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Green Finance & Sustainability
AIA's Commitment to Sustainability
Green Finance Education Charter
The government, the Green Finance Institute, and a number leading financial professional bodies, including AIA, are signatories of the green finance education charter, designed to embed green finance and sustainability into the core curricula, new qualifications, and the continued professional development of accountants.
As a Commonwealth accredited organisation, AIA adheres to the values and principles embedded in Commonwealth Declarations, notably the Singapore Declaration on Commonwealth Principles (1971) and the Harare Commonwealth Declaration (1991), which outlines a commitment to promoting democracy and good governance, human rights and the rule of law, gender equality and sustainable economic and social development.
The Commonwealth helps member countries protect their environments and use their natural resources sustainably and operates a number of environmental programmes.
"AIA plays two distinct roles in promoting green finance and sustainability. As a professional body we are committed through our policy agenda to act as an authoritative voice within the accountancy sector to raise standards and education in green finance and sustainability. We also ensure that our members have the skills, knowledge and tools to promote sustainable business practices."
International Sustainability Reporting Standards
The IFRS Foundation are working on the creation of a proposed new standard-setting board—International Sustainability Standards Board (ISSB)—to help meet the need for high quality, transparent, reliable and comparable reporting by companies on climate and other environmental, social and governance (ESG) matters.
The intention is to deliver a global baseline of sustainability-related disclosure standards that provide investors and other capital market participants with decision-useful information about companies’ sustainability-related risks and opportunities to help them make informed decisions.
Task Force on Climate-related Financial Disclosures
The Task Force on Climate-related Financial Disclosures (TCFD) was created to improve and increase reporting of climate-related financial information, including the risks and opportunities presented by rising temperatures, climate-related policy, and emerging technologies in today's world.
The Global Reporting Initiative is an independent, international organisation that helps businesses take responsibility for the impact of their work. GRI Standards help advance the practice of sustainability reporting, and enable businesses and their stakeholders to take action and make better decisions that have economic, environmental and social benefits.
COP26 aims to mobilise finance as a mechanism to achieve its climate goals; countries need to manage the increasing impacts of climate change on their citizens’ lives and they need the funding to do it. The scale and speed of the changes needed will require all forms of finance including:
Public financefor the development of infrastructure we need to transition to a greener and more climate-resilient economy.
Private financeto fund technology and innovation, and to help turn the billions of public money into trillions of total climate investment.
Green is the New Finance is a podcast series from the Green Finance Institute which showcases thought leadership on green finance and sustainability with interviews from key figures in the finance sector or policy environment discussing their ideas on how to advance green and sustainable finance.
The Financial Reporting Council (FRC) has published its Annual Review of Corporate Reporting, which outlines the FRC’s ‘top ten’ areas where improvements to reporting are required. From next year, premium listed companies will be required to disclose their compliance with the Taskforce for Climate-related Financial Disclosures (TCFD) recommendations on a comply-or-explain basis.
This publication outlines some of the benefits for SMEs using and even reporting on sustainability information, highlighting the range of services practitioners can provide, including advisory, reporting, Agreed-Upon Procedures (AUP) engagements and assurance. It also explains how SMPs can build skills, knowledge and take initial steps.