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Philippine Institute of Certified Public Accountants

The National Organization of Certified Public Accountants





700 Shaw Blvd., Mandaluyong City



Tel. Nos. 8723-0691 to 93



info@picpa.com.ph

Climate Action and the Accountancy Profession

Climate Action and the Accountancy Profession

Report Title: Climate action and the accountancy profession: building a sustainable future.

Summary of the Report: This report considers just how accountancy and finance professionals can provide leadership – and what needs to change within organizations for them to achieve carbon emission reductions at the pace and scale that is required.

A survey of the global ACCA community spread across the corporate, public, financial, and non-profit sectors and a series of regional roundtables around the world were commissioned to provide context on the major climate risk themes being considered globally.

These findings and discussions emphasize an appetite for fully embracing climate considerations at the very core of business strategy. The research also shows an understanding and desire among accountancy and finance professionals to play a central role in shaping this strategy and leading organizations into the future. However, the findings and opinions also reveal just how disconnected the good intentions are from the urgency of climate action that is needed.

Key Highlights: Some headline findings are:

  • 75% say it’s important that accountancy and finance teams are involved in supporting their organizations to tackle climate change.
  • 29% say that climate change considerations play a significant or central role in financial decision making.
  • Just 15% say their organizations have set targets to be net zero compliant by 2050 (the internationally agreed goal for mitigating global warming – whereby greenhouse gases entering the atmosphere are balanced by their removal from the atmosphere).
  • Only 23% integrate climate key performance indicators (KPIs) into their business strategy and/or risk frameworks.
  • 52% believe climate change regulation will impact their organization over the next five years.
  • Only 38% feel that their organization will be willing to invest much more than today in addressing climate change over the next three to five years.
  • 73% say it’s important that their future career involves taking action on climate change

The time to act is now. Take the next steps in helping organisations build their net zero transition plans.

 

Link to the Full Report:
Click here to read the report.