1. Professional Ethics

2. To understand the ethical responsibility of the finance professional in promoting sustainability

3. Learners will be able to 1. Explain the importance of an ethical approach to sustainability 2. Evaluate reputational and other ethical risks 3. Understand the Triple Bottom Line in relation to sustainability and decision making 4. How to promote sustainable practices

4. What does this mean ? Definition :- The ability to last http://www.youtube.com/watch?v=OKyrB2Jn2Zs

5. Government has increased emphasis on the importance of ‘green’ policies for organisations and individuals. These green policies protect the environment, save energy and ultimately benefit society as a whole.

6. It is not just ‘being green’ that supports sustainability and sustainable development. Organisations must ensure responsible long- term management of resources they use. In addition to environmental impact of management decisions sustainability also involves economic and social issues.

7. This organisation aimed to bring together the international community to pursue a common goal to support sustainability by: Identifying problems Raising awareness Implementing solutions The report produced defined sustainable development as ‘development that meets the needs of the present without compromising the ability of the future generations to meet their own needs’

8. Three key components highlighted by the Brundtland Report:  Economic Growth – Profit  Environmental Protection - Planet  Social Equality - People

9. People  Pay its workers fair wages  Maintain a safe working environment  Not use child labour or use suppliers who do  Promote the communities in which it operates. Planet  Reduce its 'ecological footprint'  Reduce energy usage  Limit environmental damage.  Not be involved in resource depletion. Profit To balance the profit objective with the other two elements of the

10. Large organisations are publishing Corporate Social Responsibility (CSR) reports. These reports detail how a organisation supports sustainable development through policies and procedures. No legal requirement to report on their CSR

11. CSR initiatives may include:  Reducing CO2 emissions from premises  Trading with organisations with a proven track record of good staff working conditions  Setting recycling targets  Promoting car share schemes and cycle to work initiatives

12. Professional accountants have public interest duties to protect society as a whole. Take the initiative rather than reacting They must consider the economic, social and environmental aspects of their work.  Ensuring the long-term responsible management of resources  Contributing to the running of their organisation in a sustainable manner  Assessing and minimising the risks to the organisation, and to society as a whole, of not acting sustainably.

13. Accountants must act ethically in all aspects of their working life and in addition to this, must discourage unethical and illegal practices  Money laundering  Terrorist financing  Fraud  Theft  Bribery  Non-compliance with applicable regulations  Bullying  Decision making that does not consider the longer-term

14. An attitude of a business to sustainability can have a significant impact on its reputation with its stakeholders:  Investors  Employees  Customers  Suppliers

15. Accountants must promote sustainable practices through the organisation in relation to :  Products and services  Customers  Employees  The workplace  The supply chain  Business functions and processes