ICAS

Quicklinks

  1. About Us

    Find out about who we are and what we do here at ICAS.

  2. Find a CA

    Search our directory of individual CAs and Member organisations by name, location and professional criteria.

  3. CA Magazine

    View the latest issues of the dedicated magazine for ICAS Chartered Accountants.

  4. Contact Us

    Get in touch with ICAS by phone, email or post, with dedicated contacts for Members, Students and firms.

Login
  • Annual renewal
  • About us
  • Contact us
  • Find a CA
  1. About us
    1. Governance
    2. ICAS Strategy 2030
  2. Members
    1. Become a member
    2. Newly qualified
    3. Manage my membership
    4. Benefits of membership
    5. Career support
    6. Mentoring
    7. CA Wellbeing
    8. More for Members
    9. Area networks
    10. International communities
    11. Get involved
    12. Top Young CAs
    13. Career breaks
    14. ICAS podcast
    15. Newly admitted members 2022
    16. Newly admitted members 2023
  3. CA Students
    1. Student information
    2. Student resources
    3. Learning requirements
    4. Learning updates
    5. Learning blog
    6. Totum Pro | Student discount card
    7. CA Student wellbeing
  4. Become a CA
    1. How to become a CA
    2. Routes to becoming a CA
    3. CA Stories
    4. Find a training agreement
    5. Why become a CA
    6. Qualification information
    7. University exemptions
  5. Employers
    1. Become an Authorised Training Office
    2. Resources for Authorised Training Offices
    3. Professional entry
    4. Apprenticeships
    5. Learning redefined
  6. Find a CA
  7. ICAS events
    1. CA Summit
  8. CA magazine
  9. Insight
    1. Finance + Trust
    2. Technology
    3. Finance + EDI
    4. Finance + Mental Fitness
    5. Finance + Leadership
    6. Finance + Sustainability
  10. Professional resources
    1. Anti-money laundering
    2. Audit and assurance
    3. Brexit
    4. Business and governance
    5. Charities
    6. Coronavirus
    7. Corporate and financial reporting
    8. Cyber security
    9. Ethics
    10. Insolvency
    11. ICAS Research
    12. Pensions
    13. Practice
    14. Public sector
    15. Sustainability
    16. Tax
  11. CPD - professional development
    1. CPD - Everything you need to know
    2. CPD courses and qualifications
    3. CPD news and updates
    4. CPD support and advice
    5. Career support
  12. Regulation
    1. Complaints and sanctions
    2. Regulatory authorisations
    3. Guidance and help sheets
    4. Regulatory monitoring
  13. CA jobs
    1. CA jobs partner: Rutherford Cross
    2. Resources for your job search
    3. Advertise with CA jobs
    4. Hays | A Trusted ICAS CA Jobs Partner
    5. Azets | What's your ambition?
  14. Work at ICAS
    1. Business centres
    2. Meet our team
    3. Benefits
    4. Vacancies
    5. Imagine your career at ICAS
  15. Contact us
    1. Technical and regulation queries
    2. ICAS logo request

Finance + Sustainability: The Platinum Jubilee and why we are still facing the same sustainability challenges 70 years on

  • LinkedIn (opens new window)
  • Twitter (opens new window)
Photo of Bruce Cartwright By Bruce Cartwright CA, ICAS Chief Executive

6 June 2022

As many around the UK return to work having celebrated the Queen’s Platinum Jubilee, it is with interest that I took a trip back in time to see what the key events were in 1952 when the Queen came to the throne. What is striking is the parallels between now and then relating to matters of an environmental and military nature are striking.

In December 1952, the Great Smog of London blanketed the city for five days, with an estimated 4,000 people losing their lives as a result of breathing in the fatal pollution. During this time NATO was looking to expand its membership with Greece and Turkey ultimately becoming members. Fast forward 70 years and climate change has become an existential threat to the human race and more countries such as Finland and Sweden are looking to join NATO.

