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Presentation given by Stathis Gould, Senior Technical Manager at the International Federation of Accountants, on Business Models for a Green Economy for the Global Virtual Conference held by the ...

Presentation given by Stathis Gould, Senior Technical Manager at the International Federation of Accountants, on Business Models for a Green Economy for the Global Virtual Conference held by the Association of Chartered Certified Accountants (ACCA).

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Business Models for a Green Economy Presentation Transcript

  • 1. Business Models for a GreenEconomyStathis GouldSenior ManagerInternational Federation of AccountantsGlobal Virtual ConferenceACCA Page 1 | Confidential and Proprietary Information
  • 2. ContextSustainability = Green + Inclusive • Green: reducing natural resource consumption and environmental impacts • Inclusive: reducing poverty • Strategies for inclusive growth and achieving environmental sustainability should be interlinked • From trade-off to synergy – United Nations Global Compact Page 2 | Confidential and Proprietary Information
  • 3. ContextGlobal Context, Country and Company Specific • Sustainability and environmental focus – US: B Corps – India: Paternalistic – China • Moving beyond compliance • Opportunity: focus on clean tech investment • All countries and organizations at different stages of development • Sector specific • Large versus small • Niche versus traditional Page 3 | Confidential and Proprietary Information
  • 4. VisionA Sustainable (Green) Business Model • What is required? – A sustainable long term vision and sustainable leadership • Resource efficient companies typically produce higher returns – Incorporating sustainability/green at strategy, operational, and reporting levels – Focusing on the longer term Page 4 | Confidential and Proprietary Information
  • 5. IFAC Sustainability FrameworkVision and Leadership • A sustainable long term vision and sustainable leadership – Example: Unilever “Our vision is to create a better future in which people can improve their quality of life without increasing their environmental footprint.” • Reinforcing governance structures – Example: ITC A sustainability management structure that helps to mainstream sustainability into business strategy. • Example: Tata Remuneration linked with the organization’s performance in sustainability. Page 5 | Confidential and Proprietary Information
  • 6. IFAC Sustainability FrameworkEstablish Goals and Targets • Demonstrate commitment • Show progress • Setting strategic targets that are meaningful at various levels – Individual subsidiaries – Divisions – Departments • Example: ITC – Carbon, water and waste positive Page 6 | Confidential and Proprietary Information
  • 7. IFAC Sustainability FrameworkEnergy Efficiency and Waste Minimization • Initiatives that reduce environmental impacts also generally reduce operating costs – Identify large environmental costs that could be reduced – Monetize procedures for costs, savings, and revenues – Small (and no cost) changes can lower energy costs and reduce carbon emissions – Carbon footprinting and accounting • Example: Veriform – High precision sheet metal and plate manufacturing (c50 people) – Between 2006 and 2008 invested $46,186 in over 42 individual energy saving projects: annual operating costs have been reduced by $89,152. Expected savings to be around $1.5m over 10 years. Page 7 | Confidential and Proprietary Information
  • 8. IFAC Sustainability FrameworkEmbedding into Business Practices • Embed into management control cycle – Planning – Performance management/measurement – Internal control and audit – Integrated systems – Reporting • Example: Proctor & Gamble – Planning and Control System of Objectives-Goals-Strategies-Measures Page 8 | Confidential and Proprietary Information
  • 9. IFAC Sustainability FrameworkEmbedding Sustainability & the Role of Accountants Page 9 | Confidential and Proprietary Information
  • 10. Innovation Examples• Interface (carpet tiles) – Resource input• Unilever – Product• Giveacar – New business model• PUMA – Reporting Page 10 | Confidential and Proprietary Information
  • 11. IFAC Professional Accountants in BusinessQuestions? • IFAC Sustainability Framework available at www.ifac.org/PAIB Page 11 | Confidential and Proprietary Information