The Need for Sustainability Accounting Standards in a Time of Rapid Climate Change — Presentation Detail — Celebration of Scholars

Instructions

Student presentations must have a faculty sponsor.

Abstracts must include a title and a description of the research, scholarship, or creative work. The description should be 150-225 words in length and constructed in a format or style appropriate for the presenter’s discipline.

The following points should be addressed within the selected format or style for the abstract:

A clear statement of the problem or question you pursued, or the scholarly goal or creative theme achieved in your work.
A brief comment about the significance or uniqueness of the work.
A clear description of the methods used to achieve the purpose or goals for the work.
A statement of the conclusions, results, outcomes, or recommendations, or if the work is still in progress, the results you expect to report at the event.

Presenter photographs should be head and shoulder shots comparable to passport photos.

Additional Information

More information is available at carthage.edu/celebration-scholars/. The following are members of the Research, Scholarship, and Creativity Committee who are eager to listen to ideas and answer questions:

Jun Wang
Kim Instenes
John Kirk
Nora Nickels
Andrew Pustina
James Ripley

The Need for Sustainability Accounting Standards in a Time of Rapid Climate Change

Name: Emily Reinhard
Major: Accounting, Finance, Marketing
Hometown: Wheaton
Faculty Sponsor:
Other Sponsors:
Type of research: Senior thesis

Abstract

Climate change is wreaking wide-spread havoc across the globe and can no longer be ignored. The objective of this in-depth industry analysis is to take a closer look at the sustainability accounting sector and explain why companies need to adopt sustainability accounting standards. Companies must be measured on their nonfinancial performance, which includes environmental impact, in addition to financial performance. A few independent organizations have developed sustainability standards for multiple industries designed for various stakeholders, but currently, companies are not required to abide by them. More effort should be focused on mitigating a company’s social and environmental impacts, both for the long-term financial benefit of the company as well as for the health and wellbeing of society and the future of the planet. Considering the information released in the 2018 Special Climate Report from the Intergovernmental Panel on Climate Change, immediate action must be taken to avoid environmental disaster in the very near future. Although many companies are a driving force for a cleaner environment, the majority of them remain motivated by bottom-line profit. The United States government can not be relied on to regulate companies in terms of environmental impact. Therefore, it is up to investors and consumers, among other stakeholders, to demand a change from corporations in order to save the planet.

Poster file