Institute of Chartered Accountants in England
& Wales (ICAEW) chief executive Michael Izza has warned that
now is not the time to ditch the sustainability agenda.

Izza explained that sustainability is not at
odds with profit and called for the accountancy profession to lead
the business sustainability agenda.

There has been a growing drive to implement
sustainability practices within businesses in recent years. But
there have also been concerns that due to the tough economic
conditions, companies may ditch sustainable practices to
concentrate their efforts on remaining profitable.

Speaking at the National Business Awards
business summit, Izza said the accountancy profession has an
important role in advising businesses, finance directors and chief
executives on driving new sustainable strategic directions.

Calling for greater innovation in the way
businesses respond to economic uncertainty, Izza argued
against maintaining existing business models and adjusting for
environmental and regulatory requirements.

“We have a significant opportunity before us
of thinking creatively and taking practical steps to achieving
change in the financial markets and systems that drive sustainable
outcomes,” Izza said.

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By GlobalData