ACCOUNTING FOR CLIMATE CHANGE – WHAT AND HOW TO MEASURE PROCEEDINGS EDITORS:

Accounting for climate costs: What and how to measure? There is growing evidence and scientific consensus about global warming. Companies are increasingly being challenged by uninsurable risks from unpredictable weather conditions as well as new governmental regulations, like the EU Emission Trading System, carbon taxes, building codes and energy efficiency standards. At the same time, new business opportunities can arise from energy efficiency innovations, product developments, new business models and other mitigation and adaptation initiatives. This conference is the first to provide a forum for systematically accounting for the business costs of these challenges and for analyzing the role of accounting in developing economic business potential. The conference will focus on the assessment of business costs and benefits arising from climate change as well as mitigation options. There is wide knowledge of these climate related costs (Stern review 2006) and mitigation costs (McKinsey report 2007) at an economic level. The above-mentioned studies, however, focus mainly on the macroeconomic level. Surprisingly little coverage can be found of the costs to business of climate change or mitigation policy. The costs are real though, and are discussed in non-scientific forums such as insurance compan