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The International Federation of Accountants has called for an international agreement on global emissions. In submitting a letter of support to the UN Framework Convention on Climate Change, IFAC said it supports a universal agreement and effective international dialogue to encourage the transition towards resilient, low-carbon societies and economies.
In a statement, the federation called climate change a "seminal and intractable public interest issue", affecting organisations and global markets as well as the societies they serve.
“An international agreement on long-term global emissions reduction will assist governments, capital markets, and private and public sector organisations — and the professional accountants who serve them — to more confidently identify necessary actions to mitigate climate change,” IFAC said.
“A strong and clear agreement is also more likely to unleash government and business ingenuity and innovation in both managing and solving climate change challenges,” the statement read.
IFAC CEO Fayez Choudhury said it's clear that there is a critical economic, business, and societal need to respond to the warming of the climate by reducing global emissions.
“Increased climate risk presents uncertainty creating threats and opportunities for governments and businesses and the societies they serve. This issue is important to the global accountancy profession and we aim to continue working with a range of stakeholders to address the challenges ahead,” he said.
IFAC said its three key messages on climate action are: