On World Environment Day :

ACCA urges Sri Lankan businesses to think green

As the 39th UN World Environment Day is commemorated on June 5, 2010, ACCA (the Association of Chartered Certified Accountants) urges the Sri Lankan business community to consider its environmental impact.

“Sri Lanka’s exports of clothing and textiles, tea, gems, rubber and coconuts mean that as a country we depend on the natural environment. We are dependent on natural resources for our livelihoods,” said ACCA Sri Lanka Country Manager Aruni Rajakarier. “It is not hard to see that protecting the environment is of critical importance to the entire country, and should be every business’s top priority.” she said.

Aruni Rajakarier said, “Sri Lanka’s Economic Development Ministry aims to bring prosperity to the country, and this prosperity is dependent on the formulation of effective policies and strategies. But as a country we are vulnerable to the environment - for instance, the recent tragic flood in the country due to torrential rain have caused massive disruption. If steps are not taken now to halt environmental damage, flooding will become more severe and more frequent, and large areas will be permanently inundated.”

ACCA is a long-standing champion of sustainable corporate behaviour: not only because of the environmental benefits, but also because of the real value it brings to businesses. “There is growing acknowledgement of the link between good environmental practice and good financial results, said Aruni Rajakarier.

“Simply put, these days green credentials are crucial to a business’s reputation with its clients. So when a firm takes steps to reduce its environmental impact, it is helping to secure its own success, as well as the future of Sri Lanka. That’s something ACCA really wants to underline to the business community this World Environment Day,” she said.

“Because of the scale and urgency of the climate change challenge, ACCA believes steps must be taken towards a robust framework for measuring environmental performance.

“At the moment, the processes of carbon accounting and sustainability reporting are voluntary, and very inconsistent,” said Aruni Rajakarier. “We need now to shift towards a global carbon reporting standard and narrative reporting, and ACCA sees a key role for accounting and finance professionals in designing these and putting them into practice. With meaningful data, we can better judge what needs to be done to help businesses reduce their environmental footprint further,” she said.