CIMA has called on accountants from around the world to take ownership of
climate change initiatives as they will ultimately be held accountable for
achieving reduction targets.
The institute warned that without commitment from finance professional to
mitigate climate change, organisation risk damaging their competitive edge
through running up higher costs.
The CIMA report ‘Accounting for Climate Change’ stresses accountants are ”
critical” to ensuring sustainability strategies are properly embedded in
Charles Tilly, chief executive at CIMA, said: “Organisations around the world
must ensure their finance professionals are at the heart of climate change
initiatives if they are to be successful.”
The results showed one in five respondents felt environmental issues are not
on their organisations agenda with just over half saying their organisation do
not see environmental issues as a strategic priority.
The report surveyed 900 accountants and corporate social responsibility
professionals from around the world.
CIMA’s research found significant cost savings were made in companies which
teamed up its finance and CSR departments.
At the Copenhagen Climate Change Summit taking place this week various
institutes and professional bodies are calling for a universal standard on
accounting for carbon.
The institute signed a letter by Accounting for Sustainability, a Prince of
Wales initiative, calling for a single set of universally accepted standards for
measuring, reporting on and monitoring greenhouse gases around the world.
Engineering and technology executives have voiced concerns over the government’s industrial strategy and the need to fill the R&D funding and long-term investment gap in a post-Brexit Britain
This year’s Finance Act is 649 pages, the second longest recorded, and highlights the increasing complexity for taxpayers of an ever expanding tax code
The International Integrated Reporting Council (IIRC) and the CIPFA have launched an introductory guide for leaders on integrated thinking and reporting
Accountancy Age is delighted to reveal the shortlists for the 2016 British Accountancy Awards