It’s risk management,” says Fischhoff. “There are also opportunities. For companies that get out ahead, there’s money to be made.” Fischhoff and her project co-manager, Monica Sood, CPA, CA, principal of sustainability, research guidance and support at CPA Canada, are overseeing the deliverables. They include: • briefs with the most relevant and actionable content from the literature review; • case studies and videos that show how accountants have helped public and


Two business approaches to climate change


MITIGATION


Reduce contribution to climate change


“The right thing to do”


Potential savings in energy efficiency


ADAPTATION Prepare for climate change impacts


Business issue


Economic opportunity for those who get out ahead


private sector organizations adapt to climate change; • thought pieces containing guidelines on the application of accounting competencies — risk management, performance management and audit assurance — to climate change adapta- tion; and • webinars and workshops that will be rolled out in the coming months.


Adding to the dialogue The initiative builds on earlier work that CPA Canada and the three legacy designations have done on sustainabil- ity. For several years, they have been involved with the landmark Accounting for Sustainability Project (A4S), launched in 2004 by the Prince of Wales. Among other goals, A4S works to “demonstrate the business case for including sustain- ability in organizations’ operations.” In March 2014, CPA Canada released


A Starter’s Guide to Sustainability Reporting (see cpacanada.ca/starters guide), which provides guidelines, planning tips and best practices. The profession has also published numerous guides and briefing documents and held conferences and information sessions about sustainability. Business issues related to climate


change are expected to grow as weather JUNE/JULY 2015 | CPA MAGAZINE | 13


extremes become more frequent and intense. Companies that heed the long-term forecast can reduce the impact — and take advantage of opportunities — while accountants play a major role. For more information about the


initiative, contact Monica Sood at msood@cpacanada.ca.


More on the business of climate change


Canada in a Changing Climate: Sector Perspectives on Impacts and Adaptation (Natural Resources Canada, 2014) bit.ly/1nxCNPH


Driving Climate Resilience through Carbon Mitigation (Carbon Disclosure Project Canada, 2014) bit.ly/1ulVicw


Natural Catastrophes: A Canadian Economic Perspective (TD Economics, 2014) bit.ly/1iNo9Bn


Understanding the Implications of Climate Change for Business (University of Cambridge, 2014) cpacanada.ca/climatebriefing


Climate Change and Related Disclosures (CPA Canada, 2008) cpacanada.ca/disclosureclimate


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