CPA Canada joins international accounting bodies in committing to Net Zero
TORONTO, October 6, 2021 – Chartered Professional Accountants of Canada (CPA Canada) is one of 13 accounting bodies from around the world publicly committing to achieving net-zero greenhouse gas (GHG) emissions within their own organizations, as well as providing an enabling environment for the professions’ memberships to do the same.
The impacts of climate change are already being felt throughout the world and the next decade is critical to limit its negative effects. With climate change comes potentially profound negative economic consequences including impacts on production, financial stability, living standards and employment, and more widely on social cohesion and political stability, along with the further degrading of the natural environment upon which we depend.
“We are pleased to be able to make this commitment along with other accounting bodies from around the world,” says Charles-Antoine St-Jean, president and CEO, Chartered Professional Accountants of Canada. “It is essential that we demonstrate conviction and leadership within our own organizations, if we are to earn the trust of businesses and other stakeholders and provide them valuable guidance as they strive to achieve net-zero commitments.”
The net-zero pledge comes from members of The Prince of Wales’s Accounting for Sustainability Project (A4S) Accounting Bodies Network (ABN) representing more than 2.5 million accountants globally.
“The accounting community plays a vital role in helping to tackle climate change, but many professional accountants are unsure where to start,” said Jessica Fries, Executive Chairman, A4S. “By committing to net zero GHG emissions, the leading professional bodies signing the ABN Net Zero Statement of Support are signalling the importance of action and committing to help those within their profession respond.”
There are two main reasons for accountants to be concerned about climate change. First, climate change is an economic risk – a risk that accountants from across the world must act on. Also, professional accountants have a responsibility to act in the public interest. Many argue that this responsibility must include helping organizations to address climate change.
The accounting profession is well positioned to play a significant and vital role in achieving climate change mitigation and adaptation within their organizations as well as with their clients. Professional accountants also have an important role supporting the development of policy and regulatory frameworks that enable an orderly transition to a net-zero greenhouse gas emissions economy.
“By mobilizing this army of professional accountants, all segments of the economy – from large to small – can be equipped with the knowledge and skills needed to create a sustainable future for us,” noted Fries.