A new publication by Professor Roger Burritt from the Fenner School of Environment and Society, College of Medicine, Biology & Environment, The Australian National University, and Dr Katherine Christ from the University of South Australia Business School, Adelaide, is available in the Journal of Environmental Management.
Burritt R. and Christ, K. (2017) ‘The Need for Monetary Information within Corporate Water Accounting’, Journal of Environmental Management, 201, pp. 72-81.
A brief outline of the paper follows:
A conceptual discussion is provided about the need to add monetary data to water accounting initiatives and how best to achieve this if companies are to become aware of the water crisis and to take actions to improve water management. Analysis of current water accounting initiatives reveals the monetary business case for companies to improve water management is rarely considered, there being a focus on physical information about water use. Three possibilities emerge for mainstreaming the integration of monetization into water accounting: add-on to existing water accounting frameworks and tools, develop new tools which include physical and monetary information from the start, and develop environmental management accounting (EMA) into a water-specific application and set of tools. The paper appraises these three alternatives and concludes that development of EMA would be the best way forward. Suggestions for further research are presented including the need to examine the use of a transdisciplinary method to address the complexities of water accounting.