SARBOX Begets 'Carbox'

I remember being perched in the swayback chair in my orthodontist’s office when I was about 10, reading a dog-eared Cracked magazine and pondering a cartoon that depicted a humorist’s view of the future of government. A man was slipping a nickel in a box strapped to his head that featured a sign that read: Breathing Tax – five cents for five minutes. The notion seemed ridiculous at the time, even to my politically unaware 10-year-old perspective, but before I could think more about it, the orthodontist came at me with some three-pronged, pointy instrument, rendering all thoughts of future bureaucracy null and void.

Flash forward some 38 years to 2008 and the cartoon comes to mind again as I read an interesting article in Forbes that predicts that in the near future, companies unable to determine the actual size of their carbon footprint might face cumbersome fines or even criminal charges.

Much like Sarbanes-Oxley, AKA SARBOX, requires companies to disclose any business risks to investors in public filings, the cleverly dubbed “Carbox” legislative concept would make corporate executives and boards of directors fret about compliance and criminal liability if a company fails to properly disclose business risks related to the cost of carbon emissions. It seems only logical that the eventful shift toward greater data security and Green IT will result in more sweeping legislation that affects this aspect of compliance.

It has already been suggested by members of the British government that every adult citizen should be issued a “carbon ration card” and given an annual carbon allowance to use when buying oil, gas, electricity and airline flights. The UK’s Environmental Audit Committee said a personal carbon trading scheme is the fairest way to cut Britain's CO2 emissions. Under the plan, any citizen who exceeded the allotment of carbon points could buy more credits from other citizens who haven't used up their allowance. Critics contend that such a plan would be expensive, bureaucratic and intrusive.

Legislation governing the protection of consumer privacy and identify theft continue to propagate on a global, federal, state and local level, as does lawmaking on e-waste and carbon emissions. The issues go hand-in-hand when it comes to compliance concerns. Company data, even environmental data, must be protected.

Redemtech has long advised clients to keep aware of legislative changes, such as SARBOX and other compliance rules that emphasize the need to protect company data and track its use. If carbon emissions compliance becomes law, all businesses will need to add this to the already lengthy list of laws to which they must comply.

Just as the notion of a breathing tax seemed funny back when Nixon was occupying the White House and it cost only $3.60 to pump 10 gallons of gas into the Buick SportWagon for my mom to take me to the orthodontist, the idea of carbon compliance may sound far-fetched today. But it won’t evoke guffaws in the next few months when new legislation brings it to reality.

Comments

[Jake Trucelli]

This is funny, clever. Makes a good point. Nice delivery. Legal and regs need more humor.