December 2024
With COP29 taking place this month itâs a timely opportunity to look at the contribution accountants can make to achieving sustainability targets â and how ACCA qualifications can power them, writes Jacky Bateman.
As accountants, weâre in a unique position to make real, impactful change and be at the centre of sustainable development. From reporting on CO2 emissions to measuring social impact, the skills, judgement and data-informed view of business that professional accountants have, means you have a vital role in this area.
Choosing the right qualification is crucial because professional bodies provide external verification of learning, effectively combating the risk of âcompetence greenwashingâ. At ACCA, weâre strengthening and building a profession that drives a sustainable future for all, and this is demonstrated across our qualifications.
Sustainability in the ACCA qualification
Weâre preparing future generations of accountants to recognise the challenges and address the impact in their organisations by fully integrating sustainability across the ACCA qualification â in the exams, experience and ethics.
Sustainability is at the heart of the qualification and we incorporate it across all levels so that our students are developing knowledge and understanding of this important area at every level of their studies with the expected application of that knowledge deepening as they progress.
We update the ACCA qualification annually, which ensures the qualification remains relevant and that our future members remain current. We have covered sustainability topics in the qualification for many years, but this is a critical time for professional accountants as sustainability is significantly impacting on organisations and finance teams in particular.
While sustainability is covered throughout the qualification, with the launch of the IFRS Sustainability Disclosure Standards and the Corporate Sustainability Reporting Directive (CSRD) we have focused on how we introduce this new legislation into our Strategic Business Reporting and Advanced Audit and Assurance examinations.
We cover the new ISSB disclosure standards as well as awareness of the CSRD and the European Sustainability Reporting standards, and interactions/differences between them in our Strategic Business Reporting exam.
Sustainability is already included in other areas of the qualification such as strategy formulation and planning, decision-making, performance measurement, governance and risk management, and finance and investment.
We are proud that sustainability has featured extensively across the Strategic Professional level of the qualification for some time, ensuring our students are developing knowledge and understanding of this important area at every level of their studies with the expected application of that knowledge deepening as they progress.
In addition to exams, all ACCA students need to complete the practical experience requirement in order to become members.
Our performance objectives now include sustainability tasks and activities relevant for trainee accountants and weâll continue to expand the sustainability aspects within the practical experience requirements, to mirror the approach taken in the qualification exams.
More information on coverage of the qualification can be found in our syllabus and study guides. And for students wanting to read more about the impact of sustainability on finance teams, I encourage you to visit the Sustainability Hub on our website.
âAccountants and other professionals have a central role in informing, driving and embedding sustainable business and approaches across all sectors,â said Helen Brand, chief executive at ACCA. âUpskilling is vital if weâre to meet the increasingly urgent challenges of climate change.
âWeâre seeing increased demand for sustainability skills training and the adoption of sustainability reporting standards around the world, which is encouraging. But itâs only a start and we need to build more skills capacity and further sharpen our focus.â
ACCA Professional Diploma in Sustainability
In September we launched our new Professional Diploma in Sustainability. Developed in response to growing demand from businesses and professional accountants, it has been designed for finance professionals at all levels who are looking to gain a comprehensive understanding of sustainability and the award of a qualification to prove it.
Our research shows that businesses have concerns over the lack of essential skills to support the move to more sustainable business models and urgently need the skills to consider non-financial as well as financial business drivers. Once completed, the professional diploma provides a comprehensive accreditation in the core areas of sustainability.
This leading-edge qualification brings together high-quality learning support and assessment, aligning with the increasing demand from employers, as well as individuals, wishing to pursue the widening career opportunities related to sustainability, and emerging regulatory requirements around the world.
Enrollment is now open and learners can sign up through ACCA Learning, ACCAâs dedicated continuing learning platform for finance professionals. More information is available at www.accaglobal.com/ProDipSust
