From compliance
to commercial value
From compliance
to commercial value
At a time of pushback against net zero, the ICAS Sustainability Summit 2026 in October will show why the business case is now stronger than ever. ‘We’re seeing more companies get real on this agenda,’ says keynote speaker Fiona Watson
The conversation around sustainability is changing. While headlines often focus on the cost of transformation and challenging regulatory and reporting requirements, organisations are recognising sustainability as a driver of growth, resilience and long-term value creation.
The ICAS Sustainability Summit 2026 is taking place in a new hybrid format from Edinburgh’s Dovecot Studios on October 7, bringing together influential voices from a range of perspectives.
As well as a keynote speech from Fiona Watson, Vice President of the World Business Council for Sustainable Development (WBCSD), we have two panels examining why, far from being a burden, sustainability is core to long-term business success, and how CAs will be central to that resilience and growth.
The conversation around sustainability is changing. While headlines often focus on the cost of transformation and challenging regulatory and reporting requirements, organisations are recognising sustainability as a driver of growth, resilience and long-term value creation.
The ICAS Sustainability Summit 2026 is taking place in a new hybrid format from Edinburgh’s Dovecot Studios on October 7, bringing together influential voices from a range of perspectives.
As well as a keynote speech from Fiona Watson, Vice President of the World Business Council for Sustainable Development (WBCSD), we have two panels examining why, far from being a burden, sustainability is core to long-term business success, and how CAs will be central to that resilience and growth.
HOST
Dr Sarah Ivory, academic and consultant
Dr Sarah Ivory is an academic, author and consultant. She spent two decades at the University of Edinburgh, including as the inaugural Director of the Centre for Business, Climate Change and Sustainability, and has authored two textbooks with Oxford University Press.
HOST
Dr Sarah Ivory, academic and consultant
Dr Sarah Ivory is an academic, author and consultant. She spent two decades at the University of Edinburgh, including as the inaugural Director of the Centre for Business, Climate Change and Sustainability, and has authored two textbooks with Oxford University Press.
KEYNOTE SPEAKER
Fiona Watson, Vice President, WBCSD
Fiona joined WBCSD in 2023 with more than 25 years’ experience working on transformative agendas in finance and industry. A member of its leadership team, she leads its work on corporate performance and accountability.
What Fiona does…
I’m working to incentivise capital allocation in support of sustainable and resilient business models. WBCSD is a global, executive-led community of more than 230 leading companies working together to accelerate the system transformations required for a more sustainable future. As a repurposed US capital markets lawyer and amateur accountant, I now lead WBCSD’s work on corporate performance and accountability, focusing on accelerating the integration of decision-useful information on sustainability into corporate strategy and financial markets. In simple terms, I was recently introduced to Pope Leo as Fiona “who is working to change capitalism”.
The state of play in sustainability…
There’s a narrative that there’s been a retreat, but what we’re really seeing is a recalibration. After an extended period of ambition and target setting, this agenda is getting real for corporates, financial institutions, policymakers and society at large. The disclosure agenda – and the reality of incorporating sustainability information into corporate reporting – has a big role to play in this recalibration. Accountants and reporting professionals are now key players in this agenda.
It is increasingly clear that those companies that are integrating sustainability into decision making are better able to recognise the business case, accelerate progress and realise the financial benefits. This goes beyond net zero and greenhouse gas data. As we have seen over the summer, resilience to the changing environment is a rapid source competitive advantage.
WBCSD’s Business Breakthrough Barometer indicates that 92% of leaders expect sustainability to be a source of competitive advantage over the next five to 10 years. More individuals and companies are realising how important it is to allow their people to invest time in discussions around sustainability. This is not a nice-to-have – it’s a must-have. Leaders polled in our survey now view a disorderly transition – one that is unplanned or poorly coordinated – as more likely than a year ago, so the threat is recognised. Forty-seven per cent of companies experienced higher costs from physical climate impacts this year than last.
It’s a very challenging time for business leaders to parse out the noise from the media, with boards, CEOs, CFOs, business leaders and investors asking sharper questions. That has significant implications for their advisers.
The impact of the hottest summer on record
Almost every part of the world this year has been touched by the impact of extreme weather. The challenge is how we translate that growing fear of the changing physical environment to something more systemic for the professional and corporate world.
In our presentations of physical risks in supply chains, one of the metrics we advised boards to look out for was rising insurance premiums. Going into 2026, there was actually a significant softening of insurance premiums, solely because there hadn’t been a large-loss event in the US. The atmospheric changes were still real, and there were more category five hurricanes than ever, but they didn’t make landfall and didn’t cause the economic losses that would have driven the impact on insurance premiums. We’re now looking at 2027, with record temperatures and further predictions for a super-El Nino event. Together this is already having devastating consequences for nature, agriculture, infrastructure and people. Where do we go from here?
