The Association of Chartered Certified Accountants (ACCA) has advocated for the adoption of sustainability reporting standards at COP29 Azerbaijan, held from 11 to 22 November 2024.
Through meetings and panel discussions, ACCA is raising awareness about how sustainability disclosures drive investment in sustainable businesses and the net-zero transition.
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ACCA is also emphasising the need for enhanced professional skills in sustainability.
The accountancy profession’s skillset is said to be expanding to include sustainable business, finance, and reporting.
ACCA said it is working to extend these skills as widely as possible.
It is ensuring that UN Climate Conference delegates understand the role small and medium-sized businesses (SMEs) play in achieving net-zero goals.
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By GlobalDataThe association has been at the forefront of climate change action within the accountancy profession.
This includes sharing best practices, creating knowledge hubs, collaborating with global partners, developing education, and learning opportunities, and providing guidance and toolkits on sustainability reporting.
Earlier this year, ACCA introduced a new Professional Diploma in Sustainability.
During COP16, the UN Biodiversity Conference in early November, ACCA launched ‘Empowering business: navigating nature-related reporting,’ urging accountants to understand nature-related reporting concepts, principles, challenges, and opportunities.
As COP29 commenced, ACCA published ‘Weathering the storm: building resilience against climate disruptions,’ highlighting businesses’ lack of preparedness for climate-related disasters.
As the conference concludes, ACCA plans to release ‘Sustainability guide to preparation: telling a connected story.’
ACCA Europe, Eurasia, Middle East and the Americas Public Affairs regional head Vikas Aggarwal said: “Financial professionals are in no doubt that huge investment is needed in clean energy and sustainable business. Part of ACCA’s role is to explain and amplify that message to business and government.
“That is why we were so pleased to be part of the discussion at COP29 Azerbaijan set up by the Global Capacity Building Coalition which ACCA is a supporter member. Over the week it has been highlighted how resilience will be key, as explored in our new report, Weathering the storm. A focus on skills development is crucial; we’ll continue to work urgently to play our part because the critical need is to take action.”
The latest announcement follows ACCA’s appointment of Datuk Zaiton Mohd Hassan as vice-president.
She previously served as Chair of the ACCA Malaysia Advisory Committee before her election to ACCA’s Council in 2016.
