Will Sarni explains why he's had a change of heart on the emerging carbon-labeling trend.

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I've always been skeptical of carbon labeling for products, as I was not convinced that consumers would make purchasing decisions based upon a carbon footprint.

I believe I missed the point. There is inherent value for companies to understand the carbon footprint of their products and have some standard approach for comparison with competitors' products. A companywide, product-specific view provides a truly comprehensive assessment of the carbon footprint of a company. More importantly, establishing a product's carbon footprint helps manufacturers identify opportunities to cut out waste (and thus shave emissions).

Perhaps a broader range of customers will ultimately care about the carbon footprint of products and make buying decisions based upon this factor, but that will take time. There is no time to delay, however, in assessing the carbon footprint of your products or the carbon benefit of using them (videoconferencing, anyone?).

If this sounds like a daunting task, consider this: Carbon assessment is getting easier all the time, as the world moves toward a more standardized approach.

Last week the U.K. rolled out a carbon footprint standard for products. The new PAS 2050 framework provides companies with a uniform approach to quantifying greenhouse gas emissions throughout a product s lifecycle, from sourcing of raw materials through to packaging and distribution and impacts from consumer use and disposal are also factored into the standard. The standard will, hopefully, encourage businesses find ways to reduce emissions during design, manufacturing, and distribution of products.

PAS 2050, coupled with the British government's new legislation requiring companies to report their greenhouse gas emissions beginning in 2012, makes it clear that the time is now to determine your carbon footprint and innovate your way to a lower-carbon profile.

My advice? Determine your companywide global footprint - and the footprint of your products - without a moment to lose. In addition to identifying ways to reduce your carbon footprint, you may learn that you have a great (and credible) story to tell your consumers and customers.

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Will Sarni is CEO of sustainability consulting firm DOMANI. He is also SLM's expert-in-residence on climate strategy and the host of Climate Management Weekly.