Finance pros, embrace sustainability – and make the business resilient
Could new sustainability reporting regulation help treasurers secure better financing? Karina Sundbæk, of Denmark’s Topsoe, is convinced it can – in case the corporation is truly engaged. At Treasury 360° Nordic on 23 May, hear her describe how her own finance function is taking a lead on generating change, and how a formal mandate plays a key role behind it.
At Treasury 360° Nordic 2024, at Copenhagen Airport on 23 May, Karina Sundbæk will present her case study “Go get the green mandate”, scheduled for 11:25 in Track B. Read all about the conference here.
“It’s about how we, as a finance function, can actively contribute to advancing the green agenda within companies, whether as treasurers or in other roles,” says Karina Sundbæk, head of Group Finance & Facility at Topsoe, a Danish company that specialises in developing solutions and technologies to produce fuels and chemicals essential to the energy transition.
She sees finance playing a crucial role in the green transition of companies. “By embracing sustainability as a strategic imperative, finance functions can not only contribute to environmental stewardship but also drive financial performance and resilience”, she says. “Sustainability initiatives should be integrated across all aspects of an organisation’s financial operations, not just relegated to specialised departments.”
“Early planning and clear communication are key.”
In her session, Sundbæk will explain how Topsoe takes a proactive approach to integrate sustainability into its finance framework. The firm does this particularly in response to upcoming sustainability reporting requirements like the Corporate Sustainability Reporting Directive (CSRD) and the EU taxonomy. Sundbæk explains, “We are looking into the reporting on a lot of sustainability areas, not only as reporting requirements, but to see how we can help the green transition for a company.”
“Green mandate”
A formal authorisation empowers Topsoe’s finance team to lead sustainable initiatives, aligned with strategic goals.
“Securing the mandate is crucial to ensure the organisation is dedicated to take action to and drive a net zero plan. We must ensure the necessary funds and resources to enact these changes.”
Revamped processes and procedures are necessary to embed sustainability considerations and ensure they are an integrated part of ways of working. Sundbæk elaborates, “We now aim to ensure that when we prepare an investment case, we consider how to make it sustainable.”
Despite challenges, including the need for alignment between teams and garnering buy-in from key stakeholders like the board and audit committee, Topsoe navigates these hurdles smoothly, according to Sundbæk. “Early planning and clear communication are very important to overcoming these challenges.”
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