Accounting isn’t just about money these days. Businesses are increasingly needing to keep track of their emissions, waste, and other environmental factors as well.
And with demand for “Climate Accountants” on the rise, accounting students like Myles Hall are specialising in this field to get ahead of the curve.
“I’m in the first year of my Bachelor of Business and I first heard of climate accounting when I did the Introduction to Carbon Accounting unit as an elective, and I ended up really enjoying it,” he said.
“Legislation means it will soon be mandatory for companies to report on climate issues, including carbon reporting, so any company or firm you end up working for in coming years is going to have a big focus on this.”
Myles is using his electives to count towards an Undergraduate Certificate in Climate Accounting, which he can study in parallel with his Bachelor of Business at the University of Tasmania.
He said the additional qualification would be a valuable supplement to his bachelor degree, especially as he will be graduating into a business environment where sustainable practice and carbon accounting will essential.
“I want to end up in financial planning and having the ability to do this will help me get a foot in the door because this will end up on every balance sheet.”
The Undergraduate Certificate in Climate Accounting is a six-month course that covers the science of climate change, the ever-evolving climate policy landscape, and how to collect and analyse carbon impact data.
Changes to Federal Government rules mean that Undergraduate Certificates like this one will not be available to study in 2025. But carbon accounting and environmental responsibility continue to be themes built into the Bachelor of Business, and a Sustainability major is available.
“Climate change is very real, and it’s happening very quickly, and change needs to happen at a very high level,” Myles said.
“A huge proportion all carbon emissions come from big firms and corporations. So, if you can get in there and make meaningful change from the inside, that’s where you have the biggest possible chance to make a big difference.”
Growing up in Hobart, Myles focused on business studies classes in high school. Coupled with his father’s background as a financial planner, Myles always saw himself going into a similar career.
But with climate change being the world’s greatest looming threat, and the business world increasingly expected to be accountable for its impacts, Myles said it made career sense to specialise in this particular area.
“There is a more traditional accounting side to it, in terms of calculating emissions and looking for ways to make reductions. But the other half of it is understanding climate science and climate change.
“So, you need to be a good accountant, but also an accountant with a bit of passion and interest in this as an issue.
“Each generation has its major problem, whether that was the Cold War, World War 2 or whatever. And for us it’s climate change.
“It’s happening quickly and if there’s anything I can do in my own career to help slow or reverse it, then I’m all for it.
- Time is running out to enrol for the Undergraduate Certificate in Climate Accounting. This six-month course must be completed before the end of 2024 in order to graduate, so be sure to apply soon.
- Alternatively, you can cover themes around climate accounting as part of a Bachelor of Business, and you can even study a Sustainability major as part of your degree.