Implementing environmental balance sheet within European private companies

For encouraging the entrepreneur spirit within the European Community a new form of economical entity was established in 2004 called European Private Company. European private companies need to be aware of the impact that their activities have on the environment. The policies regarding sustainable development are clear but how well equipped are EPC to meet these challenge. How can implementing environmental management systems, keeping count of environmental costs and reporting environmental information help companies become more and more competitive mostly in this current economic climate?