(ISO: Geneva) -- The international standard, ISO 14051:2011—“Environmental management—Material flow cost accounting—General framework,” assists organizations to better understand the environmental and financial consequences of their material and energy use practices, so that they can identify opportunities for improvement.

ISO 14051, from the International Organization for Standardization (ISO), establishes a management information system approach called “material flow cost accounting,” which can be used to trace and quantify material input and output flows and stocks within an organization. The system helps identify material and energy use practices, and understand these in costs and physical terms. The information can then be applied to reduce losses and increase gains.

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