|October 05, 2009|
Accounting for Climate Success
|NEW YORK - PRNewswire -- According to a new position paper from the Association of Chartered Certified Accountants (ACCA), the global body for professional accountants, global economic instability could lead to a decline in direct environmental investments and reduce the rigour of future climate change legislation. |
The report includes recommendations for governments, policy makers and businesses ahead of December’s Conference of the Parties (COP15) U.N. Climate Change Conference 2009 in Copenhagen, Denmark.
"The dual challenges of climate and the economy have led to a unique opportunity to rebuild the global markets with systems sympathetic to climate change," said Helen Brand, chief executive, ACCA. "The trillion dollar bailouts of the banking sector prove that governments and businesses around the world can work together quickly to avert disaster."
ACCA’s report recommends that governments should respond to the economic conditions by implementing measures that will encourage environmental investments and a more sustainable approach from business.
"Businesses have a massive role to play here in how they communicate their commitment to a low carbon economy." "ACCA champions the extension of corporate reporting to include the social and environmental aspects of a business and has launched awards for sustainability reporting in Australia, New Zealand, Hong Kong, Malaysia, Pakistan, Singapore, South Africa, Sri Lanka, Canada and the U.S," Brand said.
The eight recommendations include:
"ACCA is concerned that without a coordinated strategy to tackle the financial crisis with sustainable efforts, the possibility still exists that stimulus and recovery packages may lock us into the root causes of climate change," Brand said. "If we follow the model of the banking bailout, we can achieve a sustainable, low-carbon, climate resilient future."
For additional information on ACCA’s report, please click here
ACCA is the global body for professional accountants with 131,500 members and 362,000 students, providing services through a network of 80 offices and centers around the world, including the US office in New York City.For More Information: PR Newswire