The aim of this three day course is to introduce a general framework for material flow cost accounting (MFCA). MFCA is a management tool that can assist an organisation(s) to better understand the potential environmental and financial consequences of their materials and energy use practices, and seek opportunities to achieve both environmental and financial improvements via changes in those practices.
MFCA promotes increased transparency of material use practices by means of development of a material flow model that traces and quantifies the flows and stocks of materials within an organisation(s) in physical units. Any costs that are generated by and/or associated with those material flows are then quantified and assigned to them. In particular, MFCA highlights the comparison between costs associated with products versus costs associated with material losses (anything that does not end up in products), e.g., waste, air emissions, and wastewater, etc. MFCA is applicable to all industries that use materials and energy, including extractive, process, manufacturing, and service industries. It can be implemented by organisations of any type and scale, with or without environmental management systems (EMS) in place.
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