Management accountants crucial to reduce businesses' carbon footprints

The IMA report outlines how management accountants can support reducing carbon footprints

As the world seeks to address the impact of climate change, especially following commitments made at COP26, businesses are committing to reducing carbon emissions and reaching net zero over the coming decades.

In addition to external drivers, companies are motivated by operational efficiency, risk management, and relationship-building opportunities that enhance performance and value.

“Many accounting and finance professionals have been reluctant to participate in emissions reductions plans, as they view the area as novel or unrelated to driving performance,” said Shari Littan, director for Corporate Reporting Research & Policy at IMA.

“The report shows that our professionals already have valuable competencies to help their organisations develop and implement emissions reductions in a way that brings valuable insights for building strategies in a changing market with new regulatory demands.”

Arnaud Brohe, author of The Handbook of Carbon Accounting and one of the report’s chief co-authors said, “We are excited to have produced this guide with IMA that explains how a company can set a baseline and track progress on reducing emissions.”

Brohe further added, “In our work, we see every day how management accountants oversee the execution of these plans and how the analyses are used for internal decision-making and external reports. These professionals are a dream to work with, as they use their awareness of regulatory trends and reporting in a way that creates a sustainable advantage for their businesses.”

IMA is one of the largest and most respected associations focused exclusively on advancing the management accounting profession.

Globally, IMA supports the profession through research, the Certified Management Accountant and Certified in Strategy and Competitive Analysis programmes, continuing education, networking, and advocacy of the highest ethical business practices.

Twice named Professional Body of the Year by The Accountant/International Accounting Bulletin, IMA has a global network of about 140,000 members in 150 countries and 350 professional and student chapters. Headquartered in the US, IMA provides localised services through its four global regions: the Americas, Asia-Pacific, Europe, and the Middle East and India.