FDs split on call to go green
Would you be happy to produce an environmental report alongside your annual report and accounts?
Almost half of UK finance directors are ready to start publishing environmental reports alongside their annual report and accounts.
The latest Accountancy Age/Reed Accountancy Personnel Big Question survey indicates the number of FDs prepared to write environmental reports outweighs those who find no value in the process.
The results follow heavy criticism of the International Accounting Standards Board by the UN and ACCA for not engaging in the process of writing standards recognising the value of sustainability.
In the survey one FD said: ‘All companies have a responsibility to ensure environmental issues are incorporated into the culture of business.’
Another said: ‘Companies should be responsible for the future. If we do not think long-term, there will be a big price to pay.’
The IASB has indicated that it believes there is no way of writing rigorous standards for reporting sustainability issues.
Some of the FDs polled questioned the benefits of green reporting.
John Buckley, FD at Santer Automation, said: ‘Such a report would have little value beyond the cosmetic. What would companies say? Who would know if they were telling the truth? There is already a lot of scepticism about audited figures.’