ASEAN Must Step Up in Global Sustainability Race

ASEAN Must Step Up in Global Sustainability Race

ASEAN needs to accelerate its efforts to build expertise, influence global policy, and align with sustainability standards, according to a new report urging the region to take a front-row seat in shaping the future of corporate accountability.

The Association of Chartered Certified Accountants (ACCA) has released a landmark report urging ASEAN to take a more active role in shaping sustainability reporting policies at both global and regional levels. Titled «Sustainability Reporting in ASEAN: An Overview of Current Developments», the report outlines how the bloc can leverage its growing economic influence to push for globally aligned, decision-useful sustainability disclosures.

Mapping the sustainability landscape across ASEAN’s ten member states, the study examines regulatory frameworks, reporting practices, and adoption challenges. It underscores ASEAN’s readiness to embrace International Sustainability Standards Board (ISSB) benchmarks while highlighting gaps in implementation and professional expertise needed for the transition.

Call for ASEAN's Seat at the Table

Sharath Martin, Senior Policy Consultant at ACCA and author of the report, noted ASEAN’s economic rise: «By 2030, ASEAN is projected to be the world’s fourth-largest economy, yet it remains vulnerable to climate, nature, and social risks.»

Martin pointed to Singapore’s leadership in ISSB adoption as a positive signal but stressed that ASEAN must «advocate for a seat at the table of global policymaking» to ensure its businesses and governments are represented in shaping sustainability standards.

Capacity Building and Professional Education Key

The report promotes a «building-blocks» approach, where ISSB standards form a core baseline, complemented by jurisdiction-specific rules. Crucially, it calls for robust capacity building to upskill finance and accounting professionals in sustainability reporting – a vital step to ensure businesses can meet emerging disclosure requirements.

Pulkit Abrol, Director of ACCA Asia Pacific, emphasized the urgency: «As Singapore moves to mandate ISSB-aligned disclosures, ASEAN must evolve how it accounts for sustainability. Professional accountants are critical to building trust and driving sustainable growth.»

Drive Regional Change

Developed in partnership with ASEAN-BAC Malaysia, the report proposes four key actions:

• Advocate transitional relief from European Sustainability Reporting Standards (ESRS).
• Create national ISSB implementation roadmaps.
• Build regional infrastructure for data sharing and disclosures.
• Strengthen education and capacity building for sustainability reporting.

These measures, ACCA argues, align with Singapore’s ambition to cement its position as a sustainability-ready business hub and bolster ASEAN’s collective voice in global sustainability discussions.

Legacy of Regional Engagement

With nearly 90 years of presence in ASEAN, ACCA continues to leverage its expertise to support sustainable economic growth. The release of this report reinforces its role in advancing globally harmonized standards that reflect regional priorities.

For ASEAN, the findings signal a pivotal opportunity: embrace global sustainability norms not merely as adopters, but as influential advocates shaping the future of corporate accountability.