Broadening the horizon: How CFOs and Finance Functions can help drive corporate sustainability
Developed by the Cambridge Institute for Sustainability Leadership and A4S, this brief focuses on the pivotal role that CFOs can play in unleashing sustainable business and how they can drive forward sustainability.
The authors have identified a number of key enablers that are needed to help CFOs and finance functions adapt to a rapidly changing business environment, including:
- Sustainability knowledge and professional skills development supported by educational establishment and relevant professional bodies
- Access to relevant data, particularly on Scope 3 emissions and social and ecosystem impacts
- Systems and software to enable the integration of sustainability and financial information
- Conceptual and technical developments to define methodologies and standards in specific accounting areas
- Coherence of standards, regulations and frameworks globally to avoid Finance Functions spending all their resources keeping up to date with changing frameworks at the expense of driving sustainability improvements
- Collaboration and sharing from leading companies of their learnings among each other and with those who follow, rather than each company having to start from scratch.