Defining best practice carbon management in an Australian context

The adoption of the Clean Energy Legislative Package by the Australian Government has created a 'jolt' to the environmental compliance requirements of many of Australia's largest firms. The way these Australian organisations adapt to the introduction of a price on carbon is yet to be seen. Impacted organisations will experience both risks and opportunities that, dependent on their management choices, may affect their profitability and potential to create a competitive advantage. This paper argues that the adoption of a set of attributes, defined herein as Best Practice Carbon Management (BPCM), may facilitate the adaptation of firms to the introduced emissions trading scheme. The implications for carbon management, firm carbon strategy and further research are also discussed.