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Australian accountants have been called to take the lead on climate change action by helping clients adopt sustainable business models, as CA ANZ and CPA Australia sign a global call to action with 12 other accounting bodies across the globe.
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CA ANZ, CPA take the lead on climate change crisis
26 February 2020
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10 minute read
The 14 global professional accountancy bodies, representing 2.5 million professional accountants worldwide, have now called on their members to take action on the economic, social and business risk that climate change will bring.
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The accounting bodies are members of the Accounting for Sustainability Project (A4S), established by Prince Charles in 2004, which has an objective of building resilient business models and a sustainable economy.
CA ANZ chief executive Rick Ellis believes accountants are uniquely placed and qualified to help businesses and organisations deal with climate change.
“They can quantify the risks, and their financial consequences, providing robust, reliable and transparent information for decision-makers, investors and the public,” said Mr Ellis.
The 14 accounting bodies believe accountants now have the responsibility to help organisations address climate change due to their unique position in every business, government and organisation.
Accountants have been urged to help their organisations consider the risk of climate change in financial statements and integrate climate change risk into organisational strategy, finance, operations and communications
“We frequently use our skills and expertise to help deliver meaningful change and we are now applying these to the uncharted challenges that climate change presents,” said the joint statement.
“Identifying material risks with financial consequences and providing the information needed to make decisions are the domain of the accountancy profession. This includes providing relevant financial and strategic analysis, disclosure, scenario analysis and assurance to help organisations generate and preserve value.
“We can therefore be influential in driving sustainable behaviours. Acting together with organisations of all types, we can help to deliver environmental, social and economic sustainability.”
The statement also includes a commitment from the chief executives of the accounting bodies to support members in the coming months with the resources, information and training needed to meet the challenges ahead.
“Climate change presents significant economic and social challenges both now and in the future — challenges that require action from governments, businesses and people from all walks of life,” said CPA Australia chief executive Andrew Hunter.
“The call to action is consistent with and complements actions taken by a broad range of regulatory agencies by way of pronouncements and guidance emphasising the economic and business imperatives of response to the multifaceted challenges of climate change.
“It also adds to the growing momentum towards identifying strategies for a just and economically efficient transition to net zero emissions.”
CA ANZ’s Mr Ellis said the call to action was a sign that the accounting bodies were supporting accountants who had taken the first steps in identifying climate change risks.
“Accountants are already playing a key role assisting organisations to manage their impact on the planet and the impact of climate change on their organisation,” said Mr Ellis.
“Our call to action supports both these early adopters who are quantifying risk and accountants following in their footsteps.”
The 14 accounting bodies who have signed the call to action on climate change are:
- Rick Ellis, CEO, Chartered Accountants Australia and New Zealand
- Barry Melancon, CEO, Association of International Certified Professional Accountants
- Mark Farrar, CEO, Association of Accounting Technicians
- Klaus-Peter Naumann, CEO, Institut der Wirtschaftsprüfer in Deutschland e.V. (IDW)
- J Bruce Cartwright, CEO, ICAS
- Christine Lundberg Larsen, CEO, Regnskap Norge/Accounting Norway
- Helen Brand OBE, CEO, ACCA
- Francesca Maione, CEO, CNDCEC - Consiglio Nazionale dei Dottori commercialistie degli Esperti Contabili
- Masahiko Tezuka, Chairman and President, The Japanese Institute of Certified Public Accountants
- Joy Thomas, President and CEO, CPA Canada
- Andrew Hunter, CEO, CPA Australia
- Barry Dempsey, CEO, Chartered Accountants Ireland
- Michael Izza, CEO, ICAEW
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