Focussing specifically on climate change and the wider sustainability agenda, in recent months developments in the arena of sustainability reporting have been moving at pace. The importance of having the right sustainability disclosure standards cannot be underestimated as we seek to restrict global warming to 1.5°C above pre-industrial levels.

First out of the starting blocks was the recently established International Sustainability Standards Board (ISSB) which published its first two exposure drafts covering general sustainability disclosure requirements and those specific to climate change. The consultation on these is open until 29 July.

Not far behind and certainly much more comprehensive in their scope at this stage, came the suite of proposed reporting standards issued by the European Financial Reporting Advisory Group (EFRAG) to support the disclosure requirements to be established in the Corporate Sustainability Reporting Directive (CSRD). These proposals are out for comment until 8 August. The CSRD i#s currently at the trilogue stage with some matters still to be resolved including what actors will be able to provide assurance on the required sustainability disclosures.

EFRAG has also helpfully published a comparison of its proposed standards versus those of the ISSB. However, an important omission would appear to be a comparison of both standards with those of the Global Reporting Initiative. According to the IFAC State of Play report published in 2021 the GRI’s standards were the most commonly used by corporates across the globe.

The SEC in the US also currently has a proposed rule change which will require companies to report extensive climate-related disclosures in their filings.

Where will this all end up – we will just need to wait and see. ICAS will of course be responding to the ISSB and to the elements of the suite of standards proposed by EFRAG. We are also highly supportive of the work currently being undertaken by the International Auditing and Assurance Standards Board (IAASB) and the International Ethics Standards Board for Accountants (IESBA).

ICAS has been proactive in exploring the considerations around sustainability reporting, with our Sustainability Assurance Working Group recently published reports on sustainability assurance and the conditions necessary for the reporting of high-quality sustainability information.

As we reflect on the Queen’s reign, and indeed on the history of the planet, things generally work out well when we all seek to work together for the better of the planet. That is why in relation to the recent DAVOS summit, whether or not you agree with flying lots of people from all over the world to the Swiss Alps on private jets to talk about sustainability, it’s hard to argue with its convening power at a time when we urgently need people with their hands on the levers of power to make some decisions,

We can but hope.

2023-05-charlestyrwhitt 2023-05-charlestyrwhitt

Footer links

  • Contact us
  • Terms and conditions
  • Modern slavery statement
  • Privacy notice
  • CA magazine

Connect with ICAS

  • Facebook (opens new window) Facebook Icon
  • Twitter (opens new window) Twitter Icon
  • LinkedIn (opens new window) LinkedIn Icon
  • Instagram (opens new window) Instagram Icon

ICAS is a member of the following bodies

  • Consultative Committee of Accountancy Bodies (opens new window) Consultative Committee of Accountancy Bodies logo
  • Chartered Accountants Worldwide (opens new window) Chartered Accountants Worldwide logo
  • Global Accounting Alliance (opens new window) Global Accounting Alliance
  • International Federation of Accountants (opens new window) IFAC
  • Access Accountancy (opens new window) Access Acountancy

Charities

  • ICAS Foundation (opens new window) ICAS Foundation
  • SCABA (opens new window) scaba

Accreditations

  • ISO 9001 - RGB (opens new window)
© ICAS 2022

The mark and designation “CA” is a registered trade mark of The Institute of Chartered Accountants of Scotland (ICAS), and is available for use in the UK and EU only to members of ICAS. If you are not a member of ICAS, you should not use the “CA” mark and designation in the UK or EU in relation to accountancy, tax or insolvency services. The mark and designation “Chartered Accountant” is a registered trade mark of ICAS, the Institute of Chartered Accountants of England and Wales and Chartered Accountants Ireland. If you are not a member of one of these organisations, you should not use the “Chartered Accountant” mark and designation in the UK or EU in relation to these services. Further restrictions on the use of these marks also apply where you are a member.

Our cookie policy

ICAS.com uses cookies which are essential for our website to work. We would also like to use analytical cookies to help us improve our website and your user experience. Any data collected is anonymised. Please have a look at the further information in our cookie policy and confirm if you are happy for us to use analytical cookies: