The coming years will see Canadian business, policy makers and society at a tipping point in their relationship with the green economy, says a report from the Association of Chartered Certified Accountants (ACCA).
"The green economy demands our attention as we are reaching a critical and pivotal time," says Suzanne Godbehere, head of ACCA Canada. "How far that balance goes will depend on the global market and its appetite for Canada's raw materials, as much as on national and provincial priorities, choices and treaties here."
The report, which discusses Canada's readiness for the green economy, concludes that the country is reaching a decisive moment, one where the accountancy profession has a critical role to play in ensuring that the outcome is not to the detriment of Canada's future generations and the natural resources on which it depends.
"Canada faces its own particular challenges and opportunities when it comes to transitioning to a green economy," adds Godbehere. "While the country has a huge wealth of natural capital, it is also highly diversified economically, and has proven resilient to external shocks."
The part accountants play in addressing and helping with this transition is important.
"The accountancy profession holds the key to accurately valuing and embedding natural assets within the economy," she says. "They can help to inspire and enable the necessary transition and change."
Here is the link to the full report.