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CONTEX LIMITED

ACTIVITY 1 Briefly discuss the 4 different methods of determining Scope 1 emissions and why the first method is most appropriate for Contex. (2Marks). 1. Method 1; in this type of measurement a class of estimation processes used in the department of climate and energy efficiency are directly applied. It is also internationally adopted in the UN framework Convention on climate. Used where the source is homogenous for instance use of fossil fuels with a similar amount of emission on their combustion across most facilities. 2. Method 2; this is where the corporations use industrial sampling under Australian/International standards used in determination of the actual analysis of fuels and raw materials providing more accurate estimations at the facility level. It is mostly used to benchmark the chemical analysis procedures for instance their carbon content of coal, petrol diesel and other fuels. 3. Method 3; this is a facility specific method strict to the use of either or both the Australian / and International Standards in determination of emissions during sampling or analysis of fuels and raw materials. It also considers the documentary standards. 4. Method 4; direct monitoring to estimate emissions arising in an activity this is usually done on either a continuous as periodic basis. Its accuracy depends of the type of process in which the activity produces the emissions. Method 1 is the most appropriate for Contex Ltd as most of the fuels used in the company are a specific energy content factor, this guarantees more accurate results and the method can be used for a longer time consistently. ACTIVITY 2 Briefly explain Scope 2 emissions and how Scope 2 emissions from electricity purchased from the main electricity grid in NSW, Victoria and Queensland are calculated. Scope 2 emissions are the emissions resulting from the generation of electricity, heating, cooling or steam purchased and consumed by Contex Ltd for use in its day to day activities. These emissions occur at the power generation station away from the Contex Ltd facilities. Since method 1 is the most appropriate to calculate the scope 2 emissions from electricity purchased from the main electricity grid in NSW, Victoria and Queensland it can be used to calculate that amount in Contex Ltd. The procedures in calculating scope 2 emissions using method 1 is as follows. The main formula is;

Y=Q (EF1000) Where: Y= scope 2 emissions measured in CO2-e tonnes. Q=is the quantity of electricity purchased from the electricity grid (NSW, Victoria and Queensland) during the year and consumed from the operation of the facility in kilowatt hours (kWh). EF=is the scope 2 emission factor, in kilograms of CO2-e emissions per kilowatt hour for NSW, Victoria or Queensland. NB: i. For a facility the operation of which is constituted by an electricity transmission network or distribution network, Q is the quantity of electricity losses for that transmission network or distribution network during the year. For Q, if the electricity purchased is measured in gigajoules, the quantity of kilowatt hours must be calculated by dividing the amount of gigajoules by 0.0036. The following table shows the EF for NSW, Victoria and Queensland territories;

ii.

Item State, Territory or grid description Emission factor kg CO2-e/kWh 77 New South Wales and Australian Capital Territory 0.89 78 Victoria 1.21 79 Queensland 0.88 (Department of Climate Change and Energy Efficiency; National Inventory Report,, 2001) Using this information, complete the table below to calculate Contex Scope 2 emissions. (1 Mark). GHG Source Quantities used Calculation Emissions tonnes CO2-e

Scope 2 Indirect Energy Purchased electricity - 2,000,000 kWh NSW Purchased electricity - 1,000,000 kWh Victoria Purchased electricity - 250,000 kWh Queensland

2000000(0.891000) 1780 1000000(1.211000) 1210 250000(0.881000) 220

ACTIVITY 3 Briefly explain Scope 3 emissions and identifies the emission factors for fuel and electricity purchased. Using this information, complete the following table to calculate Contex Scope 3 emissions. (2Marks).

(hint: refer to the National Greenhouse Accounts Factors - July 2011). GHG Source Scope 3 Indirect Other Own transport fleet indirect fuel extraction Purchased electricity (indirect fuel extraction and line loss) - NSW Purchased electricity (indirect fuel extraction and line loss) Victoria Purchased electricity (indirect fuel extraction and line loss) Queensland Customer use of vehicles ACTIVITY 4 1. Given the components of Contex GHG footprint in relation to Scopes 1-3, describe and differentiate from current reporting practice the types of information that will need to be captured from now on in order to monitor Contexs GHG performance. Given this information differentiation, outline initiatives currently being undertaken at a global level (i.e. by accounting regulators, accounting bodies, accounting profession, academics etc.) to achieve this. Discuss whether you think it is possible for the accounting profession to achieve such integration. Your answer should provide an outline of the real (or perceived) barriers to achievement. (4 Marks). 2. What other external mechanisms (outside of the company itself) may Contex engage in the future to assist in the measuring and reporting of their GHG footprint? (2 Marks). ACTIVITY 5 Identify what information should be reported to investment analysts to enable them to accurately reflect the financial impact of the carbon pricing mechanism in their valuation of Contex? In your answer, you should critically discuss whether such an accurate reflection is achievable given the reporting framework that is currently in place (3 Marks). Quantities used Calculation Emissions tonnes CO2-e

(hint: you may wish to refer to the website detailing the carbon pricing mechanism http://www.cleanenergyfuture.gov.au/ and discussion papers such as fact sheets 19 and 20 at http://www.cleanenergyfuture.gov.au/clean-energy-future/our-plan/ )

ACTIVITY 6 Identify opportunities and make recommendations to cost effectively reduce elements of the companys GHG footprint over time and capitalise on business opportunities arising from the introduction of a carbon price. (1 Mark).

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