How could Cop30 impact accountants?

Accountancy is on the agenda as world leaders gather in Brazil. Here are some of the opportunities that could come your way.

The Cop30 climate summit is bringing together world leaders, policymakers, entrepreneurs, environmental activists, royals and… accountants!  

The likes of KPMG and Deloitte, as well as industry non-profits such as the Sustainability Accounting Standards Board (SASB) will be attending the summit, hosting events and contributing to panel discussions.  

Carbon credits, sustainable investment and net zero transitions are all on the agenda at the annual climate talks currently taking place in Belém, Brazil. But how will these discussions impact the jobs accountants will do in the years to come? 

Changing climate, changing attitudes

Over the last 15 years there’s been a growing idea that the solution to climate change isn’t just about planting trees but managing balance sheets too.  

Accountants’ roles have been shifting for some time now, in part thanks to AI adoption. Accountants are expected to support businesses with data analysis, market trend predictions and strategic decision-making. Carbon accounting is one more area where they’re providing value. 

Accountants will play a crucial role in helping businesses and countries hit their sustainability targets, whether it’s assessing a company’s carbon footprint or environmental, social and governance (ESG) reporting. 

As countries transition towards these net zero goals, accountants will be rolling up their sleeves and diving into ESG transparency, sustainable finance/impact investing, plus scrutinising businesses’ supply chains. As such, there will be increased demand for accountants with sustainability knowledge. 

Still, accountants working on ESG-related finances could face challenges. Cop30 is likely to reveal that many countries have varying commitments when it comes to achieving their sustainability targets. Also, 2025 so far has seen many large corporations scale back on sustainability. Over half (54%) of British businesses said they have changed the way they approach ethical policies and practices this year, according to recent research from law firm Freeths. 

From carbon credits to climate risk reporting, here’s what’s likely to be on the agenda at Cop30 over the next fortnight, and how it could result in green-collar opportunities for accountants. 

1 Helping businesses transition to net zero

What is it? At Cop15 in Paris a decade ago, 196 countries (almost every nation on Earth) signed a climate deal to limit global warming to below 2C above pre-industrial levels. As part of this agreement, many countries and businesses pledged to make net zero transitions. The UK, for example, currently plans to reach net zero greenhouse gas emissions by 2050.  

Nations are also required to submit nationally determined contributions (NDCs) at Cop30. Those are climate action plans detailing how they will achieve these goals. Alongside this, a new UN framework is likely to be adopted to help governments and businesses put people at the heart of their net zero transitions, including creating new jobs and offering training in green industries.  

How can accountants help? The net zero sector in the UK is big, growing three times faster than the British economy and employing nearly one million people, according to the CBI. Accountants are already part of this burgeoning sector, integrating climate goals into companies’ financial forecasts to help them develop and track their net zero strategies. 

There are also more opportunities for accountants as strategic climate advisers. Organisations which are reducing their carbon emissions want to stay profitable at the same time. Businesses are looking for smart and creative thinkers, and accountants areincreasingly helping. Whether that’s giving guidance on the operational costs of upgrading to energy-efficient lighting, adopting a fleet of electric vehicles or changing their energy supply to renewable sources.  

On a national level, accountants will advise policymakers on issues such as carbon taxation or subsidies for green technologies such as solar power.  

There are also international opportunities for accountants. The global sustainability market is set to hit $54bn (£41bn) while ESG risk and reporting is forecast to grow 7% in 2025 to $9.5bn (£7.2bn) according to Source Global Research. The Middle East is the fastest-growing sector, as countries such as Saudi Arabia and UAE attempt to diversify their economies away from oil.  

2 Encouraging sustainable investment

What is it? At Cop30 will likely introduce new plans driving sustainable and impact investment. Businesses will be encouraged to incorporate ESG factors into their decision-making (such as banning companies involved in fossil fuels from their supply chain) or to invest in eco-focused companies (such as a social enterprise providing solar power for communities in Africa).  

How can accountants help? Businesses will need accountants to help them invest in sustainable technologies and startups that will deliver a long-term return on investment. Many governments are offering green tax incentives and subsidies to help businesses invest in clean technologies, and accountants will need to help businesses navigate this funding. They will also help advise businesses on green bonds and sustainable loans.  

There are growing concerns about the effectiveness of climate financing, with Bill Gates making a plea on his website just before the Belém conference: “I urge everyone at Cop30 to ask . . . is the money designated for climate being spent on the right things? I believe the answer is no.” Therefore, accountants will help ensure businesses’ sustainable investments are well-managed and transparent. 

3 Assessing carbon credits and carbon markets

What is it? To help finance the decarbonisation of the global economy, huge sums of money are needed. Carbon credits and carbon markets can accelerate this transition by giving businesses and governments financial incentives to reduce their emissions.  

Businesses can buy and sell carbon credits – with each carbon credit equal to a ton of carbon dioxide removed from the atmosphere and coming from sources such as tree-planting schemes or renewable energy projects.  

When businesses trade such carbon credits through a carbon market, it creates a mechanism for pricing carbon, which can generate funding for carbon offset projects such as reforestation. 

For nations, trading on a carbon market helps them contribute to cutting global emissions at a faster rate. For example, if a major polluter such as China or the US is having problems cutting emissions in line with their NDCs and net zero commitments, they could pay for a large-scale reforestation project in South America, or solar power initiatives in Africa. This would help push the world further towards meeting its target of reaching the international climate target of 2C. 

Carbon markets are expected to feature prominently at Cop30. The complex accounting rules and standards needed to trade on international carbon markets are set to be established and finalised at the summit. Brazil has already spearheaded a new coalition at Cop30 aiming to make carbon trading more effective: the UK, China and the European Union have all signed up. 

How can accountants help? Some sectors are more difficult to decarbonise than others, such as steel, chemicals and aviation. In these industries, accountants can help organisations calculate their carbon credits and give financial advice on carbon offset projects.  

However, trust in carbon credits is somewhat shaky thanks to a series of recent fraud scandals and exposés about environmentally useless credits. One 2023 investigation by The Guardian found many of the forest carbon offsets used by businesses such as Disney, Shell and Gucci were “worthless”.  

Therefore, robust accountancy practices are crucial to ensure carbon markets work well. This could involve helping businesses evaluate any carbon credits they may have purchased (and verifying whether they represent real reductions) plus transparent reporting on carbon credit transactions.  

4 Working on climate adaptation

What is it? Climate adaptation involves helping communities adjust to the impact of climate change, such as strengthening flood barriers to protect cities from rising sea levels or retrofitting buildings so they’re more resilient to extreme weather such as hurricanes or heatwaves.   

How can accountants help? At Cop29 in Baku last year, wealthier countries committed to give developing nations at least $300bn (about £227bn) a year by 2035 to help them combat climate change. Accountants are expected to play a role in helping determine how this money will be used. They will also be needed to help businesses and governments develop financial strategies to help adjust to climate change.

Christian Koch is an award-winning journalist/editor who has written for the Evening Standard, Sunday Times, Guardian, Telegraph, The Independent, Q, The Face and Metro. He's also written about business for Accounting Technician, 20 and Director, where he is contributing editor.