CPA Canada initiative helps businesses adapt to climate change

TORONTO, May 5, 2015 /CNW/ - Chartered Professional Accountants of Canada (CPA Canada) announced today a multi-year initiative to help businesses and other organizations better understand and adapt to the implications of climate change.

CPA Canada is investing $375,000 in the $750,000 project, which is supported by Natural Resources Canada (NRCan) under the Enhancing Competitiveness in a Changing Climate program.

The growing frequency of extreme weather events, as well as the availability of water and other natural resources, is affecting organizations in Canada and around the world. These changes have given rise to a variety of operational, financial, reputational, legal and regulatory issues.

Canada's professional accountants have long been dealing with matters relating to climate change.

"Professional accountants hold key roles in finance, operations and risk management in every sector of the economy," says Kevin Dancey, CPA Canada's president and CEO. "These knowledgeable and skilled professionals can identify both risks and opportunities, which allows them to develop value-creating strategies. Their skills are more relevant than ever in meeting market expectations and business needs arising from environmental issues."  

CPA Canada's investment, which is matched with a contribution from NRCan, will enable CPAs to build on their already formidable skills and expertise to help their organizations or clients adapt to a changing climate. The initiative, managed by the Network for Business Sustainability, has already produced two case studies focusing on Winnipeg-based tourism company Frontiers North Adventures – a detailed written version and a specially produced video. The coming months will see additional case studies in the areas of transportation, financial services and the public sector. In addition, research briefs are being prepared.

Guidance on the application of existing accounting competencies is also being developed along with numerous professional development opportunities.

"The Government of Canada is committed to taking strong action on climate change while keeping the Canadian economy strong," says Canada's Natural Resources Minister Greg Rickford.  "This initiative will help Canadian businesses and accounting professionals understand how climate change affects their operations and will help equip them with the tools they need to continue to grow and adapt."

For more information, visit cpacanada.ca/climatechange   

About CPA Canada

Canada's accounting profession is uniting under a new single designation, Chartered Professional Accountant (CPA). The profession's national body, Chartered Professional Accountants of Canada (CPA Canada), represents and supports more than 190,000 members across the country. CPAs are valued for their financial and tax expertise, strategic thinking, business insight, management skills and leadership. CPA Canada has consolidated the operations of three national accounting bodies: The Canadian Institute of Chartered Accountants, the Certified General Accountants Association of Canada and The Society of Management Accountants of Canada. CPA Canada conducts research into current and emerging business issues and supports the setting of accounting, auditing and assurance standards for business, not-for-profit organizations and government. It also issues guidance on control and governance, publishes professional literature and develops certification and continuing education programs.

About NRCan's Adaptation Program

The Enhancing Competitiveness in a Changing Climate program is delivered through Natural Resources Canada's (NRCan) Adaptation Platform, which brings together Canada's institutional, financial and knowledge resources to enable development and widespread use of adaptation information and tools. The Platform fosters collaboration across Canada's provincial and territorial governments, Federal government departments, natural resource industries and professional organizations, to collaborate on shared adaptation priorities.

About NBS

A non-profit established in 2005, the Network for Business Sustainability is a network of international academic experts and business leaders. NBS produces authoritative resources on important sustainability issues – with the goal of shaping management practice and research. It connects thousands of researchers and professionals worldwide who are interested in corporate social responsibility (CSR) and who believe in the value of research-based practice and practice-based research.

SOURCE CPA Canada

Related Links

www.cpacanada.ca