That’s where we need to think carefully, and why forums like the ICAS Sustainability Summit are so important. Because we need to consider whether we’re getting the right signals. A lot of the financial impacts from the changing world arise far beyond the factory gate – do business leaders know where their exposure is?
The opportunities in sustainability
Those opportunities are best realised by having a wide lens on what’s happening. For example, China has been quietly investing in this space for a very long time. It now leads globally on clean energy investment, EV [electric vehicle] production and adoption, battery manufacturing, solar manufacturing, renewable energy and cleantech. I think that accounts for more than a third of its GDP growth now.
“If you’ve got the right leadership and mindset, the opportunity is there. This is an incredibly exciting time, but it takes vision”
The opportunities are there if you choose to invest in them. If you’re not in a position to create that market yourself, you can work with your suppliers, your customers and policymakers to create those opportunities. So this is an innovation agenda. This is a responsible growth agenda. Period.
Look at Octopus Energy Group. Within the space of nine years it has become the UK’s largest supplier of energy and a global leader in sustainable energy.
The ICAS Sustainability Summit returns to Edinburgh
The ICAS Sustainability Summit returns to Edinburgh
For those without a strategy on sustainability…
I’d like to be a fly on the wall in their board meetings. If the actual and potential impacts, risks and opportunities of a changing environment and society have been considered as not material on a net basis, I’d love to know – as that sounds like a good sector to be in! One way of looking at this is: if you can’t see the carrot, be very aware of the stick, because the stick is coming. WBCSD works a lot on capacity building and education; the ability to learn, unlearn and relearn is one of the most critical leadership capabilities to have.
What to expect from Fiona’s keynote
My boss Peter Bakker has said “accountants will save the world”, which means they have a lot of work to do! I look forward to sharing some insights on how and why it’s so critical for the profession to continue to rise to this challenge.
Accountancy and accountants bring credibility to how corporate performance is measured, reported and valued. In my experience, it’s been the CFOs who have been quickest to understand the significance of the sustainability agenda to business performance. As we reflect on progress we have made in the 250 years since [Adam Smith’s] The Wealth of Nations, we need to ask some potentially uncomfortable questions about what we are accounting for, and what we value.
Why you should attend this year’s summit
Events such as the ICAS Sustainability Summit are critical, particularly for the accounting profession, which has a crucial role to play in fostering understanding of how the changing physical world impacts business performance.
It’s only when we come together, to listen to and learn from fellow professionals, that you start to understand how you can be a better accounting professional in whatever role you play. The convening, the collaboration, the conversation, the act of listening… it’s all so crucial for a profession that is seeking to keep its place as one that is the most adaptable, technologically advanced and trusted to deliver in public interest.
Increasingly, we see the value of talking to people struggling with headwinds in their profession, whether that’s because they aren’t heard or can’t find traction. By understanding what works, and what doesn’t, you sharpen your arguments, and the presentation of your business case for moving forward on these challenges in a way that will help you get traction with your board and your investors.
For individuals who are looking to enhance the value they can bring to their role, taking the time out to attend this year’s ICAS Sustainability Summit will be a no-regrets initiative.
KEYNOTE SPEAKER
Fiona Watson, Vice President, WBCSD
Fiona joined WBCSD in 2023 with more than 25 years’ experience working on transformative agendas in finance and industry. A member of its leadership team, she leads its work on corporate performance and accountability.
What Fiona does…
I’m working to incentivise capital allocation in support of sustainable and resilient business models. WBCSD is a global, executive-led community of more than 230 leading companies working together to accelerate the system transformations required for a more sustainable future. As a repurposed US capital markets lawyer and amateur accountant, I now lead WBCSD’s work on corporate performance and accountability, focusing on accelerating the integration of decision-useful information on sustainability into corporate strategy and financial markets. In simple terms, I was recently introduced to Pope Leo as Fiona “who is working to change capitalism”.
The state of play in sustainability…
There’s a narrative that there’s been a retreat, but what we’re really seeing is a recalibration. After an extended period of ambition and target setting, this agenda is getting real for corporates, financial institutions, policymakers and society at large. The disclosure agenda – and the reality of incorporating sustainability information into corporate reporting – has a big role to play in this recalibration. Accountants and reporting professionals are now key players in this agenda.
It is increasingly clear that those companies that are integrating sustainability into decision making are better able to recognise the business case, accelerate progress and realise the financial benefits. This goes beyond net zero and greenhouse gas data. As we have seen over the summer, resilience to the changing environment is a rapid source competitive advantage.
