I have been engaged in environmental risk management (e.g., environmental compliance) for most of my environmental career. However, risk management mainly focuses on end-of-pipe, meaning that final outputs are subject for management to minimize risk. one of the innovative approaches that I found very practical these days is Material Flow Cost Accounting.
Material flow cost accounting (MFCA) is a very practical tool to manufacturing companies. Especially, MFCA assists organizations in promoting cost reduction and reducing environmental impacts (e.g., carbon emissions). For example, Canon achieved economic benefit of USD 11 million as of 2008 through MFCA. In Japan, MFCA approach was rapidly diffused to approximately 150 companies under the support by Ministry of Economy, Trade and Industry.
I will explain more on what is MFCA and how it can be used in on-site corporate activities.