Photo via Go Walkabout
Even though Australia's cap and trade plans have been stalled, a vast majority of Australian businesses are gearing up for it to pass--and they've set about making some changes for the greener. 74%, for instance, have laid out plans to reduce their carbon footprint, and 62% have invested in cleaner technologies. That's a pretty impressive chunk of Australia's business world--especially since only 15% of the companies said they actually understood the cap and trade.
The government wants to introduce carbon trading in 2011 as part of a policy that seeks to cut emissions of greenhouse gases by between 5 percent and 15 percent of their 2000 levels by 2020. Just 15 percent of businesses said they understood the carbon pollution reduction scheme, which is yet to be approved by Australia's upper-house Senate.Well, they might want to look into that . . . though the companies apparent determination towards reducing their environmental impact is encouraging nonetheless.
"Businesses have begun to take active steps to measure and manage their carbon footprints," AI Group Chief Executive Heather Ridout said in a statement. The study also shows that "businesses are not yet well informed about the commonwealth government's CPRS [carbon pollution reduction scheme]."Indeed, it seems strange how the numbers add up: around 75% are already making plans to reduce carbon because of an incipient law that will require them to do so, yet only 15% actually understand what that law is? Something seems amiss--and it could be the figures (which come from an unnamed survey in a Bloomberg report), which might show an eagerness by the companies to demonstrate their willingness to comply. Or it could be that Australian companies are simply growing more committed to sustainability in general. Or it could mean the companies have some reading to do.
PS: If any of you Australian businessmen (or anyone else, of course) out there want a 4 minute rundown on how cap and trade works, here 'tis.