Workshop: Financing a sustainable agriculture – the role of accounting reform

Hélène Le Téno, Head of the Ecological Transition Sector at Groupe SOS, will present the results of an experiment of “triple capital accounting” for sustainable farming.

Mireille Martini, Research & Advocacy Officer on Sustainable Finance at Finance Watch, will convene a discussion on the potential impact that such alternative accounting methodologies could have on the access of sustainable agriculture projects to finance.

Caroline Christophe, is co-Founder of les Terres d’Ici, a Belgium-based ecological farm project. She will present the lessons learnt from the implementation of Triple Capital Accounting.

Context

The European Commission’s Action Plan on “Financing Sustainable Growth” considers “bold and ambitious policies towards meeting the challenges of climate change, environmental degradation, resource depletion, and social sustainability”.

Point 9 of the Action Plan states that “The Commission recognises the importance of ensuring that accounting standards do not directly or indirectly discourage sustainable and long-term investments. In this regard, consideration is needed about whether there could be more flexibility as concerns the endorsement of IFRSs wherever specific adjustments would be more conducive to long-term investment”.

The degradation of agricultural soils is alarming and shifting to  more sustainable agricultural practices is urgent. Securing financing is a key element of the required shift.

We are looking forward to share views with you on the opportunity to build an accounting reform agenda and take it forward in the regulatory instances.

Agenda

13h30: Welcome coffee and registration

14H00: Presentation by Hélène Le Téno, Head of the Ecological Transition Sector at Groupe SOS :

• The principles of Triple Capital Accounting
• Implementation for the « Fermes d’Avenir » project : case study and lessons learnt

14H30: Presentation by Caroline Christophe, les Terres d’Ici

• Lessons learnt from the implementation of Triple Capital Accounting at les Terres d’Ici

14H45: Presentation by Mireille Martini, Research and Advocacy Officer at Finance Watch :

• Environmental accounting : non financial reporting, the Kering example
• Adapting the current IFRS accounting framework to sustainability : the example of capitalization of natural capital expenditures
• The link between accounting reform and mainstreaming natural capital finance

15h15: Group discussion, moderated by M.Martini and H. Le Téno, around the following themes (non-exhaustive list) :

• Opportunity and feasibility to promote this agenda at EU level
• Identifying key players : EC level, advisory bodies, agribusiness industry, specialised investment funds
• Engagement strategy
• Next steps

16h45: Conclusion and workshop take away by Mireille Martini

17H00: Drink

With the support of