When it comes to making business decisions, more and more people are looking beyond the balance sheets of organizations. And while profit will forever remain a key driver, people and the planet are not far behind.
As CGAs, we pride ourselves on our ability to offer more than just financial advice to our clients. We have the skills and expertise to manage not only a company’s balance sheet, but also its social and environmental impact. The fact that CGAs are thinking about how to measure a company’s triple bottom line is just another reason I’m so proud of this great designation.
In a 2009 survey of investors, 77 per cent of respondents factored climate-change information into investment decisions, citing “carbon risk” and “potential regulation” as motivation. This is why it’s so important companies have the services of a CGA to help them measure this impact, guiding key business decisions and strategies which go above and beyond the profit and loss columns.
Corporations are recognizing the value of sustainability reporting as a means of improving their reputation, while demonstrating to stakeholders a commitment to social responsibility. The growth of sustainability reporting is likely to continue as stakeholder demands for corporate transparency and responsibility intensify, in response to increasing pressures on global environmental and social systems.
As companies continue to seek new ways to demonstrate and communicate how they are managing corporate risks – including those prompted by social and environmental concerns – our members are well positioned. CGAs have the knowledge and skills needed to help organizations navigate potential pitfalls while helping to safeguard a sustainable future for all of us.
Anthony Ariganello is the president and chief executive officer of CGA-Canada