| Sourced From Bloomberg.com |
June 11 (Bloomberg) — Australian companies have done little to preempt any negative impact emissions trading could have on future earnings, risking downgrades from credit rating agencies, according to PricewaterhouseCoopers LLP.
PwC found that more than a third, or 35 percent, of the businesses it surveyed havent factored in a proposed emissions trading system. Almost a quarter of companies have done nothing at all to prepare for the carbon plan, PwC said.
Australia delayed by a year to mid-2011 on May 4 the proposed start of a carbon trading system, which places a cost on emissions blamed for climate change. The government has called for a A$10 ($8.13) a metric ton carbon price for a year until July 2012, from when the market will determine the cost.
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