Dr. Theodora Ekua Aryee is a lecturer at Ashesi University. She has a strong expertise in accounting, with a BSc, MPhil, and PhD all in accounting. She is a member of the Association of Chartered Certified Accountants (ACCA). Her research interests include Sustainability reporting, Climate Accounting, and ESG Accountability.
In 2017, The Guardian revealed a startling statistic: a mere 100 companies accounted for over 71% of global greenhouse gas emissions. Meanwhile, CPA Canada reported that weather-related disasters were costing approximately $4.9 billion annually (CPA Canada, 2019). CNN aptly summarized it: “climate is the biggest business risk” (CNN, 2019).
With stakes this high, businesses can no longer afford to be passive observers. Nor can the professionals who enable and advise them. Accountants, in particular, must decide: will we remain spectators on the sidelines of SDG 13, or will we step into our rightful role as key participants in shaping a climate-resilient future?
Why SDG 13 Demands Accounting’s Involvement
Sustainable Development Goal 13 (SDG 13) emphasises the need for urgent action to combat climate change and its associated impacts. Its targets range from strengthening resilience and integrating climate policies into national planning to building institutional capacity and implementing the UN Framework Convention on Climate Change.
Unlike the Millennium Development Goals, the SDGs explicitly invite private sector participation, placing accountants at the centre of sustainability discourse. After all, if climate change is the most pressing risk to business continuity, then it is also an accounting issue.
Accounting professionals have long been custodians of transparency, stewardship, and accountability. The International Federation of Accountants (IFAC) acknowledged this in 2016, identifying climate action as one of eight SDGs directly relevant to the profession. IFAC urges accountants to support the three pillars of climate action:
- Accountability for climate commitments;
- Support for organisational adaptation to climate impacts;
- Effective communication of climate performance (IFAC, 2016).
Yet, despite this clear mandate, many accountants, especially in the Global South, still perceive climate issues as outside their remit.
What the Field Tells Us: Lessons from Ghana
In 2019, as part of my doctoral research, I explored the extent to which accountants in Ghana recognised their role in climate action. The findings were sobering. Most practitioners lacked familiarity with SDG 13 and did not see climate change as an area requiring their direct involvement.
Among the few who did, three compelling themes emerged:
- Cost Implications: Accountants influence purchasing and investment decisions. Therefore, sustainability trade-offs—between upfront cost and long-term environmental impact—should become part of their decision calculus.
- Accountability: Accountants ensure reporting integrity. Their role is central in measuring performance, assuring climate disclosures, and tracking progress against organizational environmental targets.
- The Going Concern Assumption: One of accounting’s foundational principles—the assumption that a business will continue operating into the foreseeable future—is threatened by climate-related risks. If rising temperatures, regulatory shifts, and supply chain disruptions jeopardize business continuity, then accountants must reassess financial disclosures accordingly.
Despite this, the majority of respondents viewed themselves as bystanders rather than agents of change. But there is a silver lining: awareness is growing.
Surveys by firms like PwC show that business leaders increasingly recognize public awareness and access to better climate data as essential to action. If accountants can lead in interpreting and reporting such data, we reposition ourselves not just as compliance officers, but as strategic partners in sustainability governance.
