Another exciting new development on the sustainability front.  In a previous post, I mentioned the Prince of Wales' Accounting for Sustainability Project (A4S) and its mission to to develop the new approaches to accounting and reporting that are needed to ease the transition towards a sustainable economy.

This week, A4S is launching a new book, Accounting for Sustainability – Practical Insights, which CIMA has co-sponsored.  It shows how eight UK private and public sector organisations have applied the guidance developed by A4S and how it can help to:
• Embed sustainability more effectively in day-to-day operations; and
• Identify and report the connection between strategic direction, financial performance and sustainability impacts.

The organisations covered are Aviva, BT, EDF Energy, HSBC, Novo Nordisk and Sainsbury’s together with two public sector bodies, The Environment Agency and West Sussex County Council.  The case studies were researched and prepared by a prestigious team of business and management academics from UK and continental European universities.  Taken together, they show how a diverse range of organisations are seeking to integrate sustainability into their very DNA.

By drawing on these experiences, it is hoped that other organisations will be able to apply the tools and techniques to suit their particular circumstances.  As CIMA’s Chief Executive, Charles Tilley, has commented ‘Accounting for Sustainability provides a rich and diverse collection of case studies to help all those organisations looking for a practical way of addressing the major challenges and risks posed by sustainability-related issues.’

You can read, for example, how Sainsbury's embedded sustainability considerations in the sourcing of lamb or how BT, EDF Energy and West Sussex County Council translated strategic objectives into workable operational goals.

Despite their diversity, the case studies have generated some common themes and the book concludes by summarising the key learnings.  For example, it is clear that sustainability must be a strategic objective and that executive commitment is vital.  However, the right tone from the top needs to be combined effectively with bottom-up approaches to capture insights from employees across the organisation.   

If this has encouraged you to find out more, see Earthscan for details of how you can obtain the book.  CIMA members can receive a discount of 20% by quoting CIMA in the voucher code box when placing an order.