With nature risk rising up the business agenda – the Global Accounting Alliance, a coalition of 10 leading accounting institutes representing over 1.4 million members worldwide, recognises that the profession needs to act. This is why at the beginning of March, the GAA launched its new guide titled “Why Nature Matters to Accountants: A Guide to Building Resilience and Value Through Nature-Positive Action.”
All businesses and our economies depend on nature – and, with nature declining faster than at any time in human history, this is not just an environmental crisis, it is an economic crisis too. This publication is a step forward in addressing the urgent need for the accounting profession to integrate nature-related issues into its work, and to be part of the solution in driving the transition to a sustainable, nature-positive economy.
Developed by ICAEW for the GAA, the guide explores how nature risk is linked to financial risk, and how nature connects to the professional responsibilities of accountants. It provides foundational knowledge and practical actions to equip accountants to lead and advise their organizations and clients on this business-critical issue.
A key concept highlighted in the guide is the capitals approach. This approach encourages businesses to consider all forms of capital—natural, social, human, and produced—when making decisions. By understanding the dependencies and impacts that a business has on these capitals, accountants can help to make more informed, sustainable choices that benefit both the organization and the environment.
Whether you are an accountant working as a board member, senior manager, analyst, report preparer or assurance practitioner – in any global jurisdiction – this guide will help you build resilience and create value by embedding nature into your work.
Find out more:
- Download the full guide on the Global Accounting alliance website here.
- Read a summarised version of the guide created by ICAEW here.
- Find out more about ICAEW’s work on nature and biodiversity here.
Toby Roxburgh – Sustainability Manager, Nature & Biodiversity ICAEW
