New ACCA report on sustainability reporting developments reveals the need for ASEAN to play a greater role in advocacy and policy influence at global and regional levels
ACCA (the Association of Chartered Certified Accountants) has today launched a new regional report titled Sustainability Reporting in ASEAN: An overview of current developments, offering insights and recommendations to guide the region’s transition to globally aligned, decision-useful sustainability disclosures.
The report maps the current sustainability reporting landscape across ASEAN’s ten member states, capturing each country’s regulatory context, reporting frameworks, and implementation challenges. It provides a clear-eyed view of the region’s readiness to adopt the International Sustainability Standards Board (ISSB) standards as a global baseline.
Sharath Martin, Senior Policy Consultant at ACCA and author of the report, said: “ASEAN is expected to the be the fourth largest economy by 2030. It already serves as a key global value chain partner. Yet, it is also a region that is likely to face significant interlinked risks in the future from climate, nature or social dimensions.
“Encouragingly, many of the economies in ASEAN have already announced plans or signalled their intent to align with ISSB standards. This reflects a positive commitment towards a common global baseline, while recognising the need for proportionality. ASEAN therefore deserves and should advocate for a seat at the table of global policymaking on sustainability reporting in order to reflect the needs of its businesses and governments.”
This report shows how using the building-blocks approach to implementation allows national regulators to adopt ISSB standards as a core baseline while adding jurisdiction-specific requirements as needed. It also highlights the critical need for capacity building to upskill finance and accountancy professionals on the requirements of sustainability reporting.
“This report comes at a pivotal moment for ASEAN. As the region accelerates towards becoming the world’s fourth-largest economy, the way we account for sustainability must evolve just as quickly. At ACCA, we see professional accountants as catalysts, not just for compliance, but for building trust, guiding decision-making, and driving sustainable growth. This report provides the technical foundation needed to support the region’s shift towards global ISSB alignment, while championing proportionality and local relevance. Through our partnership with ASEAN-BAC Malaysia and the launch of the ASRAC Statement, we are proud to help shape ASEAN’s voice in the global sustainability conversation.”, says Pulkit Abrol, Director, ACCA Asia Pacific.
Produced by ACCA through its knowledge partnership with ASEAN-BAC Malaysia, the report further recommends:
- Advocating to EU regulators for transitional relief from European Sustainability Reporting Standards (ESRS) until such time as only set of global sustainability reporting standards is formally recognised
- Developing national roadmaps for ISSB implementation
- Establishing regional infrastructure for data sharing and sustainability disclosures
- Strengthening professional education and capacity building for sustainability reporting
ACCA has been embedded in ASEAN for almost 90 years, with strong institutional presence in Malaysia, Singapore and across Southeast Asia. This report is the latest in its ongoing contribution to shaping a more sustainable, resilient regional economy.
Download the full report here.
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We are ACCA (the Association of Chartered Certified Accountants), a globally recognised professional accountancy body providing qualifications and advancing standards in accountancy worldwide.
Founded in 1904 to widen access to the accountancy profession, we’ve long championed inclusion and today proudly support a diverse community of over 252,500 members and 526,000 future members in 180 countries.
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