without accounting for all associated costs, an effective evaluation of viable alternatives is impossible.
The Energy Strategy must provide for full cost accounting for coal and other energy Industry
Life cycle Cost Analysis which is very important issue for Coal Industry (for mining, processing, transportation, combustion, and storage).
Adequate energy planning requires an accurate assessment of coal reserves
Life Cycle Cost of Coal * Each stage in the life cycle of coal (extraction, transport, processing, and combustion) generate a waste stream and carries multiple hazards for health and the environment. * These costs are external to the coal industry and are thus often considered “externalities”. * A Study show that the life cycle effects of coal and the waste stream generated are costing the U.S. public a third to over one-half of a trillion dollars annually. Accounting for the damages are helping to increase the price of electricity from coal than the other process
Functions of Cost Accountants: * Life Cycle Cost analysis to reduce Hidden cost * Conduct a economic analysis through various costing procedure to minimize cost. * Cost Benefit Analysis: Show that benefits are equal to or outweigh costs, and that the benefits are equal to or greater than the alternatives. * Reforming the structure of credits and taxes to remove misaligned incentives.