Like it or not, the need to count carbons is going to be a business requirement for just about everybody.
As a comprehensive energy bill moves through Congress and the Environmental Protection Agency looks to assert more authority over the matter, it seems clear that the U.S. will soon be joining most of the rest of the world when it comes to counting carbons. And if your company does business overseas, chances are good that you've already encountered some fairly strict carbon emmission requirements.
From a business perspective, all these requirements create a need to account for carbon. After all, companies are going to be issued credits for carbon emissions. Those credits are basically corporate assets, and like all assets, they need to be accounted for.
Unfortunately, most existing accounting systems do not have any provisions for counting carbons. To address this issue, FinancialForce.com, a provider of accounting software that is delivered as a service, has teamed up with CloudApps, a provider of software that is used to actually track carbon emissions.
As both companies make their software available via the Force.com cloud managed by Salesforce.com, FinancialForce.com CEO Jeremy Roche said the partnership between the two companies was almost inevitable.
Roche says that while many companies have dedicated compliance and sustainability officers, it's also becoming clear that accounting organizations are going to play a major role, especially once carbon exchanges, in which companies buy and sell carbon credits, are more prevalent.
And given the fact that most businesses are loath to rip and replace their existing accounting systems, Roche sees this new requirement as an opportunity to deploy FinancialForce.com alongside existing accounting systems to handle carbon accounting tasks. Meanwhile, rival vendors, such as Oracle, obviously see the carbon accounting rules as an opportunity to sell additional software.
No matter how you feel about global warming, more regulations are coming into force. So rather than trying to cope with a hard deadline later, maybe now is the time to start putting the right systems in place so it appears that this is something your company is proactively doing, versus something the company is being forced to comply with later on.