By using their knowledge of how business works, accountants are in prime position to help organizations meet sustainability goals.
: “Companies are under mounting pressure from investors, governments, NGOs and other stakeholders to demonstrate their efforts to manage the effects of their operations. Public environmental, social and sustainability reporting is now the main route through which corporate accountability and integrity can be demonstrated.” Sounds familiar, doesn’t it?
But, as the world’s leaders and thousands of climate change specialists and activists gather in the Scottish city of Glasgow for, there is still a lot more to be done. To be fair, ACCA was in the vanguard. It had instigated an annual awards scheme to promote the need for businesses to report on their environmental and social effects alongside their annual accounts and it later widened the scope of the initiative to acknowledge the necessity of thinking more generally about sustainability.
ACCA, though, is out to remind the world of the role that accountants — whether working in private practice and advising businesses, in businesses themselves or in government — can play in ensuring that organizations do what is necessary to operate more sustainably. Glenn Collins, head of policy, technical and strategic engagement at ACCA, explained: “Accountants have a really good knowledge of business. They know what makes business tick at each point.
But there is a long way to go, as Collins acknowledges. The same document reports that just 15% of accountants and finance professionals around the world say their organizations have set targets to be net zero compliant by 2050 — and that only 38% say their organizations will be willing to invest much more than today in addressing climate change over the next three to five years.
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