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Climate

What's the role of the accountancy profession?

Climate change is a crucial issue for the accounting profession. Time is running out to take action, and ICAEW and its global community of members are driving the change to protect the environment for future generations. Are you professionally ready to mitigate the risk and maximise the opportunity of climate change? Find inspiration, information and practical resources to support the goals set out in the Paris Agreement and in the UN Sustainable Development Goals.

 

Explore climate

Leadership  |  Emissions reduction  |  Adaptation
Climate finance  |  Climate reporting

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Climate for SMEs: where to start, how to mitigate the effects of climate change and adapt into the future.

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Featured content

Net Zero Accountancy Protocol

Professional bodies collaborate to develop a sector-specific guide to help accountancy firms reach net zero.
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Leadership

Report
Wind farm 28 Jul 22
Powering the labour market

The report finds that expanding solar and wind power has the capacity to create thousands more secure and skilled jobs across the whole of the UK, helping to reduce the cost of living, improve energy efficiency and advance the levelling up agenda.

Plastic bottles on orange background 6 December 2021
Plastic packaging tax to be introduced in 2022

Just months out from new plastic packaging taxes, businesses need to be ready for government measures to reduce plastic use and pollution. Prinal Nathwani, Holly Grantham and Jayne Harrold take a look at the proposed regimes in the UK and in Spain and Italy.

Video
Evelyn Acham 17 Nov 2021
What it’s like being a climate activist in Uganda

The world needs activists to bring the biggest problems into stark relief, argues Evelyn Acham – the more the better.

Video
Adair Turner 11 Nov 2021
Adair Turner: The mistakes we’ve made on climate, and where to focus now

The inaugural chair of the Climate Change Committee explains how the climate crisis breaks down into two distinct problems and discusses our chances of resolving them.

Video
Michael Izza 3 Nov 2021
Michael Izza on the role of chartered accountants in tackling the climate crisis

Michael Izza, chief executive of ICAEW, tells chartered accountants how they can use their skills and experience to fight the climate crisis.

Article
An electric car charging in a car park 29 Oct 2021
Climate change: the basics on getting started

Rebecca Self, Director of Financial Services and Isabel Hagbrink, Director of Communications at project developer and climate consultancy South Pole speak to ICAEW Insights about how businesses can get started on making a positive change for the climate.

Article
The edge of a forest, with the land up to that edge littered with felled trees. 29 Oct 2021
Six ways to embed climate change risk management

Company directors need to treat climate change risk as a key risk to their business, and do so as a matter of urgency, a joint report from the Chartered Institute of Internal Auditors and British Standards Institution shows.

Article
Aerial shot above a circular fish farm in a loch, Scottish Highlands, United Kingdom 05 Oct 2021
Let’s hear it for the blue economy

The oceans capture carbon, regulate temperatures, and protect from severe weather events. They are also our heroes in helping us achieve the sustainable development goals so let’s applaud them.

Emissions reduction

Article
cycle to work 15 September 2022
10 Carbon Reduction Tips For Your Business

Net Zero Now have compiled a list of the top things you can do in your business or practice to reduce your carbon impact.

Article
Electric car being charged 4 January 2022
The tax-efficient benefits of electric company cars

Sam Inkersole explains how electric company cars offer a favourable benefit in kind for employers and employees alike.

Article
Can tax policy help the UK achieve net zero article image 28 Feb 2022
Can tax policy help the UK achieve net zero?

Anita Monteith considers how policy levers can affect the most polluting sectors of transport, construction, power generation and industrial emissions, and wonders how governments can make up for the lost revenue from fuel duty.

Article
A person operating a tablet showing charts 07 Dec 2021
Pledge net zero 2022: carbon offsets from a programme you can visit

Where to start? That is the question lots of companies will ask their trusted adviser as they seek to meet their net zero pledges. Carbon offsetting is part of the mix, especially in the early stages of a net-zero pathway, but wouldn’t it help if companies could visit the projects they invest in?

Article
A landscape on fire 11 Nov 2021
Drax: how finance can power ‘carbon negative’ energy generation

Drax’s senior finance manager Chris Simpson explains how finance is helping achieve the former coal power station’s goal of becoming the world’s first ‘carbon negative’ energy generator - the success of which is critical to the UK achieving its own net-zero goals.

Video
Earth and Sun 21 October 2021
ICAEW’s journey to carbon neutrality - start yours now

In quarter three of 2020, ICAEW became the first professional body to achieve carbon neutral status. Our journey started in 2015; we measured, set targets and took small achievable steps to ensure we reduced our impact on climate change.

