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Sustainability
The CICA has demonstrated a long-standing commitment to encouraging improved corporate measurement of and reporting on economic, social, and environmental performance to capital markets and other stakeholders. For example, the CICA was a founding member of the Global Reporting Initiative (GRI), whose sustainability reporting guidelines are used around the world. The CICA’s efforts in this area are summarized in a Media Release, in which Kevin Dancey, President and CEO, emphasizes the importance of advancing sustainability accounting and reporting and encourages collaboration by all members of the Canadian business, government and investment communities.
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AICPA, CICA and CIMA publication - SMEs set their sights on sustainability: case studies from the UK, US and Canada
The AICPA, CICA and CIMA released a comprehensive research report highlighting the growing emphasis small and medium-sized enterprises (SMEs) are placing on sustainability. The report identifies how smaller companies can lead the market and become champions of sustainable practice, and reveals how the finance function can play a central role. Click here to download the report.
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IIRC Discussion Paper: Towards Integrated Reporting – Communicating Value in the 21st Century - launched Monday 12th September 2011
The Discussion Paper Towards Integrated Reporting – Communicating Value in the 21st Century considers the rationale for Integrated Reporting, offering initial proposals for the development of an International Integrated Reporting Framework and outlining the next steps towards its creation and adoption. Its purpose is to prompt input from all those with a stake in improved reporting, including producers and users of reports.
The IIRC welcomes general comments on the Discussion Paper as well as responses to the discussion questions set out. The deadline for submission is Wednesday 14th December. If you require further information, please contact dpresponses@theiirc.org.
This document is only available in English.
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AICPA, CICA and CIMA Research Study
The Chartered Institute of Management Accountants (CIMA), the American Institute of Certified Public Accountants (AICPA), and the Canadian Institute of Chartered Accountants (CICA) released a landmark survey measuring the state of accounting for sustainability in the UK and North America.
Media Release - Global survey findings on accounting for sustainability practices released by CIMA, AICPA and CICA
Study - Evolution of corporate sustainability practices - Perspectives from the UK, US and Canada - AICPA, CICA and CIMA research study
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Integrated Reporting
The CICA is pleased to announce its contribution to Harvard Business School's (HBS') e-book The Landscape of Integrated Reporting: Reflections and Next Steps. This publication is the product of HBS' October 2010 conference on integrated reporting, Developing an Action Plan for Integrated Reporting, which brought together investors, regulators, large corporations, NGOs, technology providers, academics, and other key stakeholder groups. The publication includes over 60 articles from workshop participants and encompasses a broad range of issues, from the conceptual design of an integrated reporting framework to strategic tactics for implementation.
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The Prince’s Accounting for Sustainability Project and the Global Reporting Initiative have announced the formation of the International Integrated Reporting Committee.
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The CICA is a member of the Accounting Bodies Network, established by The Prince’s Accounting for Sustainability Project (A4S) to bring together the largest accounting bodies from across the globe to help minimize the duplication of initiatives undertaken in isolation and to achieve a common approach to accounting for sustainability.
Established by HRH The Prince of Wales in 2004, the Project develops practical guidance and tools to enable environmental and social performance to be better connected with strategy and financial performance, and thereby embedded into day-to-day operations and decision making. At the launch of A4S, His Royal Highness articulated the aim of the project: To “help ensure that we are not battling to meet 21st Century challenges with, at best, 20th Century decision making and reporting systems.”
A4S has released the Connected Reporting ‘How To’ Guide, which incorporates three industry examples and includes an online interactive version containing examples of real-life reporting. It has also launched a book of case studies, Accounting for Sustainability: Practical Insights, which demonstrates how several leading public and private sector organizations have used accounting for sustainability tools and principles to embed sustainability into their mainstream decision-making and reporting.
In 2011, A4S will launch a community website in collaboration with the International Federation of Accountants. This will be a vibrant community for anyone with an interest in accounting for sustainability to discuss and share ideas.
Related Reading
Environmental, Social and Governance (ESG) Issues in Institutional Investor Decision Making. The aim of this Discussion Brief is to stimulate dialogue among interested parties about the demand for, and supply of, ESG disclosures used by institutional investors. The publication discusses findings from interviews with institutional investors, reviews existing regulatory requirements and relevant initiatives, and offers options for enhancing the provision and use of ESG disclosures.
Beyond Accounting - Assessing the Impact of Sustainability Reporting on Tomorrow's Business. This paper provides background on the current state of sustainability reporting and considers the evolution of disclosure models.
Competitiveness and Sustainability - Building the Best Future For Your Business. This report concludes that sustainability issues form a fundamental part of the operating context for any company.