Turning Asia Pacific’s sustainability reporting lead into resilience

Detailed summary

Asia Pacific is leading the global adoption of sustainability reporting standards, and a new ACCA report, Asia Pacific builds a sustainable future, looks at how the region can…

Asia Pacific is leading the global adoption of sustainability reporting standards, and a new ACCA report, Asia Pacific builds a sustainable future, looks at how the region can turn that lead into resilience across its economy, environment and society. The report draws on desktop research, interviews and roundtable discussions with 42 finance and accountancy professionals and subject experts.

Economies in the region that have adopted or plan to adopt the ISSB Standards account for 47 per cent of global GDP, and more than 80 per cent of ASEAN economies by GDP are on the same path. Yet the report finds that where disclosure is mandatory, it is still largely viewed through a compliance lens. The region is both the world’s largest source of greenhouse gas emissions and the leading region for new clean energy generation, but transition funding remains inadequate, and 96 per cent of funds raised in Asia Pacific come from domestic sources, with little take-up from international investors.

The report’s recommendations ask business and finance leaders to make decarbonisation and nature risks a board priority, use sustainability information to create value rather than simply to comply, and pair AI adoption with stronger governance and upskilling. Policymakers are urged to prioritise decarbonisation for energy and economic resilience, mobilise Asian capital and public funding to de-risk projects, strengthen the region’s voice in global standard-setting, and promote interoperability through an Asean or Asia Pacific AI governance framework.

It's about who you reach. Get your news, events, jobs and thought leadership seen by those who matter to you.

Opening of the article, excerpted from Eco-Business. To read the rest, open the article on the publisher's site.