A Case Study on Climate Change and its Impact on Airline industry
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Added on 2019-11-26
A Case Study on Climate Change and its Impact on Airline industry
Added on 2019-11-26
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Contemporary Issues in AccountingResearch ProposalStudent Name:Your assigned research question*:Title:Submission Date: 1 | P a g e
Acknowledgement:I certify that I have carefully reviewed the university’s academic misconduct policy. I understandthat the source of ideas must be referenced and that quotation marks and a reference are required when directly quoting anyone else’s words. 2 | P a g e
Introduction:Increasing awareness of climate change impacts around the globe has led to companies to adopt CDP disclosures[ CITATION Sus08 \l 1033 ]. Climate Change Information Request a program of CDP analyses greenhouse gas emissions of company activities. Such disclosures norms strive to attain reduced exposure to climatic change and to mitigate effects that cause climate change. TheCDP body works along with various corporates and investors to study and analyse ways such that positive impact can be caused on the environment. In such disclosure norms companies are required to provide details regarding their greenhouse gas emissions in their CDP by means of anOnline Response System (ORS). Australian regulatory boards are striving to attain positive climatic impacts through disclosure norms. Qantas Airways, a leading airline in Australia and is the flag carrier in Australia. The Company was established in the year 1921 in Winton, Queensland[ CITATION Bul15 \l 1033 ]. Currently it flies to most parts of the world and has its headquarters in Mascot, Sydney, Australia. It enjoys a 65% Australian market share and 14.4% of passengers flying inside or outside of Australia. The Company is focused on reduction in emission targets such that it can make positive impact globally. It has been rated as a A-grade Company in its Climate score, due to its carbon related activities undertaken. The scope of this report analyses carbon related impact on the climate caused by the Company. Practical Motivation:Climate change information request 2015 aims at obtaining several data and information in regards to carbon emissions done by the Company. Qantas Airways is a well-known airline that is focused on reducing its emissions, which is target driven by the Climate change procedures. The Company is committed to reduce its emissions and make use of sustainable resources as much as possible[ CITATION 10308 \l 1033 ]. Though the several airplanes that belongs to the airline functions on fossil fuel, which is a non-renewable and non-sustainable source, it is planting trees and reducing its carbon footprints in other activities. Most office of Qantas are adopting renewable sources of energy for their regular functionality and reducing wastages of energy. All sources that leads to climatic impact are analysed and their carbon footprints are 3 | P a g e
calculated. Each of such items are taken and transformed in an endeavor to reduce impact. The Company is focused on innovation and sustaining renewable mechanisms for every purposes, also devising means by which fossil fuel can best be replaced. Except for where necessary, the Company is not making use of fossil fuel adapting to efficient energy usages[ CITATION Kar081 \l 1033 ]. At various offices it is making use of solar panels and wind energy sources to reduce its impact on the climate. The Company has adopted all possible means to store and publish data that are in accordance to its Climate impact. Its disclosure agreement provides detailed data and procedures regarding each and every heads that are provided by the CDP. The high scoring potentiality of the Company is reflected by the valuable perspective it attaches to the activities that is being performed by the Company for responding to climate change. Through operational excellence and energy efficient usage, it has been able to make considerable impact on creating an innovative measure. Theoretical Motivation:The Paris Agreement has been ratified at a very fact pace determining heavy reliance on developing Sustainable Developmental Goals (SDGs) on corporates. The new agreement makes it clear that for climate change to be impacted, corporates needs to adapt to norms and procedures that prevents further degradation of the environment. Business strategies needs to revolutionize their businesses based on low-carbon that can limit rise in temperatures[ CITATION Cot121 \l 1033 ]. Preventing global warming has become a heavy task, with generation of relianceon everyone to contribute towards the cause in an unprecedented manner. For the scope of the current analysis of Qantas Airlines, legitimacy theory has been adopted. Legitimacy theory considers generalized perception in regards to beliefs and actions of an entity on basis of sociallyconstructed norms. Legitimacy theory applied on this study will consider that climate degradation has been initiated and, Qantas is trying to make a positive impact to restore such degradation. There is a tremendous amounts of stress that is caused on the climate due to carbon emissions from several activity that can be reduced by socially accepted norm of legitimacy 4 | P a g e
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