Climate change is real, and it is having an increasing impact on organizations across the world. The governments across the globe are participating in driving measures in order to reduce global warming. These measures are likely to drive up certain business costs and at the same time present opportunities in terms of financial benefits for reducing carbon footprints.
Accountants can play a key role in supporting their organizations to understand the costs and benefits of adapting to the impacts of climate change policy, and to carry out investment appraisal of the opportunities that climate change presents. They also play a pivotal role in ensuring the organization recognizes in a timely way, the risks and opportunities presented by climate change in the day to day course of running the business as well as on its long term sustainability. Managing and mitigating climate change must be embedded in the decision-making process of the organization.
Key points:
- Analyzing the impact of climate change on organizations
- Identifying opportunities present for organizations in the climate change policies
- Accessing increased costs likely due to climate change
- Discussing new technological solutions
- Discussing Government policies and regulations
- Challenges faced by accountants due to climate change
- Zero Carbon living
This course covers the main, from the move to sustainable investing; to changing to zero-carbon; to the opportunities for technological innovation; to increasing regulation; and so on. For each impact, the course identifies the opportunities for organizations and how the finance team can support the organization through this aspect of change.
The key message is that accountants need to remain flexible and develop their skills to understand the potential costs and benefits that climate change will inevitably bring to their organization.
