Sustainable Finance: What comes before reporting?

29 January 2020, 08:30-09:30 European Parliament, Rue Wiertz, Leopold Quarter, Belgium View on Google Maps

On 29 January, we organised a breakfast policy debate on environmental accounting which was kindly hosted by MEP Sirpa Pietikäinen (EPP / Finland).

We discussed how important it is to identify, measure and account for the environmental impact of companies’ economic activities. As part of the EU Green Deal, the European Commission is also looking to support businesses and other stakeholders to develop standardised natural capital accounting practices. Speakers included Thomas Verheye, Principal Advisor for Green Finance & Investment from the European Commission (DG ENV), Rami Feghali Sustainable Finance Group Vice-Chair from Accountancy Europe; and Ravi Abeywardana, ICAEW member.

Participants discussed the need to make natural capital accounting and the assessment of natural resources use central to business. Speakers emphasised that the time to start is now. Clearly there is a huge issue with the availability of data, which is the blood of natural capital accounting. Once this data is available, natural capital accounting can become the game changer. We need a universal environmental management system, which includes climate, water, air, land and biodiversity, to evaluate the environmental footprint of a company. Once that is in place, the work can begin to put these results on a par with financial results. From a business standpoint, if management doesn’t have the numbers on natural capital use, they can’t manage the business.

Following the debate speakers expressed enthusiastic support to continue the discussion and pursue concrete action on creating the universal parameters for natural capital accounting.


upcoming events.

29 April 2021

Working Together for the planet: Audit & Assurance of sustainability Information
virtual conference

4 May 2021

From risks to resilience: benefits of intellectual property for your business

11 May 2021

Non-Financial Reporting Directive

3 June 2021

Sustainability reporting in the public sector

16 June 2021

Digitalisation & SMEs
hybrid event

17 June 2021

Anti-Money Laundering

30 September 2021

Early Warning Europe SME summit

See all events

Sign up for our newsletter

* indicates required
Would you like to subscribe to our newsletter?
On which topics would you like to receive news?