The future of our organisations and society itself depends on sustainability and a just transition
Accountancy and finance professionals are at the forefront of the transition to a sustainable future according to the latest research by ACCA (the Association of Chartered Certified Accountants). Finance professionals from around the world shared their views, resulting in our new report Accounting for Society’s Values.
Organisations need to transition to a sustainable future that embraces the economic, environmental and social aspects in combination. Society faces long-term challenges from social injustice, with stakeholders and regulators increasingly focusing on the social implications of the actions of organisations. That’s why defining and measuring the return to society by an organisation’s activities is becoming as important as the financial objectives themselves.
The accountancy and finance profession needs to see this as an opportunity to define its future role and put the social agenda at the core of the profession.
Three key messages from this report:
Helen Brand OBE, ACCA chief executive commented: ‘The social agenda is a broad one and requires organisations to act now. Without the valued and proactive input of the accountancy and finance profession, the goal of reaching sustainability for all organisations will be unattainable. The profession has an opportunity to play its full part in enabling the just transition, not least the social aspect – one that it cannot afford to shirk.’
Report author and Senior Insights Manager at ACCA, Clive Webb, said: 'Whilst the emphasis for many organisations may have become focused on the environmental aspects of a just transition it is important to ensure that nobody is left behind. The social agenda is a vital element of the transition and whilst it may present challenges in readily measuring progress this cannot be an excuse for a lack of action. Accountancy and finance professionals need to be at the forefront on ensuring that their organisations measure and report performance in this area if we are to be a just society.'
Read the full report here.
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About ACCA
ACCA is the Association of Chartered Certified Accountants. We’re a thriving global community of 241,000 members and 542,000 future members based in 178 countries and regions, who work across a wide range of sectors and industries. We uphold 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.
ACCA and CA ANZ have formed a strategic alliance for the benefit of members and to help shape the future of the profession. Find out more about us at accaglobal.com