In this week’s Sustainability/ESG bulletin, read about the call to action in response to the global nature crisis signed by the chief executives of the world’s leading accountancy institutes, including Chartered Accountants Ireland. Also covered is the message of hope in the second report from the Intergovernmental Panel on Climate Change (IPCC), a European Commission survey on SMEs’ needs in their green transition, and a podcast on how accountants can tackle modern slavery. 

In the news

Institute signs call to action in response to the nature crisis 

On Thursday March 3 – World Wildlife Day – Chartered Accountants Ireland joined a call to action in response to the nature crisis. The call to action  ‘Nature is Everyone’s Business’ was signed by the chief executives of the world’s leading accountancy institutes working together as part of the of the Global Accounting Alliance (GAA), a forum representing over 1,400,000 members in over 180 countries around the globe. 

Every business relies on nature. Healthy societies, resilient economies and thriving businesses depend on an ecosystem on which they have an impact, and which impacts on them. And that ecosystem is under severe threat. Our natural world is facing one million species under the threat of extinction, with a consequent impact on the environment in which we live and work.  

In a united statement the GAA CEOs said:  

“We recognise that our planet is being impacted by a three-fold crisis of a climate emergency, dramatic nature loss and rising social inequality. Addressing these challenges will require integrated thinking as companies reallocate resources, reorient production and reimagine their business models. We all depend on nature, but it is the poorest in the world who are disproportionately affected by its loss and impacted by climate change. Protecting nature must be a key consideration as we collectively move forward.” 

Commenting Barry Dempsey, Chief Executive, Chartered Accountants Ireland said: 

“I am pleased to add the Institute’s voice to this call for action. Nature truly is everyone’s business, and it is vital that we reverse the process of nature loss, for the planet and for the economy. Accountants as strategic advisors to business must be part of the solution by supporting investment that protects and restores nature, and by contributing to disclosure on biodiversity-related risks and impacts. We will equip our members to take action through our education and advocacy work on their behalf.” 

You can read the full press release here.
For more information on accounting for nature, visit our Sustainability Hub and read our article on how your business can make a positive difference to the nature crisis.  

"Starting today, every action, every decision matters" – a focus on solutions in the latest IPCC report on climate change 

Another landmark report on climate change was published this week warning that the world has “a brief and rapidly closing window of opportunity to secure a liveable and sustainable future for all”.  

However, it sounded a message of hope that there is still time – albeit limited – to adapt to the worst of its affects. Read more here. 

European Commission asks for feedback on SMEs’ needs in their green transition 

The European Commission has published a survey asking for stakeholders’ input to help set up a so-called Covenant of Companies for Climate and Energy (CCCE). The survey asks stakeholders: