IFAC has launched its Sustainability Framework, a new web-based tool designed to help professional accountants influence the way organizations integrate sustainability into all elements of their operation, including objectives, strategies, management, and even definitions of success.
The Framework, is targeted for professional accountants in a wide range of sectors, such as commerce, industry, education, public, and not-for-profit. It promotes the injection of sustainability leadership throughout the full management cycle-from making and executing strategic decisions, to performance reporting to all stakeholders.
The framework was developed with four different perspectives, each of which offer users specially-tailored advice and resources:
- Business Strategy: Emphasizes the importance of adopting a strategic approach. Sustainable development is made a part of strategic discussions, objectives, goals, and targets. This fosters support by leadership;
- Internal Management: Focuses on achieving integrated management systems. Sustainable development and environmental accounting is integrated into existing accounting/information systems. Advice is included on improving energy efficiency, reducing waste, and improving the bottom line;
- Financial Investors: Concentrates on telling the story to investors. Advice is given for incorporating environmental and other sustainability issues into financial statements that support an organization's stewardship role; and
- Other Stakeholders: Considers methods for achieving wider transparency. Among the issues addressed are non-financial reporting within a broader set of stakeholder expectations, as well as reporting climate change issues and emissions.
Any comments on the framework, including suggestions for its improvement, are welcome and can be sent to Stathis Gould, Senior Technical Manager, PAIB Committee (stathisgould@ifac.org).