Climate Change,
Unconventional Energy,
and the Role of CPAs
CPABC supports these national efforts and
is active at the local level as well. As mentioned in the May/June 2016 issue of CPABC
in Focus (page 7), CPABC was a co-presenting
sponsor of a Greater Vancouver Board of
Trade/2016 GLOBE Conference presentation
by Michael E. Porter on March 3, 2016. Porter
is an economist, scholar, author, and teacher,
and a leading authority on competition,
strategy, and the relationship between environmental performance and company growth
and profitability. During the presentation,
Porter offered his perspective on the global
shift to a low-carbon economy. He described
this shift as a business priority—not just an
environmental issue—and said organizations
can position themselves for a competitive
advantage and turn risks into opportunities
by planning for the transition now.
Porter also shared insights gleaned from
independent research conducted by Harvard
Business School (HBS) and the Boston Consulting Group (BCG), which was published
in a report entitled America’s Unconventional
Energy Opportunity: A Win-Win Plan for the
Economy, the Environment, and a LowerCarbon, Cleaner-Energy Future.* Although the
report focuses on unconventional energy in
the United States, the overarching message—
that economic growth and environmental
protection can and should be compatible
goals—is one with global implications. The
following (pages 29-30) is an abridged and
edited version of the report’s executive summary and is shared with permission:
* Michael E. Porter, David S. Gee, and
Gregory J. Pope, America’s Unconventional
Energy Opportunity: A Win-Win Plan for
the Economy, the Environment, and a
Lower-Carbon, Cleaner-Energy Future,
June 2015.
28 CPABC in Focus • July/August 2016
Ole-Gunnar Rasmussen/iStock/Thinkstock
C
limate change is giving rise to a variety of operational, financial, reputational, and
regulatory risks for Canadian businesses. It is also creating opportunities, particularly
for those businesses that are quick to adapt to the changing environment. CPAs have
a valuable role to play in this regard. As experts in sustainable value, they’re well positioned to
identify and address risks and opportunities and help their organizations develop sustainability
strategies.
Recognizing this, CPA Canada collaborated with Natural Resources Canada (NRCan) to cosponsor a multi-year initiative designed to give CPAs the resources needed to help organizations
adapt to the effects of climate change. The national initiative, entitled “Enabling Canadian
Chartered Professional Accountants to Adapt to a Changing Climate and Emerging Operating
Environment,” was launched in May 2015. It is delivered through NRCan’s Adaptation Platform
and managed by the Network for Business Sustainability. As part of this initiative, CPA Canada
recently published three briefs, which can be downloaded from cpacanada.ca/climatechange:
A Primer on Climate Change Mitigation and Adaptation (Brief 1); How Organizations Can Adapt
to Climate Change (Brief 2); and How Chartered Professional Accountants Can Help Organizations
Adapt to Climate Change (Brief 3).