Finding the alternatives.

The rise in gas prices this summer reinforced what we've all learned over the past year--this is a trend that isn't going to go away. The price of energy in general is set to rise yet more in the foreseeable future, and everyone is learning to adapt.

This market change is boosting enthusiasm for alternate fuels like ethanol, wind, solar and hydrogen power. Although all of them have had an impact on the market, hydrogen is probably furthest from reaching its full potential. In this issue of CMA Management, we look at some of the bigger players in the industry and consider where the technology is likely to make its greatest gains in the foreseeable future. Turn to "The hydrogen industry--still up in the air?" on page 34 for the full story.

With the threat of global warming, and the scarcity of resources, environmental stewardship has also taken a front seat on the agendas of some corporations. As Jean-Francois Henri, CMA, and Alexandre Giasson note in their feature this issue, "Right now, the question is no longer whether companies should take charge of their environmental impacts, but rather how they can do so and still profit. Thus far, the accounting profession has been slow to react." Turn to page 28 to learn how Henri and Giasson believe management accountants can make a difference in this arena.

One resource that is getting scarcer every day is quality employees. The challenge is how to attract them and keep them. David Crawford, CMA, and Todd Scaletta, CMA, argue that one way to attract and retain the best people is by maintaining a set of values that employees can relate to and wish to embrace. They introduce what they call the Accountability Scorecard, an example of how some measures can be used to identify and monitor values in the workplace and determine what is important for employees. Turn to page 22 to learn more.

The demands of the market have made the role of management accountants critical in many fields, but their value isn't always recognized. For instance, health care providers and all levels of government in Canada are struggling to sustain and improve the country's publicly-funded health system, while also keeping the costs of care in check. Despite the importance of cost control, one rarely hears mention publicly of the important role accountants can play in creating differences in this arena. One accountant who is making a difference is Angela Downey, CMA, FCMA. Downey is an associate professor of accounting at the University of Lethbridge, adjunct professor at the University of Ottawa Faculty of Health Sciences, and co-director of the Centre for Health Management Research (CHMR) at the University of Lethbridge. We tell her story in this month's profile.

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Robert Colman

Editor-in-Chief