Evaluate the financial impact of Company Z's investment in sustainability projects using activity-based costing (ABC), maintaining consistency in cost drivers.

Requirements:

1. Identify consistent cost drivers in Company Z's sustainability initiatives, such as renewable energy projects and waste reduction programs.
2. Implement an ABC system to allocate costs to different sustainability projects based on identified cost drivers.
3. Calculate the cost per sustainable initiative developed using ABC allocations.
4. Analyze the financial and environmental benefits of sustainability investments while ensuring consistency in cost allocation practices.
5. Recommend strategies to enhance operational efficiency and promote corporate sustainability, adhering to the Consistency Principle.

Investment Project	Initial Investment ($)	Annual Cash Flows ($)	Project Life (years)
Renewable Energy	$32,000,000	$6,500,000	10
Waste Reduction	$28,000,000	$5,500,000	8