Are organizations using management accounting tools, such as activity-based costing and management (ABC/M), to manage environmental impacts? As with a traditional ABC/M model, an environmental ABC/M model leverages an organization’s emissions inventory and GHG footprint, and assigns that footprint to particular products, services, and activities. So why isn’t such a model more widely used?
Shell and ExxonMobil recently released reports for shareholders on climate change and carbon asset risk—they show the potential influence of concerted shareholder activism and indicate sophisticated management accounting practices underlying their decisions and management processes.
The Climate Disclosure Standards Board’s proposals for boundary setting in reporting are of practical assistance to professional accountants as they cover boundary setting for non-financial reporting purposes generally as well as for climate change or environmental reporting purposes.
Research shows that integrated thinking and reporting can have a positive impact on the type of investors your company attracts—those who are in it for the long-term and looking for sustainable value creation.
A circular economy is one that produces value without producing waste; management accountants can help their companies develop sustainable business models that move them closer to a circular economy for the benefit of their customers, society, and the organization.
Professional accountants need to consider how they apply their professional judgment to support rigorous project and investment appraisal—this is the hallmark of being a professional.
The British Standards Institute is looking for your input and feedback on its guide to management accounting principles.
The accountancy profession can play an important role in helping society mitigate and adapt to the challenges of climate change.
New guidance from IFAC and the IIRC, Materiality in Integrated Reporting, provides guidance on applying materiality in integrated reporting and supports implementation of the IIRC’s International Integrated Reporting Framework.
The historic agreement between the 193 UN member states on the 17 Sustainable Development Goals is only part of the beginning; businesses play a crucial role in achieving many of the SDGs, and are falling short. Now is a time for focus on the expectations of boards through governance requirements as well as on how more transparency can shine a light on performance and actions.