By: Brian Plumb
I recently read a great article from GreenBiz.com and wanted to share it’s insights with you. Below is a summary of the article 7 Sustainability Trends Every CFO Needs to Know. To read the full article click here.
7 Sustainability Trends Every CFO Needs to Know
Chief Financial Officers are already involved in many aspects of sustainability. Numerous functional teams that work on parts of sustainability report to the CFO. These groups include investor relations, risk management, EHS, legal, procurement/supply chain, IT, facilities/real estate, and HR.
Moreover, the corporate finance team often leads key business processes, such as budgeting, capital appropriations, internal and external financial reporting, executive compensation, and energy management that directly affect the achievement of sustainability goals.
- Sustainability reporting has become mainstream
- Green ratings matter and will influence your brand image
- Investors care about climate change
- Companies combine financial and nonfinancial reporting, including sustainability reporting
- Sustainability impacts key business processes
- Corporate energy management emerges, reduce energy use and carbon emissions decline
- Spreadsheets are not sufficient to support emerging processes, database driven software is a must
Because of the large number of functional areas that report to the CFO, sustainability offers the CFO an opportunity to drive sustainability into the organization for cost savings and competitive differentiation. Your organization needs your leadership in this area.
energy exchange’s article 5 Steps To Take To Prepare For Carbon Regulations suggests how organizations can prepare themselves for carbon disclosure and transparency and the important role the CFO will play in leading organizations in overall preparation.
Brian has over 25 years of experience in marketing and sales and is Energy Advantage’s Vice President, Marketing & Strategy.