Montréal, April 16, 2025 – As pressure builds on companies to integrate environmental, social and governance (ESG) factors, a new study published by Finance Montréal, the Ordre des CPA du Québec and Credo Impact sheds light on the changing responsibilities of corporate finance professionals.
Entitled “Les métiers de la finance en entreprise en contexte de transition écologique”, this study explores emerging skills, obstacles encountered and levers for action to accelerate the adoption of sustainable finance practices. Its findings are based on a literature review of various emerging trends in sustainable finance, the opinions of a dozen experts in extra-financial reporting, and a consultation with finance professionals currently working in Quebec SMEs. The Ordre des CPA du Québec and Finance Montréal will use these results to help finance professionals adapt to the new imperatives of sustainability.
A necessary evolution in practices to develop corporate resilience
The study reveals that the transition to sustainable finance requires much more than a technical adjustment. It involves an evolution in financial practices, a renewed professional culture and improved skills in data collection, extra-financial reporting and strategic governance.
‘‘Counting what really matters transforms financial value creation into systemic value creation, essential to meeting today's challenges. The study highlights the growing role of finance professionals in the transition to a regenerative and equitable economy. By developing the recommended short- and mid-term skills, these players are helping to reconcile the economy with the expectations of society and the planet, while promoting harmonization between societal, environmental and economic dimensions. It is imperative to recognize that the privatization of profits can no longer continue at the expense of collective socio-ecological costs”, explains Ghani Kolli, CEO of Credo Impact.
Considering these findings, the study recommends short- and long-term courses of action, targeting both the technical knowledge (hard skills) and the enabling capacities (soft skills) of professionals. They are categorized into three levels of action - micro, meso and macro - and aim to strengthen individual skills, organizational dynamics and systemic levers required for the sustainable integration of ESG issues.
Skills identified in the short term include ESG impact measurement, carbon accounting, extra-financial reporting and ESG performance interpretation. In the longer term, industry professionals will need to master multi-capital accounting, extra-financial asset valuation and ESG risk management.
Concrete recommendations to speed up the transition
The study suggests a clear set of recommendations to support the evolution of finance professions in the face of ESG challenges:
- On a micro scale: prepare individuals and companies for the transformations to come, notably by promoting the acquisition of new skills and a change in professional culture.
- On a meso scale: encourage institutions - professional orders, industry associations, academia - to actively collaborate in order to:
- structure the training offering;
- adapt tools;
- facilitate the deployment of robust practices.
- On a macro scale: strengthen the regulatory framework and economic incentives to create an environment conducive to the widespread adoption of sustainable finance.
‘‘Quebec CPAs play a central role in the evolution of business practices, including sustainability. Their strategic skills and rigor make them valuable allies for organizations, and the Ordre, as part of its mission to protect the public, is committed to supporting them in this transition”, says Geneviève Mottard, CPA, President and CEO of the Ordre des CPA du Québec.
‘‘The transition to a sustainable economy is largely based on the financial sector's ability to adapt and innovate. This study highlights an essential lever: the growing role of corporate finance professionals. Finance Montréal is committed to mobilizing the ecosystem around this evolution to support talent, accelerate the adoption of ESG practices and make sustainable finance a driver of competitiveness”, adds Jacques Deforges, Chief Executive Officer of Finance Montréal.
These recommendations are part of a movement that has already begun. By highlighting the levers for action available now, the study outlines a pragmatic roadmap for changing practices, reducing the gap between expectations and capabilities, and strengthening the resilience of our economy.
To find out about the study highlights (in French only).
To read the full study (in French only).
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About the Ordre des CPA
L’Ordre des comptables professionnels agréés du Québec est l’organisme de réglementation et de supervision de la profession comptable au Québec. Il veille à la protection du public en s’assurant du respect des normes les plus élevées en matière de compétence et d’éthique par ses membres. Représentant plus de 41 000 CPA, l’Ordre joue un rôle clé dans le développement économique et financier du Québec en soutenant l’excellence et l’innovation au sein de la profession.
About Finance Montréal
Founded in 2010, Finance Montréal, Quebec’s financial cluster, plays a central role in the development and promotion of Quebec’s financial services industry and its positioning as a world-class, growing, competitive, attractive, and innovative business hub. Through its International Financial Center (IFC) team, Finance Montréal works to attract foreign financial firms to Montréal. The organization also focuses on fintech and innovation, sustainable finance, and talent development. As a hub for the financial community, Finance Montréal brings together key stakeholders around these core areas, notably through the community centered around the Station Fintech Montréal, which it manages. To learn more, visit www.finance-montreal.com or follow us on LinkedIn.
About Credo Impact
Founded in 2014, Credo is a B Corp-certified impact strategy consulting firm that supports private, public and social organizations that want to act boldly and effectively on important social and environmental issues. Credo Impact's mission is to accelerate social and environmental change. The company achieves this through consulting activities, collective initiatives and the advancement of knowledge. To find out more about Credo Impact, visit www.credoimpact.com.
Information
For the Ordre des CPA du Québec: Christophe Poirier (cpoirier@cpaquebec.ca)
For Finance Montréal: Julie Desjardins (julie.desjardins@finance-montreal.com)
For Credo Impact: Nancy Ha (nancy@credoimpact.com)
