Oct. 10, 2022
October 10, 2022 The proposed rule offers accountability to the companies that have made net-zero pledges in organizations. For example, vehicle manufacturing companies have made pledges emphasizing their focus on lowering emissions by emphasizing new technology for electric vehicles. Yet, they do not make it easier for people to buy these vehicles. If the government offers tax incentives of $7,500, they simply market the car for $7,500 more. There is no accountability, and no one is saying anything. If carbon offset accountability is not being taken seriously, then why would any investor consider such a company when it cannot keep simple promises? Perhaps there is a supply issue that is causing these setbacks? Or perhaps there has not been a plan to attack the problem. Basic control measures for emissions already exist, such as controlling vehicle miles, fuel efficiency, fuel content, and establishing emission controls. But even if we use the Corporate Average Fuel Efficiency (CAFE) standards, it d oes not identify the financial shortfalls this article brings to light. If accountants are going to be asked to analyze GHG financials, how would we implement that into our GAAP procedures? Other programs within the government have been given agents to help, such as the IRS. The agency has been given the authority to hire over 87,000 new agents to cover the mission of the IRS. If the government really cared about GHG, it should implement a similar strategy or identify an existing agency to look into these organizations' financial statements. Sarbanes-Oxley will help with the accuracy of identifying shortfalls within accounting practices, but who will regulate them? Who has oversight on what they can and cannot oversee? What penalties can those who violate financial principles face? The time is now to identify where these \"credits\" go to and why there has not been a push to help the American public achieve the same level of credits. Empty promises are made, and no one seems to care . The middle class is being dried up with the cost of living and the cost of items. Gas has risen, and electric vehicles are a justifiable answer. But the situation will worsen without real numbers, and the American people will continue to use GHG emission vehicles.