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12 December, 2004

The International Federation of Accountants (IFAC) has approved an exposure draft on Environmental Management Accounting (EMA) based on work facilitated by the UN Division for Sustainable Development particularly the efforts of  two of its members, Dr. Deborah Savage and Dr. Christine Jasch who are the main authors of the exposure
draft. You can view the exposure draft at www.ifac.org/EDs

The draft will be open to comments until end of February and hope that it will  be launched as a full guidance document on Environmental Management Accounting by the IFAC after the exposure draft stage. They cannot overemphasize the significance of this development as this will give EMA that needed seal of approval as good management accounting practice for companies from one of the world's highest accounting body, IFAC.  This will definitely facilitate the accounting profession's getting in line with sustainability issues and having the tool for it. 

Please provide your comments so the IFAC will know that there is a high level of interest in this area.