By Pulkit Abrol, Regional Director, Asia Pacific, ACCA
ASEAN is on the brink of a turning point.
Amid growing geopolitical tensions, shifting supply chains, and intensifying climate challenges, our region – comprising over 670 million people and boasting the world’s third-largest labour force – cannot afford to merely follow global standards. We must take ownership and actively set them, or risk being shaped by decisions made elsewhere.
However, doing so will require bold leadership, deeper regional integration, and perhaps most critically, finance professionals equipped to transform complexity into opportunity.
The stakes are real.
According to the WorldRiskIndex 2024, three ASEAN countries rank among the world’s ten most vulnerable to climate disasters. Our economic aspirations to become the fourth largest global economy by 2030 will be shaped as much by how we mitigate risks as by how we mobilise capital, talent, and trust.
The Role of Finance Professionals is Being Redefined
Once viewed as scorekeepers, today’s finance professionals are value creators and strategic advisors. They must step out from behind the numbers and become visible architects of ASEAN’s economic future.
These professionals are helping businesses stay agile amid inflation, digital disruption, and regulatory convergence. In ASEAN, where 97% of businesses are SMEs, their role becomes even more essential – supporting these businesses in staying investment-ready, compliant, and competitive across borders.
ASEAN’s SMEs are no longer a vulnerability but a strategic advantage, provided finance professionals embrace their role as strategic enablers, not just supporters.
They are also crucial to the green transition. As expectations for ESG disclosures grow – fuelled by instruments like the EU’s Carbon Border Adjustment Mechanism and a shift toward mandatory reporting – finance professionals will be the ones translating sustainability ambitions into measurable, reportable action.
Sustainability disclosures alone are inadequate. Finance professionals must ensure ESG commitments translate into tangible economic and environmental impacts – or risk irrelevance in global markets.
At ACCA, We Observe This Transformation Firsthand
Our members and future members across ASEAN are increasingly engaged in climate risk analysis, sustainable finance, and technology adoption. They are the changemakers behind the scenes.
At ACCA, we see our role clearly in shaping the public trust and value that underpins the very essence of the profession.
Advancing ASEAN Through Collective Capability
This is the rationale behind ACCA’s establishment of a formal partnership with ASEAN-BAC Malaysia during Malaysia’s ASEAN Chairmanship in 2025. Through this collaboration, we are jointly developing the regional advocacy framework for sustainability reporting – the ASEAN Sustainability Reporting Advocacy Collaborative (ASRAC) – which aims to streamline and harmonise ESG disclosure practices across the bloc.
This effort is more than administrative – it’s foundational. A consistent reporting baseline, aligned with international standards such as those from the ISSB, will support capital flows, enhance investor confidence, and give ASEAN businesses a fairer shot in global markets.
Crucially, 85% of ASEAN’s GDP is already signalling alignment with these standards.
Creating frameworks is not enough. Our responsibility now is ensuring these frameworks genuinely change practices and improve global competitiveness.
The success of this initiative depends on capacity building. We must empower finance professionals – in multinationals, small firms, and public institutions – with the skills, tools, and trust needed to lead effectively.
That’s why our work also includes mutual recognition of qualifications, CPD programmes, financial literacy, and sustainable finance training.
A Seat at the Global Table
Despite our economic weight and ecological relevance, ASEAN remains under-represented in global standard-setting bodies like the ISSB, IFAC, World Bank, and IMF.
This must change.
The sustainability risks ASEAN faces do not stay confined to the region – they ripple through global supply chains, food systems, and investment flows. ASEAN’s voice is not just warranted; it is necessary.
Meaningful representation transcends tokenism. It’s about embedding Southeast Asia’s lived realities into the governance of global systems.
ACCA is advocating for this louder ASEAN voice in international forums and encouraging policymakers to champion it through concrete nominations and consistent engagement.
Without real ASEAN voices shaping global standards, the region will continually adapt rather than lead.
It’s not just about seats – it’s about influence.
Turning the Tide with Talent
There is no silver bullet for ASEAN’s challenges. But there is a recurring solution: our people.
They aren’t merely the solution – they’re our most underutilised asset. ASEAN’s future depends on how decisively we invest in its capacity and empowerment.
Finance professionals are not just shaping balance sheets; they are shaping futures. If equipped with the right training, support, and policy frameworks, they can help ASEAN shift from a region that absorbs shocks to one that leads transformation – in sustainability, digital innovation, and equitable growth.
ACCA has been in this region for 89 years.
We have witnessed its evolution, resilience, and potential. Now, as Malaysia chairs ASEAN in 2025, we have an unprecedented opportunity to collaborate: to invest in people, harmonise standards, and elevate ASEAN’s voice on the global stage.
Let us not waste this moment. Let us equip the profession that keeps the economy moving and ensure ASEAN doesn’t just weather the storm but helps steer the ship.
The window of opportunity is rapidly closing.
Waiting or hesitating now isn’t caution – it’s negligence.
Let’s choose to lead before circumstances force us to follow.
