About the Author:

Henry has over 20 years experience in the IT industry across a number of industries including Mining, Energy, Manufacturing, Local, State, Federal Government and Utilities. He has worked with a number of major Australian manufacturing organisations, helping them to adapt their systems and processes in order to satisfy reporting requirements under the National Greenhouse and Energy Reporting act (NGER). He has presented to Australian Certified Practice Accounting members on the topic of the NGER act and the benefits around leveraging financial management data. Henry has also had an article published in “ INTHEBLACK ” (INTHEBLACK is CPA Australia's monthly magazine (formerly Australian CPA) which provides members with the latest reporting, taxation and corporate governance information).

If you listen closely, you might just hear the constant hum of people, organisations and governments getting on with the business of responding to climate change.

Fear and facts collide in the popular media to leave people dazed, confused and believing the world to be stuck in some form of post Copenhagen vacuum. If you turn your attention elsewhere however, there is action aplenty. Germany has set itself a goal of being 100% powered by renewable energy by 2050. Spain has increased investment in renewable energy from 500 million Euros per year up to 2.5 billion Euros this year and recently hosted Independent member of parliament Tony Windsor, at its newly commissioned 20 megawatt, 24 by 7 Gemasolar power station near Seville.

Pictures of this trip, which subsequently appeared in the papers, made me wonder. Sure we’ve all seen the old Sergio Leone westerns and got a glimpse of Spain’s hot south, but back here in the world’s hottest continent, its rather embarrassing to have an Australian member of parliament traipse to Europe to get tips on Solar technology. It seems we have some way to go before we start making use of our natural competitive advantage in renewables. On a positive note, earlier this year the NSW government announced a commercial scale solar farm at Nyngen which will, when operational, generate enough power for 20,000 homes. Interestingly, the giant Chinese solar company Suntech - which has strong management associations going back to NSW university - is part of the joint venture team. This company produced the world’s first solar billionaire, Dr Shi Zhengrong, a graduate of the University of NSW's School of Photovoltaic and Renewable Energy Engineering. Meanwhile, many of those Australian companies reporting on their emissions and energy efficiency as part of the Federal government’s 2007 National Greenhouse Energy Reporting requirements, continue to  wait for clear price signals before committing to significant carbon abatement and renewal technologies. But they may not have long to wait.

September 2011 is shaping up as a big month, with the Carbon Tax legislation  presented to parliament and the government hopeful of meeting its July 1, 2012 target date for the start of scheme. When implemented, the Australian Parliament will have joined 32 other countries that already have some form of Emissions Trading.

So, when the inevitable political shouting starts to ramp back up again, just tune into that background hum of people around the world getting on with the change. What they’re up to is something I’ll cover in the next blog …I will be getting on with looking at compliance – what this will mean and how companies can best adapt processes and systems to meet their reporting obligations.

•  As CFO, I feel my reputation becomes tarnished due to lack of integrity from the system my team manages
• If it is a repeat audit item then my incentive plan may be marked down and my ego hit even harder
• Most importantly though, the organisation that employs me is penalised through its cash flow, which affects a larger stakeholder base.

"The financials of ERP is a topic that can make any CFO (or CEO and CIO) very excitable” according to Thomas Wailgum CIO magazine.

And frankly, as it should! With every increasing pressure on companies to ensure they are streamlined in their business processes and delivering value to their shareholders, the thought of duplicating effort in any part of the business, is nigh abhorrent. But nowhere more so, if you are the CFO, where efficiency is the key to delivering results.