Last week ICATT held its 14th Annual Conference 2023, themed “Charting A Resilient Future,” illuminating a critical role for accountants in shaping a sustainable world. Our COO, Aleema Ogeer-Ali and our team attend every year. A key highlight for Aleema this year was the Sustainability and Assurance panel discussion. The panel unveiled the urgency of addressing our carbon footprint, challenging the predicted timeline for rising sea levels, and underscoring the imminent threat to our planet. We are now where we were predicted to be in 2100, imagine that!
Moderator, Maria Daniel, Lead Partner, ESG and Sustainability at EY emphasized the collective responsibility of nations, revealing that only a select few are actively aligning their environmental initiatives with the goal to limit global warming to 1.5 degrees celsius. A stark map illustration painted half a continent in red, signaling a perilous future unless swift action is taken. As accountants, we emerged as potential superheroes with the power to measure and mitigate the environmental impact of business practices.
Our role in aligning with the Paris Agreement’s target of 1.5 degrees Celsius is pivotal, yet current trends indicate a significant shortfall. Daniel urged a holistic approach, stressing personal responsibility in energy and fuel consumption. However, the crux lies in transforming corporate and national policies to reverse our collective carbon footprint.
The call to action was clear: every individual, company, and nation must assess their practices to safeguard the planet for future generations. The profound impact of our choices on the well-being of our children and grandchildren necessitates immediate and decisive measures.
Maria Daniel highlighted the importance of integrating IFRS S1 and S2 into accounting practices for accurate carbon footprint reporting. The mantra, “what gets measured gets done,” resonated strongly, reinforcing accountants’ vital role in steering the global community toward a sustainable future.
The ICATT Conference 2023 not only charted the challenges but also illuminated the path for accountants to embrace their superhero status, contributing significantly to the critical mission of preserving our planet.
Let us rise to the occasion, measuring, reporting, and advocating for a sustainable world.
Did you attend the ICATT Conference? Connect with our COO, Aleema Ogeer-Ali at aleema.ogeer-ali@aegistt.com