Adaptation

Article
A person grocery shopping in a plastic-free shop 01 Dec 2021
Accountants should translate energy costs into carbon data

Angus Douglas, group finance director at Star Refrigeration, says accountants are well-positioned to translate pound notes into grams of carbon.

Article
Flames and smoke from a forest fire 22 Nov 2021
Climate change must be part of your business plan

Climate change risk must be embedded into business risk planning, backed by cohesive policy changes from government, says GARP Risk Institute president.

Article
Wind turbines in fields 16 Nov 2021
Hospitality targets ‘triple bottom line’ approach for recovery

Organisations in the hospitality sector are being urged to bolster their green credentials to meet the growing sustainability demands of both customers and potential staff as the sector looks to capitalise on the long-awaited rebound.

Article
A piece of an iceberg collapsing into the sea 05 Nov 2021
Redesigning the system: the biggest job in finance

Restructuring the international financial system will help make money work toward preventing climate change, rather than accelerating it, a cohort of 40 businesses says.

Article
public sector thumbnail 01 Oct 2021
Addressing the climate emergency in the UK public sector

The UK has a lot of work to do and a dwindling amount of time in which to do it.

Climate finance

Report
Garden allotments seen from above 15 Nov 2021
Green finance: ASEAN & UK perspectives

Insight gathered from interviews with experts across a range of disciplines in ASEAN and the UK, on the role that finance can play in addressing the risks associated with climate change.

Article
A vast field filled with rows upon rows of solar panels 03 Nov 2021
Policy performance bonds are a climate action “game changer”

A financial instruments expert has urged the UK government to issue bonds linked to its climate targets as a means to show commitment to its sustainability objectives, as their use across the corporate sector continues to ramp up.

Article
A city lit by a red sunset 28 OCT 2021
Greenwashing: rising regulatory temperature for financial services

In advance of COP26, Financial Services Faculty Board member Nikesh Pandit, Barrister at 4-5 Gray’s Inn Square, and Alessia de Quincey, Solicitor Advocate at Boies Schiller Flexner LLP, explore the financial services regulators’ increasing focus on greenwashing, and how they might use their existing powers to prevent it.

Article
The moon seen through smoke coming from a smokestack 19 Oct 2021
Green finance roadmap sets out government’s sustainability expectations

HM Treasury has published its roadmap for the transition to a greener financial system. Importantly for the accountancy profession, it sets out plans for implementing sustainability disclosures.

Climate reporting

Article
A polar bear on ice 12 Sep 2022
FRC launches best-practice guide for managing ESG data

Guidance provides corporates with adaptable model for thinking about how to optimise the ways they collect and utilise data on ESG themes.

Article
A dusky horizon with silhouettes of smoking industrial buildings and electricity pylons 05 Aug 2022
Improvement needed for reporting under new climate rules

Separate reports from the FRC and FCA indicate that premium listed companies have made significant progress in the quality of climate-related reporting, but more needs to be done.

Hub
Inside the Wave in Arizona 14 Dec 2021
Paris-aligned accounts

The Paris Agreement aims to achieve net zero emissions globally by 2050. Reaching these goals will require action from all. ICAEW explores how accountants in business and practice can align corporate reporting to the Paris Agreement objectives.

Hub
Woman in hijab sitting at table with multiethnic politicians answering questions during a press conference 08 Dec 2021
ESG assurance

The expectations of financial services organisations and other corporates are changing fast. Profit cannot be the only measure of success – environmental, social and governance principles need to be observed and taken into consideration to satisfy a broad range of stakeholders.

Article
Two zebra 23 Nov 2021
Financials remain woefully short on climate information

Barbara Davidson, Senior Analyst – Regulatory and Accounting at the Carbon Tracker Initiative says that without an understanding of the impact of energy transition on company financials, the extent of capital at risk – and whether funds are being allocated to unsustainable businesses – remains largely unknown.

Article
A striped rosemary beetle 15 Nov 2021
Climate change is paramount for annual reporting

Climate change and energy transition is the biggest challenge the world is facing. It is paramount for Shell and front of mind when developing its annual report and financial statements, says Edwin Kunkels, Vice President Group Reporting and Deputy Controller at the company.

Article
Four people at a table talking to each other with papers and a laptop 01 Dec 2021
Sustainability reporting: why should SMEs care?

Call it the pandemic effect, but the penny is finally dropping that environmental and social reporting is becoming the responsibility of all practitioners and companies – not just large complex organisations and their advisers. Johan Barros, EU Policy Manager at Accountancy Europe, explains.

Article
A person holding a crate in a commercial greenhouse 16 Dec 2021
How to reflect climate risks in the financial statements

As the 2021 reporting season approaches, businesses increasingly face questions from investors about how their accounts reflect climate-related matters. Here’s how businesses, audit committees and auditors can address them.