Accounting for Sustainability aims to develop a range of measures to help organisations embed sustainability into their decision-making processes and report their performance more clearly and consistently
The Prince of Waless principal private secretary Sir Michael Peat said: The Prince of Wales has said that climate change is the greatest challenge to face mankind and he has asked what our children and grandchildren will say when they look back and assess what we did about it, in the light of what we know now. There is clearly a growing awareness of the need to preserve the environment and considerable strategic commitment from many organisations to do so.
He added that through working with a range of organisations, the project hoped to develop practical mechanisms to translate the commitment into operational reality. Work will include joint studies with participating companies in the food, construction and investment sectors.
The project hopes to develop a model and methodology to enable organisations to take greenhouse gas emissions and sustainability issues into account when making procurement, product design and building decisions. And it will also consider how public and private organisations can report this information in a clear and concise way in formal reporting and on the labelling and packaging of products.