Sphera’s article on Environmental Accounting was featured in the spring/summer edition of EHS Daily Advisor’s Safety Decisions magazine.
As Jeff Ladner, Sphera’s vice president of Environmental Performance, wrote in the article: “The EPA explained in its 2014 primer on the topic that Environmental Accounting has many meanings, but, for the agency’s purposes, it defines the term as a ‘managerial accounting tool for internal business decisions.’ Subsequently, the EPA stated that ‘environmental cost’ has two meanings of its own: the ‘private’ cost to a company’s bottom line and the ‘societal’ cost to individuals, society and the environment.”
Many companies, Ladner explained, rely on spreadsheets, desktop databases and homegrown solutions to track environmental performance data, but those types of tools are “woefully” inadequate for true Environmental Accounting, especially for companies in highly regulated fields.
To read the article, please visit EHS Daily Advisor’s website. To learn more about Environmental Accounting, please contact us.