EPA Carbon Reporting Scheme To Benefit More U.S. Firms, Says Expert

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New York, NY (AHN) - More U.S. firms will benefit from the proposed national carbon reporting system of the U.S. Environmental Protection Agency (EPA), according to a group that gathers carbon emissions data from major corporations around the world.

“There is clear evidence through current reporting of carbon emissions of the S&P500 companies in the U.S. that the process of collecting data for reporting is a vital first step in driving emissions reductions,” said Carbon Disclosure Project Chief Executive Officer Paul Dickinson in a press release.

“Those who have a clear greenhouse gas management strategy will be well positioned to benefit from the associated cost savings and new huge new revenue opportunities that low carbon solutions and technologies provide,” Dickinson said.

In 2008, the CDP gathered data from more than 2000 corporations including Wal-Mart, Cisco and Coca-Cola.

On Wednesday, EPA announced plans to establish a nationwide system for reporting greenhouse gas emissions to establish a basis for capping carbon dioxide buildup to address global warming. About 13,000 facilities accounting for 85 to 90 percent of the U.S. greenhouse gas output will be covered by the registry plan.

“Through this new reporting, we will have comprehensive and accurate data about the production of greenhouse gases. This is a critical step toward helping us better protect our health and environment — all without placing an onerous burden on our nation’s small businesses,” said EPA Administrator Lisa P. Jackson in a statement, according to Washington Post.