ICAEW, in collaboration with Deloitte, today announces the launch of a dedicated climate change website and video learning programme for Institute members, finance professionals and non-executive directors.
The ICAEW and Deloitte joint initiative is designed to help businesses and finance professionals learn more about tackling climate change. Through the video learning resources, the first of two modules set out the impact that climate change is having on humanity and business, while the second equips businesses to implement change, manage risks and take advantage of the challenges and opportunities created by climate change.
A key feature of the programme is learning about considerations for financial statements and how to translate climate change effects into tangible measurements.
Veronica Poole, Deloitte NSE Head of Accounting and Corporate Reporting, said: "Climate change is an existential threat that demands urgent attention; there can be no more 'business as usual' if companies are to protect their value, manage risks and future-proof their organisations.
"We sought to launch this website because climate change is likely to drive some of the most profound changes to businesses in our lifetimes. Impacts on products and services, supply chains, loss of asset values and market dislocation are not only being caused by more frequent and severe climate-related events, but also by the accelerating pace of policy and regulatory change. Our programme sets out the business case for action and practical steps for change, with the principal goal to help companies place their climate change response as a key element of their business models."
Nigel Sleigh-Johnson, Head of Financial Reporting, Audit and Assurance at ICAEW, said: "Climate change is already having an impact on humanity and the natural world, and the implications for business should not be under-estimated. The downgrading of credit ratings and even bankruptcy, as a result of extreme weather patterns, are already real outcomes for some companies. For a business to adapt successfully to these impacts will require systematic change, and this cannot be achieved without understanding and involvement on the part of finance professionals."
Access the full learning programme and resources here: https://www.deloitte.co.uk/climatechange/