The International Federation of Accountants and The Prince's Accounting for Sustainability Project have entered into a memorandum of understanding to support the role of global accounting in developing sustainable organizations.

Key priorities include raising awareness and facilitating sharing and collaboration across the global accounting community; establishing an international committee to develop a new reporting model; and incorporating accounting for sustainability within professional training and education.

The Prince's Accounting for Sustainability Project, which was created by the U.K.'s Prince Charles, works to develop practical guidance and tools for embedding sustainability into decision-making and reporting processes. For more, visit www.ifac.org.

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