AICPA & CIMA, together as the Association of International Certified Professional Accountants, have launched Accounting for Climate Resilience.
This is a new online educational brief designed to help finance professionals build their sustainability literacy so they can lead and support the journeys of their organisations, firms, and clients as they adapt business models and operations in response to increasing climate-related risks.
Accounting for Climate Resilience is the last in a series of four interactive “Accounting for” briefs focused on sustainability and business.
Dr Martin Farrar, associate technical director at AICPA & CIMA, says: “Finance professionals are at the heart of business and therefore are well-placed to help create resilient business models and implement strategies for organisational sustainability in a changing world. They have connections within the business and can join the dots with stakeholders outside the business to start conversations about what resilience looks like in relation to the risks posed by the climate emergency.”
Dr Jeremy Osborn, FCMA, CGMA, CPA (Aust), global head of ESG at AICPA & CIMA, adds: “With their skills and knowledge, finance professionals can provide insights into organisational governance, strategy, risk management, and performance to support sustainable decision-making built on sound business analysis and assurance of both financial and non-financial information, including sustainability-related data. They are ideally placed to support climate scenario development and build this into organisational adaptation plans.”
The series of “Accounting for” briefs include: Accounting for the Sustainable Development Goals; Accounting for Carbon; Accounting for Nature; and Accounting for Climate Resilience.
Their aim is to help organisations consider sustainability issues, guide how to integrate them into their long-term decision-making, and how to incorporate these issues into internal and external reporting.