Role of CMAs in Energy Audit
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In India, the role of Cost and Management Accountants (CMAs) in energy audits is gaining importance as businesses strive to align sustainability goals with financial management. With the increasing pressure to reduce carbon footprints, stricter regulatory requirements, and rising energy costs, companies are actively seeking ways to maximize energy usage and enhance efficiency.
CMAs, with their expertise in cost control and financial analysis, are well-positioned to help organizations achieve energy efficiency. They play a crucial role in ensuring compliance with energy regulations such as the Energy Conservation Act, 2001, and participate in initiatives like the Perform, Achieve, and Trade (PAT) scheme, which incentivizes energy efficiency in specific industries. By managing risks associated with energy consumption and ensuring long-term sustainability, CMAs contribute significantly to organizations' financial stability.
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