In fact, sustainability is coming faster than you think, according to Accounting Today and Ernst & Young in an article and recent reports.
This is a great opportunity for CFOs to consider taking a leadership role with this emerging issue, which is making its way to CEO agendas.
E&Y's report, How Sustainability Has Expanded the CFOs Role, lists five ways CFOS can build corporate value through sustainability:
- Actively pursue sustainability reporting in your company (triple bottom-line).
- Ensure that sustainability reporting is not contained in operational silos. Think “integrated.”
- Use sustainability to increase dialogue with stakeholders in social and environmental issues.
- Use sustainability reporting to educate your directors and management team about social and environmental issues and risk management.
- Consider using nontraditional performance metrics in reporting on sustainability
Just last week at our MACPA roundtable with our business and industry CPAs, the issue of sustainability came up as an important emerging issue.
I see this as just another way for CFOs to take a leadership role in adding value and making a difference for their organizations.
How are you adding value?
More from CPA Success on the changing role of the CFO: