- August 25, 2022
- Posted by: Bastion team
- Category: World News
SINGAPORE – Companies that are committed to reducing their carbon footprint and making progress in green finance should consider having a chief finance and sustainability officer (CFSO), recommends a local accountancy study.
A CFSO would have the chief finance officer and the chief sustainability officer reporting to him or her, whose role would be to integrate finance with sustainability in a company’s business strategy.
The high-ranking executive would convert the environmental impact of the company’s activities – such as greenhouse gas emissions and pollution – into financial metrics to guide the firm’s strategy in meeting sustainability goals.
The chief finance and sustainability officer is among an alphabet soup of new green professions – such as an environmental, social and governance specialist – that is emerging as the green momentum picks up.
The CFSO is an uncommon job role that is present in organisations, such as CapitaLand Investment, that already have well-developed sustainability initiatives and commitments, the report stated.
The new study, Sustainability: Jobs and Skills For the Accountancy Profession, was jointly conducted by the Institute of Singapore Chartered Accountants and three other organisations including the Singapore Management University (SMU).
Its report, released at the annual Professional Accountants in Business Conference on Thursday (Aug 25), shed light on the skills that accountants and finance professionals need in order to perform…