WBCSD’s Business Breakthrough Barometer indicates that 92% of leaders expect sustainability to be a source of competitive advantage over the next five to 10 years. More individuals and companies are realising how important it is to allow their people to invest time in discussions around sustainability. This is not a nice-to-have – it’s a must-have. Leaders polled in our survey now view a disorderly transition – one that is unplanned or poorly coordinated – as more likely than a year ago, so the threat is recognised. Forty-seven per cent of companies experienced higher costs from physical climate impacts this year than last.
It’s a very challenging time for business leaders to parse out the noise from the media, with boards, CEOs, CFOs, business leaders and investors asking sharper questions. That has significant implications for their advisers.
The impact of the hottest summer on record
Almost every part of the world this year has been touched by the impact of extreme weather. The challenge is how we translate that growing fear of the changing physical environment to something more systemic for the professional and corporate world.
In our presentations of physical risks in supply chains, one of the metrics we advised boards to look out for was rising insurance premiums. Going into 2026, there was actually a significant softening of insurance premiums, solely because there hadn’t been a large-loss event in the US. The atmospheric changes were still real, and there were more category five hurricanes than ever, but they didn’t make landfall and didn’t cause the economic losses that would have driven the impact on insurance premiums. We’re now looking at 2027, with record temperatures and further predictions for a super-El Nino event. Together this is already having devastating consequences for nature, agriculture, infrastructure and people. Where do we go from here?
That’s where we need to think carefully, and why forums like the ICAS Sustainability Summit are so important. Because we need to consider whether we’re getting the right signals. A lot of the financial impacts from the changing world arise far beyond the factory gate – do business leaders know where their exposure is?
The opportunities in sustainability
Those opportunities are best realised by having a wide lens on what’s happening. For example, China has been quietly investing in this space for a very long time. It now leads globally on clean energy investment, EV [electric vehicle] production and adoption, battery manufacturing, solar manufacturing, renewable energy and cleantech. I think that accounts for more than a third of its GDP growth now.
“If you’ve got the right leadership and mindset, the opportunity is there. This is an incredibly exciting time, but it takes vision”
The opportunities are there if you choose to invest in them. If you’re not in a position to create that market yourself, you can work with your suppliers, your customers and policymakers to create those opportunities. So this is an innovation agenda. This is a responsible growth agenda. Period.
Look at Octopus Energy Group. Within the space of nine years it has become the UK’s largest supplier of energy and a global leader in sustainable energy.
The ICAS Sustainability Summit returns to Edinburgh
The ICAS Sustainability Summit returns to Edinburgh
For those without a strategy on sustainability…
I’d like to be a fly on the wall in their board meetings. If the actual and potential impacts, risks and opportunities of a changing environment and society have been considered as not material on a net basis, I’d love to know – as that sounds like a good sector to be in! One way of looking at this is: if you can’t see the carrot, be very aware of the stick, because the stick is coming. WBCSD works a lot on capacity building and education; the ability to learn, unlearn and relearn is one of the most critical leadership capabilities to have.
What to expect from Fiona’s keynote
My boss Peter Bakker has said “accountants will save the world”, which means they have a lot of work to do! I look forward to sharing some insights on how and why it’s so critical for the profession to continue to rise to this challenge.
Accountancy and accountants bring credibility to how corporate performance is measured, reported and valued. In my experience, it’s been the CFOs who have been quickest to understand the significance of the sustainability agenda to business performance. As we reflect on progress we have made in the 250 years since [Adam Smith’s] The Wealth of Nations, we need to ask some potentially uncomfortable questions about what we are accounting for, and what we value.
Why you should attend this year’s summit
Events such as the ICAS Sustainability Summit are critical, particularly for the accounting profession, which has a crucial role to play in fostering understanding of how the changing physical world impacts business performance.
It’s only when we come together, to listen to and learn from fellow professionals, that you start to understand how you can be a better accounting professional in whatever role you play. The convening, the collaboration, the conversation, the act of listening… it’s all so crucial for a profession that is seeking to keep its place as one that is the most adaptable, technologically advanced and trusted to deliver in public interest.
Increasingly, we see the value of talking to people struggling with headwinds in their profession, whether that’s because they aren’t heard or can’t find traction. By understanding what works, and what doesn’t, you sharpen your arguments, and the presentation of your business case for moving forward on these challenges in a way that will help you get traction with your board and your investors.
For individuals who are looking to enhance the value they can bring to their role, taking the time out to attend this year’s ICAS Sustainability Summit will be a no-regrets initiative.
PANEL 1
Why sustainability remains critical to commercial success
This session will explore sustainability through the lens of investors, business leaders and decision-makers, examining how organisations can identify opportunities and manage risk, and why action now is essential to building long-term resilience.
