Decolonizing Accounting: Reimagining ESG for a Just Transition
Abstract
The global financial system has become a significant player in the fight against climate change with many advocating for accounting initiatives to promote sustainability. The financial system can be a powerful force in addressing climate change by allocating capital responsibly, managing risks, fostering innovation, and influencing corporate behavior. As awareness of climate-related risks and opportunities continues to grow, the role of the financial system in the fight against climate change is likely to become even more significant. However, this approach may be flawed particularly when it comes to Indigenous rights and the neocolonial nature of the current financial landscape. I am concerned that certain accounting practices may perpetuate colonial frameworks and exacerbate existing inequalities, leading to questions about how just these methods are in addressing the climate crisis. This thesis aims to critically evaluate the interaction between accounting and indigenous rights, exploring the potential for these initiatives to be more equitable and benefit local and sovereign communities. The thesis will investigate the impact of accounting practices on Indigenous peoples, seeking to promote truly just outcomes. This thesis will contribute to ongoing discourse surrounding the role of accounting in addressing the climate crisis and highlight the need for a more accountable, decolonial approach. Ultimately, it advocates for a more equitable and comprehensive approach to ESG that aligns with the unique requirements of Indigenous communities while facilitating the transition to a sustainable, low-carbon future.