As world leaders gather in Dubai for COP28, the Association of Chartered Certified Accountants (ACCA), International Federation of Accountants (IFAC) and PwC have released a report on the role of CFOs and finance teams in the climate transition.

In the report, research found that 40% of UK respondents had not produced a plan for reducing their carbon emissions that result from business activity. Alarmingly, nearly 70% of those respondents without an emissions plan said they currently had no intention of developing one.

Businesses need to educate their staff and implement emissions plans which should form part of a wider sustainability-first approach to business.