Why tax is crucial to ESG principles

Feb 8, 2023

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ESG is becoming an increasingly familiar acronym, standing for environmental, social and governance. Similarly, ESG analysis has become an increasingly important part of the tax compliance process and, for CPAs, it’s a key area to understand as part of a taxpayer’s overall financial snapshot.

On this Tax Section Odyssey episode, April Walker, CPA, CGMA, Lead Manager — Tax Practice & Ethics, AICPA & CIMA, chats with April Little, CPA, Partner, Tax Risk & Advisory Services — Grant Thornton, about the importance of ESG matters and why tax practitioners need to be part of the conversation.

What you’ll learn in this episode:

High level introduction to ESG and sustainability topics (0.54)
Why accountants are (and should be) interested in the ESG area (6.35)
Why all-sized firms, including smaller firms, need to get up to speed and focus on ESG (9.02)
Where tax specifically fits in with ESG (11.05)
A deeper dive into the “g” of ESG — governance (13.47)
What companies are currently doing around ESG and tax risk management (14.59)
A page from April Little’s travel journal (18.06)

Related resources:

ESG and taxation: A necessary part of a company’s strategic objectives, The Tax Adviser, Oct. 6, 2022
Key tax provisions in the Senate reconciliation bill, The Tax Adviser, Oct. Aug. 8, 2022
Energy Tax Credits And ESG Client Letter — Inform your clients about ESG investing and energy tax credits for electric vehicles and residential energy efficiency
Inflation Reduction Act Energy Credits Chart — Learn more about the energy credits related to home improvements and electric vehicles from the Inflation Reduction Act.
Tax Policy & Regulatory Change — Stay informed on the latest in tax legislation and tax policy developments. To support members and the profession, we have collated relevant guidance, resources and learning opportunities — and will continue to add new materials as tax law changes unfold.

Keep your finger on the pulse of the dynamic and evolving tax landscape with insights from tax thought leaders in the AICPA Tax Section. The Tax Section Odyssey podcast includes a digest of tax developments, trending issues and practice management tips that you need to be aware of to elevate your professional development and your firm practices.

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