CFO Leadership Network unveils sustainability initiatives

Initiatives to help finance professionals create “sustainable business models and a resilient economy”

CFO Leadership Network unveils sustainability initiatives

Environmental

By Lyle Adriano

The Canadian Chapter of The Prince’s Accounting for Sustainability (A4S) CFO Leadership Network has announced three new initiatives to help promote sustainability in the financial industries.

The Network is composed of CFOs from major organizations that are looking to weave environmental and social issues into strategy and business processes.

In an event in Toronto, the Network announced the following projects:
 
  • Managing the future today: ways to develop a strategic response to the risks and opportunities posed by major social and environmental trends.
 
  • Social and human capital accounting.
 
  • Incentivizing action: the role of the finance team in encouraging suppliers, customers, investee organizations and others along the value chain to take action on sustainability.

“Canada 150 provides us with the opportunity to look back, but also to consider what the future holds. We are facing a defining moment in history as we seek to build a prosperous, inclusive society in the face of huge challenges such as climate change,” said CFO Leadership Network Canada co-chair and former Canada Pension Plan Investment Board CFO Benita Warmbold.

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“As CFOs, we have come together with the aim of making a tangible contribution by transforming approaches to finance and accounting so that the environment and society are truly integrated into decision making.”

According to a release, the projects “will offer practical advice and solutions to support finance professionals to build sustainable business models and a resilient economy.”

“These projects will help us and the wider finance community to utilize open discussion and collaboration among peers to address social and environmental challenges,” said Brookfield Asset Management and CFO Leadership Network member Brian Lawson.

“For Brookfield, understanding the value of the social and human capital that we create is fundamental, both to our own success and the contribution that we make to society. Similarly, we can have a significant impact by analysing our value chain and identifying ways to incentivize action towards sustainable outcomes.”

“Practical approaches and examples are needed to help organizations overcome ever-evolving challenges especially in today’s global economy,” added Jessica Fries, executive chairman of A4S. “These projects will help CFOs and finance teams make a tangible contribution to their organization’s purpose and profitability, as well as the wider economy, environment and society.”


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