As 2022 gets under way, this edition explores some of the most important issues set to drive treasury policy in the year ahead, including digitisation and reducing emissions. Our main feature sets the scene, polling a variety of treasury and corporate experts on what they perceive as treasuries’ key challenges in the year ahead. Cybercrime, supply chain issues and the consequences of vaccine inequality make the shortlist. Rising energy prices, accentuated by greenflation as green politics continue to reduce the supply of key raw materials and slow investment in oil and minefields, will also stay front of mind.
This edition also explores the role of treasury in supporting companies to reduce their Scope 3 emissions, an immense task that has left many stuck on how best to proceed. EDF’s Head of Treasury, Bernard Descreux, explains how his team is leading initiatives at the French utility to reduce emissions in its supply chain that include issuing social bonds to finance its SME suppliers and launching a reverse factoring programme. Proof that these policies are beginning to work is evident in the fact EDF reduced its Scope 3 emissions by 11% last year.
Elsewhere, we look at how digital assets promise opportunity beyond just investing in bitcoin. Digital assets have the potential to transform how treasuries – if not whole businesses – are run. One example we explore is how tokenisation could transform the ownership and access to industrial assets, such as machines, planes or trains.
In our Corporate View, iconic shoemaker Dr. Martens’ Group Treasurer Mark Hirst describes how he is building out the treasury function in support of the newly listed company’s pursuit of revenue and profit. This includes the need for a hedging programme to manage the growing number of currencies used to transact as the company’s direct-to-consumer sales grow – another key trend shaping every treasury landscape.
Finally, now is your moment to shine! The acclaimed Adam Smith Awards, now in its 15th year, opens for nominations on 31st January. Everything you need, including our short nomination form, is available online at treasurytoday.com. Nomination will close at midnight on 11th April and we look forward to receiving your nominations. Good luck!