Global Knowledge Gateway


The importance of sustainability and corporate responsibility continue to gain recognition; indeed, organizations that embrace sustainability can enhance their reputation with stakeholders and their value. The intersection of business and sustainability has three key dimensions: economic viability, social well-being, and environmental responsibility. Accountants work in this area to help embed sustainability factors into an organization’s strategy and decision-making processes to achieve sustainable value creation. Read More


When Does the Climate Risk Tsunami Arrive?

by Stathis Gould, Head of Professional Accountants in Business | May 28, 2014 | 1

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. Read More

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Five Ways CFOs Can Support Better Management of Natural Capital
by Sandra Rapacioli, Head of Sustainability Research and Policy, Chartered Institute of Management Accountants | May 20, 2014 |

Natural capital—forests, air, rivers, minerals, oceans, land—is the bedrock of life and underpins all other forms of capital, including financial. Society, economies, and businesses rely upon this natural capital for survival. But do businesses’ understand the extent to which they do? How can CFOs and management accountants support better management of natural capital and ecosystems? Read More


Bringing the Global Perspective to the Individual Level
by Vincent Tophoff, Senior Technical Manager IFAC | May 16, 2014 |

IFAC staff recently created a new sustainability group to connect and exchange ideas on sustainability issues at the global and local level. Read More


Using Management Accounting to Drive Environmental Performance
by Anthony Pember, Chief Executive Officer, Pilbara Group; Mark Lemon, Manager, Global Public Sector Practice, Grant Thornton LLP; and Stathis Gould, Head of Professional Accountants in Business, IFAC | April 25, 2014 |

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? Read More

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Another Reporting Framework? Yes, but a Valuable One
by Dr. Jarlath Molloy, CPhys, Climate Disclosure Standards Board Technical Manager | April 1, 2014 |

Given the long list of voluntary environmental and sustainability reporting frameworks, and guidelines available—from GRI, ISO, CDP, OECD, the UN, and many more, plus a few more on the horizon from the IIRC and SASB—is another one really necessary? The Climate Disclosure Standards Board says yes—a framework that allows investors to assess the relationship between environmental performance and risks and the organization’s strategy and prospects. Read More


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