The ICAS public voice – sustainability post-covid
As we begin to emerge from Covid-19, an overarching theme of the public policy work undertaken by ICAS is in relation to sustainability goals and accountability.
ICAS has a public interest remit, a duty to act not solely for its Members but for the wider good.
COP26 takes place in 2021 in Glasgow, and ICAS will play its part in increasing awareness pertaining to environmental and other sustainability issues and to actively promoting the contribution of chartered accountants to this vital agenda. And we’ll do this in Scotland, the UK, and beyond.
For example, ICAS is leading a working group within Chartered Accountants Worldwide on Climate Change in the runup to COP26, and beyond, to help galvanise the profession globally to tackle the issue of climate change. ICAS is also a member of the UK Government’s Green Taxonomy and Sustainability Standards Stakeholder Group which has been established to inform and shape the development of a UK Green Taxonomy.
We’re also delighted to team up with Chartered Accountants Ireland and ICAEW to celebrate our Members leading the way in the Race to Net Zero. With COP26 approaching, the race is now on for all governments and organisations to demonstrate the urgency with which they are tackling the issue of climate change.
BEIS held a consultation on mandatory climate-related financial disclosures for publicly quoted companies, large private companies and LLPs, to which ICAS contributed.
Sustainability has also become a key issue for global standard setters and ICAS responded to the IFRS Foundation consultation on the need for global sustainability reporting standards and the role of the IFRS Foundation in the development of such standards.
Sustainability is a key thought leadership theme for ICAS, and there are some new initiatives in the pipeline for late 2021, and 2022.