As the world works towards a lower-carbon future, fundamental challenges around current reporting regimes are limiting emission reduction efforts. A new accounting system could be the solution that empowers real emissions reductions � and some companies are already working to make a new method the standard, according to the method�s architect. The work of Professor Robert Kaplan, Senior Fellow and Marvin Bower Professor of Leadership, Emeritus at Harvard Business School, in developing the new e-liability system of accounting for greenhouse gas emissions was the centre of the recent Bill Birkett Memorial Lecture, held by the UNSW School of Accounting, Auditing and Taxation, in partnership with CPA Australia.