As companies find their way managing their carbon footprints, they must collect accurate data, engage their stakeholders and realize that the process is a constantly evolving work-in-progress.

A research report delving into the carbon management practices of 11 United Kingdom companies uncovered these and other best practices that have been compiled into a guide from the Carbon Disclosure Project and IBM.

"The finding from the research are fascinating and highlight the complexities of managing carbon data," Gill Hall, IBM's carbon management head, said in a statement.

"Making Advances in Carbon Management: Best practice from the Carbon Information Leaders" draws on the experience of what it terms "carbon leaders," which are companies that have recognized that opportunities outweigh the cost of carbon management. These leaders have programs in place to measure emissions, set goals and disclose results.

Five broad themes emerged during the course of the research. First, the accuracy and reliability of the carbon data is critical. Choosing a methodology recognized worldwide lends climate-related goals credibility.

"Yet collection and calculation are only part of the process," the report said. "We have found that good carbon data is not an end in itself; it is the actions taken as a result of having good information that really count."

Getting proper data flows is dependent on engaging various stakeholders, such as employees, supply chain, government, investors, industry and consumers.

Carbon managment is a work-in-progress and starting down the road is often the most difficult step. The report identified cost reduction, risk mitigation, enhancing reputation, competition, end-user pressure, evaluating opportunities, and doing the right thing as the drivers behind carbon management.

The role of carbon information manager has emerged as a prominent figure in the process. A successful manager has one eye on potential regulatory and legislative action and the other focused on stakeholder needs.

Finally, carbon managment leaders understand and juggle the items that they can control and influence the things they can't.