CPA Canada aligns with global accounting bodies to address climate change

TORONTO, Feb. 25, 2020 /CNW/ - Chartered Professional Accountants of Canada (CPA Canada) and other accounting bodies from around the globe have issued a call to action for the profession in response to climate change.

The multi-signature statement urges "the accountancy profession to act now to help the organizations they work with respond to climate change with the urgency and scale required." The call to action is signed by the CEOs of 14 accounting bodies representing 2.5 million accountants and 181 countries worldwide, including more than 217,000 Canadian CPAs. The accounting bodies are all part of the Accounting Bodies Network (ABN) run by The Prince of Wales's Accounting for Sustainability Project (A4S).

The call to action notes that climate change impacts "are already being felt throughout the world." The effects of those environmental issues will differ by sector and by region.

"CPA Canada is already making positive contributions to help its members, governments and the business and investment communities adapt to a continuously evolving operating landscape," says Gord Beal, the organization's vice-president, research, guidance and support. "Canada's professional accountants are well positioned to assist the country in meeting its national environmental goals but, if there is to be a just transition to a net-zero emissions economy, the needs of all sectors must be considered."

Beal adds: "Sustainable growth and social development must go hand in hand; political leaders and regulators must pledge to not only protect the environment but also commit to growing the economy by addressing the concerns and hurdles faced by some sectors."

The statement points out that the "profession can play a significant role in achieving both climate change mitigation and adaptation at the individual business, industry sector and economy-wide levels." It also notes that these multifaceted challenges will require collaborative efforts with other stakeholders to achieve solutions.

In Canada and around the world, professional accountants have a vital role to play in helping organizations to address emerging challenges and opportunities. "Our profession can assist in identifying the most relevant issues and their potential impact on performance and prospects," explains Beal.

The commitments made by those signing the call to action include providing members with the training and support required to deal with climate change. In addition, they commit to supporting relevant market-based policy initiatives, consistent and well-considered regulation, and more useful disclosure.

"The action plan is a collective approach to have the profession adopt a greater sense of attentiveness about climate change and a keenness to address the issue," stresses Beal. "It represents an opportunity for the profession to be proactive, collaborative and play a leading role in the development and execution of long-term strategies aimed at climate-change mitigation and adaptation."

For further information on A4S and to review the Call to Action statement, click here: http://www.accountingforsustainability.org/abn-climate-action. Further details on the ABN can be found here: http://www.accountingforsustainability.org/abn.

For CPA Canada sustainability and climate change actions and guidance, visit: cpacanada.ca/sustainability.

About CPA Canada

Chartered Professional Accountants of Canada (CPA Canada) represents the Canadian accounting profession, both nationally and internationally. Operating in the highly complex and global accounting eco-system, CPA Canada is a convener, facilitator, contributor and disseminator of information that advances the profession. The organization works closely with the provincial, territorial and Bermudan CPA bodies to champion best practices that benefit business and society. With more than 217,000 members, CPA Canada is one of the largest national accounting bodies in the world. The organization supports the setting of accounting, auditing and assurance standards, advocates for economic and social development in the public interest, and develops leading-edge thought leadership, research, guidance and educational programs. To learn more, visit cpacanada.ca

SOURCE CPA Canada