For over a decade, companies in Europe have been increasingly exposed to costs associated with the management of waste and detailed environmental disclosures. Now we are seeing those environmental waste obligations coming to the US and Americas. Initially, those measures were relatively limited in scope. However, there is a dramatic increase in the scope of these obligations and proposals in US, Canada, and certain South American jurisdictions. Companies need to be ready to meet these new requirements, as they are constantly evolving and expanding into new local regulations.
Our team of waste specialists at CKH Group are equipped to address business specific needs by helping to meet obligations in different jurisdictions, find answers to technical questions on application of specific rules, interpret business obligations in a most cost-efficient way.
As a leading CPA firm based in Atlanta, we take pride in offering Environmental Consulting Services designed to:
- Maintain environmental compliance
- Avoid costly errors and find cost-efficient solutions
- Provide expert knowledge in a complex and changing area
What Is Environmental Consulting?
Environmental Consulting at CKH Group includes assisting our customers worldwide to maintain compliance with current environmental regulations, adjust to new ones, and identify cost saving areas for you in regards to environmental regulations.
Examples of environmental regulations currently affecting Europe are Packaging Waste Directive, Waste from Electrical and Electronic Equipment (WEEE) Directive, Batteries Directive, Plastic Packaging Tax (PPT) as well as the concept of Extended Producer Responsibility (EPR). Similar regulations are emerging in the US (in certain states), Canada, South America, especially in the area of packaging waste. Relying on the specialists in environmental consulting will help bring you into compliance and protect you from possible penalties since this area will literally affect any company engaged in the sales of packaged consumer goods.
Clean Energy Transferrable Tax Credits
The Inflation Reduction Act (IRA) of 2022 has created opportunities for developers of clean energy to sell eleven types of clean energy tax credits to third parties starting from 2023. Developers can reduce their federal tax liability with tax credits ranging from 30% to more than 50% of the value of their energy projects or sell the tax credits to a third party for cash needed to fund their next development. Purchasers, on their turn, can benefit from the discount on the purchase of clean energy tax credit.
What is EPR (Extended Producer Responsibility)?
Extended Producer Responsibility (EPR) is an environmental policy that requires producers to assume responsibility for the entire life cycle of a product, encompassing its management from production to disposal. EPR aligns with the main principles of a circular economy by promoting recycling and reduction in the use of materials harmful for the environment.
What is the Break Free From Plastic Pollution Act?
The Break Free From Plastic Pollution Act is a proposed federal bill that is aimed at diminishing the production of various products and materials, particularly plastics. The legislation aims to enhance efforts in collecting, recycling, or composting products and materials in the following ways:
• Specific producers of products bear financial responsibility for the collection, management, and recycling or composting of their products once they have been used by consumers.
• The legislation specifies minimum percentages for the reuse, recycling, or composting of products
• A progressive requirement for the inclusion of recycled content in beverage containers.
• Initiation the phase-out of several single-use products and introduces provisions designed to promote the reduction of such items.
• Restrictions on the export of plastic waste to other countries.
While this bill has yet to be passed, its similarities to the California Plastic Pollution Prevention and Packaging Producer Responsibility Act signals that changes to environmental regulations may be on the horizon, either at the state or federal level in the US.
What is the Plastic Pollution Prevention and Packaging Producer Responsibility Act?
The Plastic Pollution Prevention and Packaging Producer Responsibility Act is a bill introduced in California to shift plastic pollution responsibilities from consumers to producers. In summary, the Act requires the reduction in use of virgin plastic, promotes use of recyclable material, and improved recycling rates. Although this bill is in California, this will concern any entity doing business in California, including online.
In addition, this bill is likely to have far reaching impacts. We already see other states like Colorado, Maine, and Oregon imposing regulations on single-use plastics.
Why Choose CKH Group?
CKH Group’s Accounting and Advisory services are designed to help businesses navigate the complexities of financial management in today’s dynamic economic landscape.
With CKH Group, you’re not just getting a CPA firm; you’re gaining a trusted partner committed to your success. Discover the CKH Group advantage, where excellence, integrity, and expertise come together to create a powerful accounting and advisory partnership for you. Contact us today to explore how our accounting services can add value to your organization.