Wales, UK - Chartered Accountants Play A Key Role In The Fight Against Climate Change

Climate change and the impacts of it is on everyone’s mind, even if it isn’t at the forefront. We are all now much more aware of why it is happening, the issues it is causing and what needs to change to prevent further damage and many people and businesses have become very conscious of their individual responsibilities and what they can change to contribute.

The media covered the recent United Nations Climate Change Conference (COP26) held at the SEC Centre in Glasgow between 31st October to 13th November 2021, however since the conference has finished the media coverage has stopped in its tracks and moved on.

Currently, the world emits approximately 51 billion tons of greenhouse gases every year.

The pandemic and its effects have taken priority and focus globally over the last 2 years, however, this means precious time and momentum has been lost tackling climate change to dramatic change and action needs to happen.

The IPCC report in August highlighted the severity of the dangers of climate change. It stated if we are unable to limit the rise in global temperatures to 1.5°C there will be lasting damage to the planet. The assessments made by the IPCC are expecting the 1.5°C tipping point to happen by 2040. In the report, they also make the link between climate change and human activity for the first time.

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Climate change brings some significant and serious consequences to the world’s economies including:

- The impact on production globally

- Financial stability across the world

- Living standards in all countries, not only for the poor

- Global employment

- Political stability around the world

After the United Nations Climate Change Conference many more people are aware of the issues and are now asking, are we doing enough to stop the devastating impact of climate change from happening? Urgent action is needed quickly with longevity to limit its severity and damaging effects.

What is the role of the accountancy profession when it comes to climate change?

Accountants and finance professionals have the ability and power to make people accountable to drive changes to support climate change in individual businesses, their wider industries and the overall economy both financially and through their leadership.

A call to action against climate change statement has been signed by 13 chief executives of global accountancy bodies representing the accountancy profession. Globally, these organisations represent over 2.5 million accountants and students across 179 countries. They have called on the accountancy profession to act now to support the businesses and organisations they work with and for, to respond and take action with the urgency and action required.

Contact us today on 02920 777 756 and we can arrange for one of our expert accountants to contact you and let you know how we can help you.

You can read our full article here.