With the launch of Responsible Finance and Accounting: Performance and profit for better business, society and planet with publishers Routledge, Professors Annelise Vendramini, FGV-EAESP, and Adrian Zicari, ESSEC Business School, give an over- and inside view of the book, and why it should be on the booklist of everyone with an interest in responsible business, finance, and accounting.
Just published, the book Responsible Finance and Accounting: Performance and profit for better business, society and planet is the first in a series – the Routledge and CoBS Focus on Responsible Leadership.
It is indeed appropriate that this book series begins with Finance and Accounting. Not because we like these disciplines (disclaimer: one of us is a professor in Finance and the other in Accounting), but because both disciplines are indisputably at the core of the modern economic system.
Moreover, there is no way of addressing the multiple challenges of sustainability without the contribution of Finance and Accounting. Both are predominantly quantitative disciplines, with a reputation for being practical, close to reality, straightforward, and no-nonsense. And if we want to bring about a substantive change to sustainability, these two disciplines are indispensable levers for such a change.
Sustainability, finance, and accounting are intricately linked
Finance is about the resources that are deployed in our economy. And the essence of a financial analysis is the effort to understand and measure the consequences in the future of a decision made in the present, using forecasting and discount rates.
In Finance, decisions cannot be detached from ethical considerations and thinking constantly about the future. As we well know, the choice of financing – that is, providing material resources – to one project or to one activity instead of an alternative one, is not only a matter of calculations. As such, finance as a discipline is well equipped to discuss sustainability matters.
Accounting, as the universal language of business, matters as well. Measurement of corporate results, both financial and non-financial, is an unavoidable step for improving companies. And if one cannot measure environmental and social impacts, the much needed change in companies will not happen.
Responsible finance & accounting: the book
Consequently, this book provides a collection of insights spread over two sections – Finance and accounting – with concrete, inspiring analyses. All of them based on the latest academic research, both undertaken by the CoBS member schools and in guest schools and companies. These contributions, coming from five continents, represent different, though complementary international perspectives.
In terms of content, the Finance chapter first explores why Finance plays a key role for the future of the planet, with insights on the rise of green finance, the role of CSR in investment recommendations, and financial innovations in emerging markets, among others. Part 2 of the Finance chapter studies how Finance can change, and the impact of such a change on the financial profession, investors and companies.
Then comes the Accounting chapter. Part 1 studies the role of the accounting profession in the ongoing transformation towards responsible and sustainable business models, as well as giving a wry look at the myths and stereotypes surrounding the accountant and the new role – some say superhero – the accountant can play in the social and environmental transition. In addition, there are deep insights into triple capital accounting, the green taxonomy, and green supply chain. Part 2 of the Accounting chapter deals with ethics and sustainability leadership, featuring, for example, insights into how accounting firms influence their clients’ moral conduct, and another on the results and impact of greenwashing.
Accompanying the insights themselves, the book also offers its readers a practical, key takeaway section, a series of thought-provoking questions that consider your job, your organisation, and the wider world, and a final self-assessment tool to help you put what you have learnt in the book into practice.
As you may see, Responsible Finance & Accounting encompasses a wide set of issues, bringing together some of the latest thought leadership in the field and combining practical insights, academic rigour, and a positive, constructive attitude to address the challenges of today.
We hope – students, instructors, practitioners or simply those who share our belief that business can contribute to improving society and planet – that you will enjoy the book.
- Discover Responsible Finance & Accounting: Performance and profit for better business, society and planet, browse the content and pre-order your copy!
- Read a related article: A Japanese perspective on CSR and finance.
Learn more about the Council on Business & Society
The Council on Business & Society (The CoBS), visionary in its conception and purpose, was created in 2011, and is dedicated to promoting responsible leadership and tackling issues at the crossroads of business and society including sustainability, diversity, ethical leadership and the place responsible business has to play in contributing to the common good.
Member schools are all “Triple Crown” accredited AACSB, EQUIS and AMBA and leaders in their respective countries.
- ESSEC Business School, France-Singapore-Morocco
- FGV-EAESP, Brazil
- School of Management Fudan University, China
- IE Business School, Spain
- Keio Business School, Japan
- Stellenbosch Business School, South Africa
- Trinity Business School, Trinity College Dublin, Ireland
- Warwick Business School, United Kingdom.
