Differences Of Carbon Accounting In UK And Russia

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Introduction:
This paper introduces the existing state of carbon accounting in profit organisations in UK and Russia, and critically analyse the differences of carbon accounting policies applied in two countries. To better identify the issue, BG Group (in UK) and Gazprom (in Russia) are chosen as examples to compare the differences of measurement and disclosure on carbon emissions and greenhouse gas related activities. In the end, the motivations to improve the quality of disclosure are analysed.
Carbon accounting in UK and Russia:
UK established the Climate Change Act in 2008 which is first legally binding target on climate change in the world. The aim of the act is to reduce greenhouse gas emissions at least 80% before 2050(Committee on
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Gazprom also submits its annual GHG emissions results to Roshydromet – a ‘Russian Federal Service for Hydrometeorology and Environmental Monitoring’ for planning the Russian Federation’s national GHG emissions inventory (Gazprom 2015, p.23). Moreover, Gazprom has to submit information documents to the National Communications of the Russian Federation (Gazprom 2015, p.23). According to the requirements of Kyoto protocol, both BG Group and Gazprom submit information documents to the UNFCCC. Also, both companies have been participating in Carbon Disclosure …show more content…
Such as: The Russian State Environmental Protection Program 2012–2020: The Gazprom Environmental Policy is the major environmental protection guideline, which determines the company’s both compulsory and volunteers objectives and liabilities in terms of prevention and reduction of negative environmental impact, as well as defines the implementation mechanisms (PJSC Gazprom, 2015). Results of quantitative assessment of its annual greenhouse gas emissions: In 2015, the Russian Ministry of Natural Resources and Environment approved the methodology and guidelines for GHG emissions quantification by organizations operating in the Russian Federation (Ccgs.ru, 2016). This document has been developed to indicate specific (per unit of produce) and relative (compared to the base year) level of GHG emission reduction from corporate carbon reporting requirements. Action Plan to reduce GHG emissions until 2020 and 2030: According to the action plan, from 2017 onwards all organizations with total annual emissions of over 50,000 tCO2e will be required to disclose GHG emissions, including direct and energy indirect emissions (Ccgs.ru, 2016). Moreover, in order to implementing the action plan, Russian Government also approved the concept of the GHG emission monitoring, reporting and verification system in the

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