I understand from a range of press reports that the current Australian government has shelved plans to introduce a proposed Carbon Reduction Trading Scheme (CPRS or ETS (Emissions Trading Scheme) depending on the reporting journalist) and any scheme is unlikely to be introduced until 2013.

 So what does this mean for business?

 There has been talk in the media that business is unable to act because the legislative framework is too uncertain for business to act.

Since when did business need certainty to act?

While a clear CPRS may drive all businesses to take carbon accounting seriously, there are many innovative businesses that are changing their business model now to reduce carbon emissions for the good of the planet and to create a profit centre for their business.

 So what if nothing is introduced for another four years?

 Now is the perfect time for all businesses to review their business cycle and understand carbon emissions at a micro level.

 Once a business understands the cost drivers behind carbon emissions they can change their business practices and be ahead of any scheme and competitors.

 Major emitters are already reporting under the NGER (National Greenhouse and Energy Reporting) Act http://www.climatechange.gov.au/reporting  , while more businesses have adopted sustainability reporting under the GRI (Global Reporting Initiative) http://www.globalreporting.org/Home .

 There is opportunity in uncertainty that innovators and leading organisations are already pursuing. Getting ahead of competitors and staking a claim to our future. Isn’t that the role of business?

 Now is the time to act.