Building Carbon Literacy for Accounting and Finance

The climate emergency requires institutions and professionals that are equipped to understand, assess and contribute to climate action to achieve net-zero carbon ambitions. Decisions must be informed by a robust and meaningful evaluation of their carbon consequences, resource requirements and impacts on connected systems. Public and private accounting and finance are central to these decisions. Most solutions will pass through a series of financial accounting, carbon accounting, assurance and financing methods. Unfortunately, conventional models and tools are unable to correctly value climate change impacts. No matter how effective new products, new provisions or financial services are at reducing carbon emissions, innovations may be rejected if evaluated by existing accounting tools, financial models and professionals who cannot correctly understand and account for climate impacts. Accounting and finance professionals are tasked with providing evidence to critical decisions upon which climate action depends. Yet, little is known about the education, knowledge, skills and capabilities of this community to support their work.

The free event is co-hosted by Centre for Social and Environmental Accounting Research, Lloyds Centre for Responsible Business and the Centre for Responsible Banking and Finance. The event is supported by the Royal Society of Edinburgh COP 26 International Climate Change Network Grant.

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