FOR IMMEDIATE RELEASE
02-04-2009
CONTACT: Frank DeSafey, Sequence Staffing
916-782-6900 x 204
View Survey Results At: http://www.sequencestaffing.com/industry-survey-
results/employer-content/services/industry-survey-results.html
World’s Carbon Trading Markets Vulnerable to Enron Type Accounting
Scandals - A Workforce Crisis Looming
Roseville, CA – The world’s carbon trading markets are extremely
vulnerable to accounting scandals like those symbolized by Enron, WorldCom
and Tyco according to leading greenhouse gas and climate change experts
and professionals in an international survey released today by Sequence
Staffing and the Greenhouse Gas Management Institute.
Results of “The 2009 Greenhouse Gas/Climate Change Workforce Needs
Assessment Survey” exposed their concern that lacking capably skilled
personnel and experts to properly account for trading, respondents
strongly believe there’s a moderate-high risk that carbon trading markets
will be plagued by problems similar to the large accounting scandals of
the past.
Respondents also acknowledged the world is facing a critical shortage of
qualified staff and experts to meet the rapid growing demands of battling
greenhouse gas and climate change, and educational institutions are
failing to meet these needs, both potentially contributing factors to a
future crisis.
“These findings show a rapid growth in the climate change and global
greenhouse gas market,” said Sequence Vice President Frank DeSafey. “The
need for expertly trained personnel is absolutely critical if the
international community is to successfully meet the challenges looming.”
The first of its kind international survey confirms the workforce and
skill shortages critical to battling climate change, and details the depth
and breadth of the deficiency, the industry’s anticipated growth and its
development as a new professional occupation.
“In a field that is technical and open to accounting mistakes, it is
crucial that there are trained professionals capable of supporting a cap-
and-trade program or carbon tax system,” Michael Gillenwater, dean of the
GHG Management Institute, says. “Our survey indicates that experts believe
there is a serious risk of carbon markets and policies being discredited
in the future by scandals like we saw with Enron and in the mortgage
markets. To avoid this, we will need professionals with the skills and
ethics to account, audit, and manage GHG emissions.”
The survey includes responses from over 700 international industry
professionals, scientists and organizational leaders throughout public,
private and non-profit sectors, reflecting views from individuals on every
continent and major nation, and representing a significant fraction of the
world’s professional experts and leaders on climate change.
Specifically, the research identified seven key findings:
Greenhouse gas accounting is critical to climate change according to 98.4%
who believe measuring and accounting of greenhouse gas (GHG) emissions is
critical or very critical to the successful management of global climate
change. But, there is a shortage of qualified GHG personnel and experts
to undertake current needs and future initiatives say 83.9%.
Further, 84.7% see at least 25% business growth projected for the GHG
industry in the next five years, including 88.9% saying it will at least
double; 22.8% believing it will triple; and 19.6% saying more than
triple. No respondent believed the industry will shrink.
With increased focus on carbon trading, 64.5% believe carbon will be
traded at volumes equivalent or greater than other major commodities such
as steel or coal. Given the shortage of qualified personnel, 83.2% felt a
moderate-high risk that carbon trading is subject to the same accounting
problems symbolized by Enron, WorldCom and Tyco.
An indication of how the industry has quickly evolved, 77.2% expect that
GHG accounting and management will become professionalized like the
information technology profession has. Educational institutions are not
adequately training new graduates with GHG accounting and management
skills according to 81.9%.
Complete survey results and details are available online: “The 2009
Greenhouse Gas/Climate Change Workforce Needs Assessment Survey.”
(http://www.sequencestaffing.com/industry-survey-results/employer-
content/services/industry-survey-results.html)
Sequence (www.sequencestaffing.com), a premier executive search and
staffing firm for the environmental, construction and light industrial
industries, is dedicated to supporting the core organizations responsible
for building and maintaining the nation’s infrastructure, natural
resources and environment.
The Greenhouse Gas Management Institute (www.ghginstitute.org), the
world’s leading nonprofit organization on training and education related
to GHG emissions, partnered with Sequence for their reputable experience
specializing in recruitment of niche scientific and technical
professionals in the environmental sector.
Sequence Systems
2008 Opportunity Drive #150
Roseville, Ca 95678
Phone: 916-782-6900
Fax: 916-782-6307
www.sequencestaffing.com
