ESG Reporting at a Turning Point
Sustainability reporting in ASEAN is entering a critical phase. Global frameworks such as the International Sustainability Standards Board (ISSB) and Global Reporting Initiative (GRI) are setting the bar, yet many businesses in the region still struggle to meet expectations. Weak or inconsistent disclosures risk being dismissed as greenwashing, which can undermine investor confidence.
Why Ethics Must Lead Compliance
According to Ellie Wild, ICAEW member and Sustainability Manager at Forvis Mazars, compliance alone is not enough. “Balanced reporting is at the crux of building trust,” she explained. Companies must disclose both opportunities and challenges transparently. Moreover, ESG data should carry the same rigour as financial information, with assurance processes that strengthen accountability.
ASEAN’s Diverse ESG Landscape
While ASEAN countries are moving toward global alignment, their approaches differ. Malaysia has taken the lead by adopting ISSB standards and launching a phased National Sustainability Reporting Framework. This move positions Malaysia as a regional frontrunner and the host of the ICAEW ASEAN Sustainability Summit 2025, themed ASEAN RISING: The Net Zero Playbook.
The summit, aligned with Malaysia’s ASEAN 2025 Chairmanship focus on “Inclusivity and Sustainability”, will showcase ethical governance, transparent reporting, and climate resilience strategies.
From Frameworks to Practical Action
Businesses across ASEAN often face overlapping regulations, capacity gaps, and resource challenges. To ease the burden, initiatives such as the ASEAN Simplified ESG Disclosure Guide (ASEDG) streamline ISSB, GRI, and local frameworks into 38 practical disclosures. In addition, new tools like Malaysia’s greenhouse gas emissions calculator help companies measure Scope 1 and 2 emissions more efficiently.
ICAEW’s Role in Ethical ESG
ICAEW supports professionals with training, governance audits, and global best practices to embed ethics into sustainability disclosures. Furthermore, the upcoming summit in Kuala Lumpur and online on 4–5 November 2025 will accelerate regional collaboration, offering peer learning and scalable tools to help companies improve reporting.
As ASEAN edges closer to global standards, ICAEW argues that ethical leadership and transparency remain the true drivers of meaningful ESG progress.
