With Earth Day being marked today (22 April) and the US Climate Summit taking place, clear and consistent accounting standards and disclosures, which are understood by business and investors alike, are an essential part of the urgent policy solutions needed to tackle climate change.
Helen Brand, ACCA’s chief executive says:
‘This year, Earth Day is themed ‘restore the earth’ (www.earthday.org) and here at ACCA we’re marking this occasion by focusing on the vital role the accountancy profession plays in sustainability and climate action.
‘At the New York Climate Action Week in September 2020, ACCA and IFAC organised a global webinar called Creating Value in a Climate Emergency: Recovery, Resilience, and the Transition. We were honoured to be joined by Mark Carney, COP 26 Finance Adviser and UN Special Envoy on Climate Action and Finance, who said that one of the aims of COP26 is to ensure we have the framework in place so that “every financial decision can take climate change into account.”
‘Mark Carney said that progress is happening with initiatives such as the Task Force on Climate-related Financial Disclosures Recommendations (TCFD), and that he and his COP26 team is working on ways to move from voluntary disclosures to mandatory reporting.
‘And that’s because clear and consistent accounting standards and disclosures, which are understood by business and investors alike, are an essential part of the urgent policy solutions needed to tackle climate change. This is where the accountancy profession can bring its expertise into play, with its technical skills and knowledge to measure and report on progress related to climate disclosures and the UN Sustainable Development Goals (UNSDGs).
‘So as we celebrate Earth Day, and as ACCA begins its own journey to COP26 - whether virtual or not - and our commitments to the UN SDGs, we champion the accountancy profession’s role in climate action. As a global professional body, we strive for climate literacy for all our members, through the ACCA Qualification and the CPD we offer.’
To find out more, ACCA invites people to visit its new online Rethinking Sustainable Business Hub: http://accaglobal.com/sustainable-business and also join the Big Conversation on climate action which is also detailed on the Hub.
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About ACCA: ACCA is the Association of Chartered Certified Accountants. We’re a thriving global community of 227,000 members and 544,000 future members based in 176 countries and regions that upholds the highest professional and ethical values.
We believe that accountancy is a cornerstone profession of society that supports both public and private sectors. That’s why we’re committed to the development of a strong global accountancy profession and the many benefits that this brings to society and individuals.
Since 1904 being a force for public good has been embedded in our purpose. And because we’re a not-for-profit organisation, we build a sustainable global profession by re-investing our surplus to deliver member value and develop the profession for the next generation.
Through our world leading ACCA Qualification, we offer everyone everywhere the opportunity to experience a rewarding career in accountancy, finance and management. And using our respected research, we lead the profession by answering today’s questions and preparing us for tomorrow.
Find out more about us at accaglobal.com