Tara Schmidt, Executive Director, Transition Finance Scotland
Tara is Executive Director of Transition Finance Scotland, the Green Finance Institute’s mission to accelerate finance for Scotland’s energy transition. She has more than 25 years’ experience in the field, having held senior roles at Lloyds Bank and Bank of Scotland.
Russell Picot, Deputy Chair, Universities Superannuation Scheme
Russell is Deputy Chair of the Universities Superannuation Scheme, the UK’s largest private sector pension scheme, and chairs its investment committee. He previously chaired HSBC UK’s pension scheme, co-chaired the Financial Stability Board’s Enhanced Disclosure Task Force and helped set up Accounting for Sustainability.
Sophie Dejonckheere, Head of Climate and Transition Strategy, Corporate and Institutional, Lloyds Bank
Sophie leads Lloyds’ client and transition team, advising clients on sustainable finance and transition strategy. Formerly a partner at Boston Consulting Group, she led global work on green debt capital market policy and taxonomies, adaptation and resilience, and blended finance in emerging markets.
PANEL 1
Why sustainability remains critical to commercial success
This session will explore sustainability through the lens of investors, business leaders and decision-makers, examining how organisations can identify opportunities and manage risk, and why action now is essential to building long-term resilience.
Tara Schmidt, Executive Director, Transition Finance Scotland
Tara is Executive Director of Transition Finance Scotland, the Green Finance Institute’s mission to accelerate finance for Scotland’s energy transition. She has more than 25 years’ experience in the field, having held senior roles at Lloyds Bank and Bank of Scotland.
Russell Picot, Deputy Chair, Universities Superannuation Scheme
Russell is Deputy Chair of the Universities Superannuation Scheme, the UK’s largest private sector pension scheme, and chairs its investment committee. He previously chaired HSBC UK’s pension scheme, co-chaired the Financial Stability Board’s Enhanced Disclosure Task Force and helped set up Accounting for Sustainability.
Sophie Dejonckheere, Head of Climate and Transition Strategy, Corporate and Institutional, Lloyds Bank
Sophie leads Lloyds’ client and transition team, advising clients on sustainable finance and transition strategy. Formerly a partner at Boston Consulting Group, she led global work on green debt capital market policy and taxonomies, adaptation and resilience, and blended finance in emerging markets.
PANEL 2
How accountants play a key role in sustainability
This session will explore how sustainability considerations are being embedded into risk management, planning, reporting, assurance, investor relations and business strategy. Through real-world examples, panellists will demonstrate how finance professionals are helping organisations connect sustainability data with financial performance and long-term decision-making.
Laura Guittard, Vice President of Global Finance Risk, Controls & ESG Reporting, GSK
Laura is a seasoned finance professional with an extensive multinational background. Currently a VP at healthcare giant GSK, she has experience in financial planning and analysis, strategy assessment, business development, environmental, social and governance (ESG) and much more.
Dr George Cobb CA,
Are Salt Consultancy
George is a regulatory finance consultant with 17 years’ experience across the energy and financial sectors. As Director of We Are Salt Consultancy, he currently provides regulatory finance and policy advisory for offshore wind and transmission projects.
Martin Murray OBE CA, Finance Director,
Swire Pacific
Martin is Finance Director of Swire Pacific and leads its ESG strategy and sustainable development office. He also serves as a council member for the WBCSD and was awarded the Climate Leadership Award at the 2025 Finance for the Future Awards for his work linking sustainability initiatives to measurable business outcomes.
PANEL 2
How accountants play a key role in sustainability
This session will explore how sustainability considerations are being embedded into risk management, planning, reporting, assurance, investor relations and business strategy. Through real-world examples, panellists will demonstrate how finance professionals are helping organisations connect sustainability data with financial performance and long-term decision-making.
Laura Guittard, Vice President of Global Finance Risk, Controls & ESG Reporting, GSK
Laura is a seasoned finance professional with an extensive multinational background. Currently a VP at healthcare giant GSK, she has experience in financial planning and analysis, strategy assessment, business development, environmental, social and governance (ESG) and much more.
Dr George Cobb CA,
Are Salt Consultancy
George is a regulatory finance consultant with 17 years’ experience across the energy and financial sectors. As Director of We Are Salt Consultancy, he currently provides regulatory finance and policy advisory for offshore wind and transmission projects.
Martin Murray OBE CA, Finance Director,
Swire Pacific
Martin Murray OBE is Finance Director of Swire Pacific and leads its ESG strategy and sustainable development office. He also serves as a council member for the WBCSD and was awarded the Climate Leadership Award at the 2025 Finance for the Future Awards for his work linking sustainability initiatives to measurable business outcomes.
The ICAS Sustainability Summit 2026, on 7 Ocotber 2026, is free for members and students and £80 + VAT for non-members. See the full programme and book your place
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