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Sustainability reporting is moving into finance teams, but the real challenge lies in bringing suppliers and SMEs along. (Photo: iStock)
Sustainability reporting is no longer a voluntary exercise in ASEAN. As regulations take hold, ESG data is being pulled into core business functions, reshaping financial reporting, supplier engagement and investment decisions.
The region is moving quickly toward alignment with International Sustainability Standards Board (ISSB) standards. Singapore, Malaysia, Thailand, the Philippines and Indonesia, which together account for 85% of ASEAN’s GDP, have all signaled intent to adopt or converge with the framework, said Sharath Martin, senior policy and insight consultant at ACCA.
Speaking at a March 27 Eco-Business webinar, experts said ISSB adoption is accelerating the shift beyond corporates, with Scope 3 requirements pushing companies to engage suppliers, including SMEs that are not yet directly regulated but are increasingly drawn into disclosure and decarbonization efforts.
