Sustainability is no longer a “nice-to-have” but a core driver of long-term success. For accountants in practice, this shift brings new opportunities. ICAEW’s new Sustainability Accelerator Programme (SAP) is laser focused on the practical elements of advice, strategy and implementation of sustainability measures.

The dip-in-and-out, bize-sized nature of the SAP ensures that members can zone in on a particular issue relevant to their stakeholders or their own firm without having to complete the whole course. The second unit of the programme is dedicated to building the business case for sustainability and is formed of three modules.

These modules aim to equip practising accountants with the skills to create a compelling case for developing sustainability service lines, such as emissions tracking, ESG reporting and strategic advisory tailored to client priorities. Other focus could be placed on services that align with client values, such as support for certifications (eg, B Corp, EcoVadis and Future-Fit) and public-facing sustainability reports.

These new service lines can enable accountants to expand practices and deepen client relationships, addressing the growing need to stay competitive in a market where clients demand expertise in both financial and sustainability reporting. 

Supporting client needs

The course guides members in identifying crucial entry points for sustainability services for clients, including current drivers such as supply chains and future regulations. It includes support on how accountants can create client personas to help firms drill down to what clients really need. 

For example, the client persona of a ‘risk-averse protector facing supply-chain reporting demands’ may benefit from assurance services and advisory support to meet compliance requirements. Alternatively, a persona of a ‘purpose-driven leader looking to enhance their reputation’ might engage with certifications like frameworks for UN SDGs or net-zero planning. This integrated approach not only sharpens the focus on client needs but also provides a clear pathway for developing tailored services. 

SAP also helps accountants to demonstrate the tangible benefits of integrating sustainability into business strategy, from cost savings and risk reduction to enhanced reputation and long-term profitability.

Driving long-term value

Sustainability isn’t just about compliance but rather grasping opportunities to drive long-term value. By embedding sustainability within operations, members can enhance their firm’s risk management, operational efficiency and reputation, positioning their firm or that of a client’s as a leader in a rapidly evolving marketplace. 

Entrenching sustainability into a practice or business will build in the flexibility to manage market disruptions and regulatory changes, ensuring firms remain relevant and competitive. It can also strengthen a firm’s position by mitigating risks and preparing the business for future disruption. 

It will also help to nurture internal buy-in, capacity-building and aligning services with client needs. Assessing when a firm is ready to offer sustainability services, understanding the role of internal capability and staff engagement are also addressed in the course.

Before offering sustainability services to clients, it is vital to build these values into one’s own organisation. This approach establishes credibility and provides a solid foundation for future growth in sustainability.

Richard Spencer, ICAEW’s Director of Sustainability, says: “It’s a marathon, not a sprint. When you’re passionate about sustainability it’s easy to want to tackle absolutely everything, but this isn’t possible. And then it can feel frustrating that there hasn’t been more progress and that plans have to be revised because they aren’t achievable. It is best to think logically about those achievable goals for your organisation and build step by step.”

Compliance and market differentiator

Regulators, investors and consumers are stepping up pressure on small businesses and large corporations to fully integrate sustainability into their operations. 

This pressure is magnified by emerging regulations, such as the IFRS’s Sustainability Disclosure Standards and the EU Corporate Sustainability Reporting Directive (CSRD), which require greater transparency and accountability around environmental, social and governance (ESG) practices. 

The SAP equips members with the know-how to show clients that the sustainability services they offer can help clients not just meet regulatory requirements, but also improve operations and unlock growth. 

Chartered accountants’ role is to demonstrate that sustainability is not just about following the rules but about building resilience, adapting to change and gaining a competitive advantage. 

As a trusted adviser, accountants can support creating the culture needed to embrace sustainability, and this role is even more important for those in senior finance roles. Spencer says: “If the firm’s culture doesn’t support sustainability, it won’t happen. Leaders need to invest time, resources and money into embedding sustainable practices into decision-making and everyday ways of working. Leadership must demonstrate the values they want the firm to adopt.”

Many clients, especially SMEs, must comply with sustainability rules imposed by larger companies within their supply chains. Clients who implement sustainability practices are better positioned to secure and maintain contracts with core partners, handle supply-chain disruptions and maintain resilience. 

Increasingly, public and private tenders require companies to demonstrate strong sustainability practices and credentials. Investors are also gradually incorporating sustainability factors into their due diligence. Clients that adopt these practices can ensure better access to new capital, contracts and market opportunities. 

Reducing energy use, improving resource efficiency and implementing sustainable supply chains, all supported by improving non-financial data management, allow businesses to adapt to market changes while reducing operational risks. 

Clients who adopt sustainability early are well positioned to enter sectors and new markets that prioritise sustainability, such as ethical consumer markets. 

Critically, though, ICAEW’s Sustainability Accelerator Programme offers a structured way to assess an accountancy team’s current skills and identify gaps that need to be filled.