Accountants can help to save the planet but they can’t do it on their own, says Professor Richard Murphy.
A star turn at the recent ‘Accountants will save the planet’ conference, Murphy said we need consistent accountancy rules that force companies around the world to become net zero carbon compliant. That way, he explained, we can force companies to save the planet, too.
For Murphy, accountants will then become the biggest agents of change to help transform the world economy. But we have to change the rules of accountancy. He pointed out that right now there isn’t a single proposal to bring climate change onto the balance sheet of any company. “That is shocking, we have to recognise we are living in a climate crisis,” said Murphy.
Currently, what we have is soft voluntary standards. Only by introducing compulsory standards and law changes will we engender real change, he suggested.
• Check out more wise words from Murphy in our video interview below.
