We recently held an insightful event in conversation with Karen McWilliams, Business Reform Leader at Chartered Accountants, ANZ. The topic for this event was “How companies can create a more sustainable world”.
Sustainability is important for all organisations. SMEs have a critical role in reshaping everyday business models with the future in mind because we simply cannot continue with business as it is today. It is estimated that humans would need 4.1 Earths if the world’s 7.6 billion population lived like Australians in 2018. With consumption in Australia at a high, what can SMEs do to take sustainable action? In this informative event, Karen McWilliams provides an outline of the Chartered Accountants playbook: How SMEs can create a more sustainable world.
Event poll: Is sustainability a priority for your organisation?
Sustainability operations are gathering pace. Don’t get left behind.
Embedding sustainability into decision-making is not just good for the planet, but good for your business. Having sustainability goals and values attracts top talent and investors. Ensuring that you are aware what goes on across all areas of your supply chain sends the message that you are accountable for your business actions and raises your profile.
The finance function was once seen as a blocker for sustainability, looking at situations from a black and white perspective. Decisions are now in shades of grey, with no clear right or wrong answers. Focusing on this grey space and making goals clear for your organisation not only builds resilience and innovation, but also can cut costs and create more value for the business. The move towards sustainability is a purchase order for the future, and we must deliver.
85% of retail investors say their confidence in sustainability information would increase if it was subject to independent assurance.
Where to start? The Universe of Sustainability Issues:
Event poll: Are you responsible for implementing sustainability into your organisation?
Event poll: How ready are you to implement sustainability into your organisation?
“My role is to make myself redundant.” – Sustainability Manager
What can you do in the climate environment space?
- Understand your carbon footprint.
- Set targets and goals.
- Be accountable. For example, become a certified company on Climate Active.
Areas you can start focusing on now
- Green Finance
Invest in businesses with climate as a priority.
- Waste reduction and recycling
Reduce use of plastics made with fossil fuels, repurpose as much as you can a buy sustainably.
- Human rights and inequality
Investigate supply chains using a risk-based approach and ensure that you are complying with the Modern Slavery Act.
- Diversity and inclusion
Examine your own organisation. Create an inclusive workplace with equal opportunity for all by accelerating the careers of women and underrepresented groups.
- Sustainability mapping
Understand your business activities and sustainability progress. Gather the appropriate data, keep it simple and pick the low-lying fruit that can deliver the most impact.
- Integrity
Reporting standards cascade down the supply chain, and by adopting voluntary standards, SMEs demonstrate commitment and set an example for others. Claims of non-financial performance need to be backed by evidence. Beware of greenwashing, even if it is well-intentioned.
Additional Resources
- TCFD Online Learning Hub
- Chartered Accountants – Elective: Sustainability for Accountants
- UN Global Compact
- The UN’s 17 Sustainability Goals
At Moir Group, our core belief is that a satisfying job leads to a fulfilling life. We will be running a series of expert-led events and publishing articles across the year, all designed to help you to navigate the jobs market in these challenging times. Find out more on our Learning and Events hub.
If you have any accounting or finance related recruitment needs in your team, or you’re looking for a role yourself, we would be delighted to assist. We cover all roles, permanent and temporary, from Assistant Accountant to CFO.
Please do not hesitate to get in touch on (02) 9262 4863 or email us here.