In the wake of the recent economic downturn, many industries have taken a much harder look at their core business functions. Initiated by compliance and/or business sustainability necessity, today’s executives can no longer accept ‘business as usual’. Beginning with reforms in financial monitoring and reporting, there are many learnings that can be applied to other core sustainability-driven functions. In fact, our sustainability consulting finds that the CFO has become a much more prominent figure in the business sustainability conversation.
“Making the business case has long been a mantra of sustainability advocates. After all, if sustainability doesn't create business value, why bother? For years, the business case focused on growing sales and cutting costs. But there are other aspects of sustainability -- transparency, disclosure, compensation, and risk -- that garner the attention of shareholders and others near and dear to the boardroom.”
This lead-in to the GreenBiz article, Why Sustainability Counts for CFOs, describes one of the defining trends of business sustainability change in 2012. Traditionally absent from most sustainable business concepts, Chief Financial Officers have now become a central component to sustainability concept definitions and implementations.
“The Big Four accounting firms have taken notice. They see new opportunities in helping CFOs bring the same level of diligence to sustainability reporting that they bring to financial reporting.”
One of the major objectives of Taiga Company is to inspire business leaders, work groups, and stakeholders to recognize business sustainability as a key value driver for business growth and success. Leveraging the ‘new-found’ strategic value in the finance function as an example, we believe similarly applied sustainability concepts across the entire value chain can yield even greater benefits. Visit with us to lean more.