US withdrawal from Paris Climate Agreement threatens local and international prosperity, says global accountancy body

The Association of Chartered Certified Accountants has warned that the decision of the US administration to renegotiate the Paris Climate Agreement is a backward step that—contrary to the stated intention—will put jobs, wealth and prosperity creation at grave risk.

Jimmy Greer, head of sustainability at ACCA, said: “At a time when the world needs collaborative and committed leadership to solve complex, interconnected global challenges, the US government has made a short-sighted decision.

“A move away from the concrete steps the world has committed to in controlling carbon emissions may represent short-term gain for the few, but threatens longer term inclusive and enduring prosperity creation, both in the US and around the world, for the many.

“Business and finance leaders from the US and around the world have already condemned this decision, including several who are involved in fossil-fuel related activities. We have come a long way to secure widespread recognition that climate change is one of the biggest risks facing our economies and societies, and even further to have policymakers around the world seeing that it can also be an engine of economic dynamism, replete with opportunities for economic renewal and transformation.

“Around the world, every day, ACCA members across 178 countries feel the tangible impacts of climate change.

“The role for the accountancy profession here is clear: we need to provide leadership and clarity on the economic opportunities to ensure the much-needed transformation happens with or without the US.

“ACCA and its members will continue to support companies and governments around the world as they finance new opportunities, enhance corporate monitoring and reporting of environmental and social outcomes, and mitigate emerging climate-related risks.”