The accountancy profession must help drive the migration to sustainable economies and businesses by becoming experts in green finance, says a new report from ACCA ‘Green finance skills: the guide’.
At a time when access to cheaper capital is more vital than ever to an organisation’s survival, access to green finance can be a lifeline to businesses. However recent research by ACCA and the Institute of Management Accountants (IMA) reveals that business are unsure about climate finance opportunities and climate risk management. Some 59% of the respondents to the Global Economic Conditions Survey Q2 2022 said they are not considering using green finance products – an opportunity that must be addressed.
Report author Emmeline Skelton said the professional needs upskilling, especially in volatile times, where access to capital including green finance is critical for an organisations long-term survival.
Sustainability is already firmly integrated within the ACCA core qualification as one of the seven capabilities it believes all professional accountants need. All ACCA students cover topics such as the Integrated Reporting framework, social and environmental audits, environmental management accounting, the measurement of environmental and social performance, and the impact of sustainability issues on strategy formulation, business performance and financial decisions.
The full report can be accessed at www.accaglobal.com/greenfinanceskills.