Name: Welcome to the Era of the Activist Accountant | FT Moral Money
Uploaded: 2021-09-19T02:51:36.000Z
Duration: 3 min 5 s
Description: Thousands of YouTube videos with English-Chinese subtitles! Now you can learn to understand native speakers, expand your vocabulary, and improve your pronunciation...

Welcome to the era of the activist accountant.

Transition words & phrases

Yes, I know that sounds weird because buttoned-up money

men aren't usually environmental rainbow warriors.

But that is the road we're travelling on.

That status quo-loving balance sheet fundamentalist

is now on the front line of change and rewriting

It's down to that G of ESG, or governance.

to know what a company is worth to do their job.

This used to be done with corporate accounts

and accountants who measured profits and loss and assets.

But that ignored anything external to the money flows,

At best, these were relegated to half-hidden footnotes.

So auditors are scrambling to put issues like the environment

into the accounts to reveal to investors and managers

Nobody quite agrees how to measure carbon costs let

But the activist accountants have produced

One, the so-called general reporting index,

Another, the Sustainability Accounting Standards Board,

measures how external environmental and social issues

Some systems track impacts in both directions,

Then, there's the task force of climate-related financial

disclosures backed by financiers like Larry Fink, and Mike

can ignore this because regulators are saying

they're going to make these systems mandatory

So the question now is not how much money do you have,

What are the consequences of what you do?

When a risk jumps from the footnotes of corporate accounts

into the centre of the page, you ignore it at your peril.

So better keep watching those new activists, the accountants.

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Welcome to the Era of the Activist Accountant | FT Moral Money

weird

material

reveal

impact