Recording

Organizers

This session was organized by the Association of Chartered Certified Accountants (ACCA) and TUV Rheinland

Background

ACCA (the Association of Chartered Certified Accountants) aims to show the contribution the profession could make in transforming the world for the better. Accountants are already well-equipped to play an essential role in preparing company policies, developing business cases, and in identifying, measuring and managing climate-related business risks. This includes developing and using management accountancy systems to collate climate-related data and information with the same rigour as financial data and information.  

TUV Rheinland is an independent third-party technical services provider working to achieve a balance between mankind, technology and the environment with its services that include testing and assessment, training and qualification, inspection and supervision, consulting and project management, certification and auditing through our 20,870 employees across 65 countries. As a member and player in the UN Global Compact, we are committed to the multifaceted approaches of sustainability and live them with a binding sustainability strategy. 

Impact measurement and management (IMM) has become increasingly sophisticated over the last decade, driven by growing interest in impact investing and the need to address more stringent sustainability reporting requirements from regulators. Frameworks to categorize such investment and relevant KPI/metrics from sustainability aspects have been established via SASB standards, EFRAG criteria, EU Sustainable Finance taxonomy, and others. Within the SME space, there have been pilot projects to utilize sustainable credentials of textile manufacturer, textile product, and buyer for sustainable trade finance. A UNEP report suggests that manufacturers should continue to invest in the best technical practices, while financial institutions should understand and address the needs of diverse stakeholders in the transition. Impact measurement is most straightforward when applied to goals that have a relatively simple numerical outcome. These need to be integrated within robust Accounting practices that are comparable and repeatable. 

Objectives

Objective of this technical seminar was to introduce participants to an overview of funding opportunities related to sustainable development, through case studies and to hear about expectations of investors. 

Speakers

Moderator

Rakesh Vazirani, TUV Rheinland

Key Outcomes

• Targeted Capacity building concerning Climate related investments for SMEs necessary (for investee and for Finance Institutions) to address peculiarities of industry/sector and identifying specific sustainability accounting needs linked with impact monitoring. 

• Proof-of-concept initiatives based on Green Finance for SMEs have been completed, next step requires Proof-of- Scale, along with independent social/environmental due diligence and verification of impact. 

• Listen deeply, debate compassionately, and discuss candidly; for effective capacity building measures. 

Resources

ACCA and TUV Rheinland slides

ACCA: a more sustainable world

ACCA: toolkits

ACCA: SME sustainability 

ACCA: green finance

ACCA: resilience

ACCA: accounting

ACCA: integrative thinking

ACCA: society values

ACCA: readiness for IFRS-S2

TUV Rheinland blog

TUV sustainability