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Why nature matters to accountants

Accountants working in business and practice can find guidance here on how to integrate nature into their work.

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Why was this guidance on nature developed?

ICAEW developed this guidance for the Global Accounting Alliance to address the need for accountants to understand and integrate nature-related issues into their work. It highlights the importance of nature for the accountancy profession and the financial impact of nature-related issues.

Accountants working in both business and practice have a professional responsibility to get on top of this issue. However, many accountants are not aware of how nature connects to their role and responsibilities, nor how to respond. This guide aims to help fill this gap. You can read the complete version here. 

Definitions and nature-related concepts

What is nature and why does it matter to accountants?

As accountants, understanding what ‘nature’ means is key to managing financial risks and opportunities tied to environmental factors.
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River running through centre of image with green forest on either side and a blue sky

Nature-related dependencies, impacts, risks and opportunities

All organisations have dependencies and impacts on nature, in their own operations or value chains, or both. Understanding the risks and opportunities these present is crucial.
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Solar panels surrounded by green forest

How to integrate nature into your work

Practical guidance
Building with blue green glass windows looking up at green trees
Board members

Key steps to integrate nature into corporate strategies.

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Practical guidance
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Senior managers

Key steps to integrate nature in delivering the organisation’s strategy.

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Practical guidance
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Analysts

Key steps to integrate nature into financial planning, risk management and business strategy.

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Practical guidance
wind farm with solar panels green scenery and a blue sky
Report preparers

Key actions to incorporate nature-related disclosures effectively.

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Practical guidance
Plants growing out of tin cans with leaves
External auditors and assurance practitioners

Key steps to integrate nature-related considerations into their reporting work.

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