Event Details
In our first episode, we explore what sustainability means in the financial world and how CPAs play a pivotal role in creating a sustainable future.
Davinder Valeri, CPA, CA, director of strategy, risk, and performance with CPA Canada and EY Canada East Leader Anne-Marie Hubert discuss this critical shift in the future of our accounting profession.
Tune in to find out what you can do as a CPA to create a cleaner and more sustainable life for everyone.
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In this episode
- how environmental sustainability and accounting are related (00:35)
- how CPAs are playing a pivotal role in creating a better future (02:26)
- how 2020 shifted the financial conversation toward sustainability (02:54)
- the demand for standardization and consistency in climate-related financial disclosure (04:30)
- responsible investment and focus on EGS is growing ($3.2 trillion) (05:55)
- introducing EY's Canada East Leader Anne-Marie Hubert (07:07)
- how investors are leading the change towards a greener future (07:28)
- examples of sustainable financial products and the financial incentive they bring to the table (09:11)
- how the pandemic has accelerated sustainability efforts (10:37)
- why standards are so important (11:35)
- whether standardization measures should remain voluntary (13:57)
- how companies which have a serious impact on the environment can be convinced to release data (15:13)
- why moving too fast toward sustainability can cause crises (the human aspect of transition) (16:53)
- the roadmap to a sustainable future must include these eight things (17:47)
- the challenges of the uncertain future and the role of the CPA (18:06)
- what new CPAs should do to position themselves for success in this new space (20:14)
Key takeaways
- There are a significant number of Canadian EGS funds that are outperforming their non-ESG counterparts. ESG momentum is not slowing down.
- Investors are leading the change when it comes to sustainability efforts. There is an expectation for corporate Canada to step up and do better.
- Green bonds are financial instruments where you get a bond on the basis that you are committing to do better.
- The majority of companies who are large emitters around the world have plans to get to Net Zero by 2050-2060.
- The roadmap to a sustainable future must include: clean electricity production, transmission, storage; clean hydrogen production, transmission, storage; carbon capture and a carbon market.
- Canada must invest in the necessary infrastructures to support the transition to a sustainable future. Coordinated leadership is also necessary. We have the opportunity to be a global winner in this space.
Disclaimer: The views and opinions expressed in this podcast are those of the guest and do not necessarily reflect those of CPA Canada.
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