LONDON — The Institute of Chartered Accountants in England and Wales (ICAEW) and the UK Met Office have partnered to strengthen accountancy and finance professionals’ understanding of climate science and its application in business decision-making.
Announced on Monday (Nov 9), the strategic partnership aims to equip professionals with access to authoritative climate intelligence to better assess climate-related financial risks and opportunities, support resilience planning and improve business decisions.
The partnership was announced at ICAEW’s Sustainability Summit, its flagship global sustainability event.
It will also focus on improving the quality of financial reporting and sustainability disclosures relating to climate risks and opportunities, as well as strengthening the audit and assurance of such information.
The collaboration brings together the Met Office’s expertise in climate science and ICAEW’s knowledge of accountancy, finance and business leadership to help its members and students integrate climate intelligence into their professional roles.
The organisations also aim to make complex climate and sustainability issues more accessible and relevant to finance professionals at all levels, supporting greater confidence in decision-making, economic resilience and business competitiveness.
Joint learning and development materials are expected to be launched in 2027, drawing on the Met Office’s latest climate science, data and research, including work contributing to assessments by the Intergovernmental Panel on Climate Change (IPCC) and the UK’s latest climate risk assessment.
Reach More Customers.
Promote your business with Labuan Times.
Advertise Now →
ICAEW Chief Executive Alan Vallance said the partnership reflected the institute’s ambition to lead discussions on issues affecting the accountancy profession and businesses while strengthening the capabilities of its members and students.
“Boosting understanding of climate and sustainability intelligence to improve financial decision-making is integral to both ambitions and to advancing the transition to resilient, competitive economies.
“Working with the Met Office reflects our commitment to helping our members and the wider profession understand climate science and apply it to business decision-making,” he said.
Met Office Principal Fellow and Climate Services Lead Professor Jason Lowe OBE said the organisation would provide authoritative climate data, projections and scientific expertise to help translate climate intelligence into professional practice.
He said a better understanding of climate change and its scientific implications would enable finance and accountancy professionals to assess risks, improve sustainability reporting and identify opportunities arising from climate action.
Met Office Chief Customer Officer Steve Calder said the partnership would combine the organisation’s climate intelligence with ICAEW’s professional knowledge and support for accountancy practitioners.
He said the collaboration represented an important step towards addressing climate challenges in the UK and internationally.
Reach More Customers.
Promote your business with Labuan Times.
Advertise Now →
Meanwhile, ICAEW Director of Sustainability and Assurance Ravi Abeywardana said increasing climate volatility had made collaboration between the accountancy profession and climate scientists more important than ever.
He said the partnership would help finance and accountancy professionals interpret climate information and translate it into practical action.
Better use of climate intelligence could support investment and operational decisions, strengthen financial performance and resilience, and improve financial reporting, sustainability disclosures, assurance and risk management, he added.
The first initiative under the partnership will be a joint webinar organised by ICAEW and the Met Office in early 2027.
Source: ICAEW
