ICAEW talks about sustainability at ‘Our Planet’ series

‘Our Planet: Too Big to Fail’ features the impact of investing into changes and uses footage from the Netflix series

by LYDIA NATHAN / pic source: icaew.com

THE Institute of Chartered Accountants in England and Wales (ICAEW) Greater China and South-East Asia has launched the second instalment of “Our Planet” series, in an aim to foster a conversation on how the finance sector can make changes in companies when it comes to sustainability.

“Our Planet: Too Big to Fail” featured the impact of investing into changes and used footage from the Netflix series, “Our Planet”.

ICAEW CEO Michael Izza (picture) said the series will focus on sustainable practices within the finance industry which includes five key actions.

“The key actions are under-standing and mitigating risks; seizing new opportunities; halting negative impacts; considering stakeholders; and building new systems,” he said at the virtual launch yesterday.

One of ICAEW’s goals is to advise and drive efforts into this area, particularly by meeting its own carbon reduction goals.

“We are the first professional body to be carbon neutral, and because we have so many members, we are glad to be able to participate in talks and conversations such as these,” Izza said.

UN Global Compact Network UK ED Steve Kenzie said it is important for companies to understand the landscape and its impact.

“The film talks about the negative impacts, but there are also positive ones to consider because any company can be a force for good,” he said.

The Covid-19 pandemic was a wake-up call for many companies, who were encouraged to allow employees to work remotely and realising that sustainability could be enforced this way.

PwC Malaysia assurance partner and net-zero leader Pauline Ho said to get started, small actions become gamechangers.

“Starting small sends the right signals for others to follow. For instance, in the industry, we actually print a lot, but with so many employees working remotely, we are printing much less.

“Real success can only come if there is a change in societies, politics and economies. The younger generation can also be a strong force in today’s age because most are aware of the impacts of climate change.

“We urge people to be empowered to make changes in their workplaces. We can also use and encourage brands that do the right thing, as well as use products that are sustainable,” Ho said.