ABSTRACT
In the context of the need for reduction of carbon dioxide (CO2) or carbon dioxide equivalent (CO2eq) emissions by business, a number of new approaches have been introduced which highlight benefits from linking climate change and corporate opportunities. One of the approaches is the clean development mechanism (CDM), which holds considerable promise to help reduce the impacts of global warming while bringing income to businesses. The design of a CDM project involves the survey, analysis, and supply of site-specific information to meet registration, monitoring, and reporting requirements. Most of these issues have already been explored in the context of environmental management accounting (EMA) (Burritt, Hahn, and Schaltegger 2002); however, as yet EMA has not been referred to in the discussion of CDM projects. Links between CDM and EMA are explored here through a Philippine case study. The study illustrates how EMA helps companies to secure carbon credits by means of biomass energy production through environmental and financial assessment of potential investment in a CDM project.
