Ladies and Gentlemen, I am delighted to welcome you to St. James’s Palace today and I am much encouraged to see so many new faces, as well as some familiar ones.
For the regulars amongst you, I am glad that you have not been deterred by the Summit’s move to an earlier date – this is the first time that it has been held in November in twelve years.
Finance has a critical leadership role to play if we are to have any kind of a sustainable future.
We live in an age of unprecedented change – the so-called “Great Acceleration” – which is showing no signs of abating.
The trouble is the risks we face are interconnected, and we are not going to be able to shut ourselves away from these consequences.
There is a direct connection between what we do to the Earth and what we do to each other, and we have to realise how serious it will become if we do not act now.
The risks we face are growing, but it seems that the scale of innovation is also accelerating at a pace.
Ladies and Gentlemen, the world is changing and, if you don’t analyse and respond to these opportunities and risks, you will be stuck with outdated and unsustainable business models.
Innovation is also needed in how we perceive value. We need to move beyond narrowly defined financial measures and give full recognition to the value of natural, social and human capital.
There are also significant innovations underway in accounting.
I am also pleased to say that the network itself is growing.
The accounting bodies themselves are embedding these new techniques into their syllabi, and it is good to know that the A4S Accounting Bodies Network are committed to deliver on this.
Ladies and Gentlemen, I will look forward very much to hearing about the progress you have made at next year’s Summit.
Source: Royal Central