Computerworld Australia reports on research from S2 Intelligence.
Within two years, most big businesses will be on their way to spending three times as much on systems for carbon accounting and sustainability reporting compared to what they spent on Y2K, according to analyst and research firm, S2 Intelligence.
Businesses will collectively spend at least US$595 billion on systems to support green accounting.
Releasing forecasts on what businesses will spend on systems to support green accounting through to 2015, S2 Intelligience estimates Australian business will spend at least US$6.5 billion.
The research firm's managing director, Dr Bruce McCabe, said to reduce the carbon footprint of businesses we first need to measure it, but green accounting today is shallow, with lots of window dressing and little actual measurement.
"By 2010 all types of businesses will be investing in systems that support detailed and continuous information collection."
It's interesting that they think Carbon Labelling will drive purchasing behavior.
"Carbon labelling in supermarkets is a good example. Led by chains such as Tesco in the UK, this will soon impact what makes it into the shopping basket.
"Even schemes that follow a simple star rating will cascade into new accounting requirements for every business in the supply chain," he said.
" The primary producer, manufacturer, wholesaler and transport provider will all need to be able to report their contribution--or lose business to someone that does."