New IFAC framework supports accountants in creating sustainable value.

The recognition governments and many organizations have given to "sustainability" are changing business culture and society. The global challenge is to ensure that organizations remain profitable at the same time as improving their environmental and social performance. This requires radical changes in the way organizations do business and presents opportunities for accountants to take a significant role in helping organizations focus on the key drivers of long-term success.

The new Sustainability Framework, developed by the Professional Accountants in Business (PAIB) Committee of the International Federation of Accountants, highlights the issues organizations must address to make sustainability an integral part of their business model. For example, it offers guidance on how to inject sustainability leadership into the management cycle, from making and...