Why Get Your Finance Team Involved?
As businesses face growing pressures from regulators, customers, and their own decarbonisation commitments, finance teams are emerging as pivotal players in the carbon accounting space. CFOs, in particular, are uniquely positioned to lead this transformation, wielding control over critical data, budgets, and strategic influence to turn sustainability goals into actionable and financially sound results.
Here’s why carbon accounting is becoming an essential part of the CFO’s role and how Sumday empowers them to succeed.
Finance Teams (AKA: Keepers of the Data)
Carbon accounting starts with accurate and comprehensive data, much of which resides within the finance team’s domain. Procurement records energy bills, and supplier invoices—these financial documents often hold the keys to calculating a company’s emissions footprint. From purely an efficiency perspective, having a whole new team manage this data for sustainability reporting makes no sense when they finance team already know the transactions and where the source data sits.
At Sumday, we simplify this process for CFOs by streamlining data collection, even from suppliers who have never reported emissions data before. With our intuitive tools, finance teams can send customisable data requests to suppliers with just an email contact, enabling a shift from unreliable estimates to precise, real-world numbers.
This approach ensures transparency and builds the trust of stakeholders who rely on accurate, actionable emissions data.
Compliance Is Their Comfort Zone
As the regulatory landscape evolves, compliance with sustainability reporting standards like the EU’s Corporate Sustainability Reporting Directive (CSRD) is becoming non-negotiable. These frameworks demand the same level of rigour and accuracy that finance teams already apply to traditional financial reporting, making them natural custodians of carbon accounting. If you are a large SME or public company, you likely have additional audit requirements that require some form of controls or SOX compliance. To finance teams this is second nature, and by embedding them in the process you could save valuable time and resources in establishing these procedures.
Sumday’s platform is designed with this in mind, offering tools tailored to help companies of all sizes prepare for stringent compliance requirements, knowing what data and control you will need for the compliance measures you will implement. Whether it’s staying ahead of customer audits or meeting regulatory deadlines, Sumday equips CFOs to meet these challenges without disrupting existing workflows.
Turning Reduction Goals into Business Cases
Beyond compliance, finance teams play a crucial role in driving decarbonisation strategies. Achieving emissions reduction goals often requires significant investment, such as transitioning to renewable energy or upgrading to energy-efficient technologies. These initiatives require robust business cases that quantify ROI, secure budgets, and align with broader financial goals—a skillset firmly rooted in the CFO’s expertise.
Sumday’s AI-powered tools enhance this process by acting as an analyst, compliance expert, and communications assistant all in one. CFOs can evaluate the financial impact of various decarbonisation projects, identify cost-saving opportunities, and map out actionable roadmaps for achieving emissions targets.
A Strategic Opportunity for CFOs
At Sumday, we see carbon accounting as more than a compliance task - it’s a strategic opportunity. By integrating emissions data into financial planning, CFOs can identify risks, seize opportunities, and position their companies as leaders in a low-carbon economy.
Our platform is built to make carbon accounting accessible and reliable for small and mid-sized companies. Whether it’s collecting data from suppliers, meeting compliance requirements, or navigating the complexities of sustainability reporting, Sumday ensures CFOs have the tools they need to lead with confidence.
Sumday: The CFO’s Carbon Accounting Ally
As McKinsey recently highlighted, carbon accounting is transforming the role of CFOs, pushing them to the forefront of the sustainability movement. With Sumday, CFOs don’t just stay compliant, they gain the insights and tools to drive real change.
Our platform makes emissions tracking accessible and reliable for businesses of all sizes. From gathering primary emissions data from suppliers to helping finance teams navigate the complexities of sustainability reporting, we provide the tools and insights CFOs need to lead with confidence. With Sumday AI you only have to measure your carbon emissions once, and then generate hundreds of disclosures for various jurisdictions at the click of a button.
Together, we can empower finance teams to align financial performance with sustainability goals, driving meaningful impact for their businesses and the planet.
Carbon accounting is reshaping the role of the CFO, placing finance teams at the forefront of sustainability efforts. With Sumday, CFOs can stay compliant, make informed decisions, and turn sustainability ambitions into actionable business strategies.
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