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Government-Private Sector-Civil Society Unite with Global Experts to Accelerate Green Transition Propelling Thailand Toward Low-Carbon Society

Government-Private Sector-Civil Society Unite with Global Experts to Accelerate Green Transition Propelling Thailand Toward Low-Carbon Society

Malay Mail2 days ago
Driving Two Key Agendas to Strengthen Global Competitiveness
Leading international speakers sharing perspectives and approaches for transitioning to sustainability at the ESG Symposium 2025 at SCG Headquarters, Bang Sue, Thailand
BANGKOK, THAILAND - Media OutReach Newswire - 1 August 2025SCG organized theunder the conceptat SCG Headquarters, Bang Sue. The event drew over 300 participants comprising key stakeholders driving Green Transition from government, private sector, civil society, and world-class experts who gathered to brainstorm and advance crucial collaboration for transitioning Thailand and the ASEAN region toward a fair and sustainable low-carbon society.The symposium facilitated policy and practical exchanges on two fundamental agendas that serve as critical keys to the transition, working together to reach conclusions for driving the low-carbon society forward:aimed at elevating energy systems to align with Net Zero targets, andcreating opportunities for small and medium enterprises to genuinely access ESG mechanisms.The forum was honored by global leaders including, and researchers from MIT includingand, alongside, who presented approaches for adaptation, building resilience, and enhancing Thailand's long-term competitiveness.represents a collaborative platform where all sectors join forces to accelerate the creation of a sustainable regional future, connecting environmental objectives with economic opportunities and preparing ASEAN to address a rapidly changing world.Hashtag: #esgsymposium2025 #GreenBreakthroughAmidThePerfectStorm
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NST Leader: Agrofood sector set for major reforms under 13MP
NST Leader: Agrofood sector set for major reforms under 13MP

New Straits Times

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  • New Straits Times

NST Leader: Agrofood sector set for major reforms under 13MP

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King's historic state visit to Russia underscores deepening bilateral ties, says Ambassador
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Malaysia's accounting graduates unprepared for ESG demands, experts warn
Malaysia's accounting graduates unprepared for ESG demands, experts warn

Focus Malaysia

time5 hours ago

  • Focus Malaysia

Malaysia's accounting graduates unprepared for ESG demands, experts warn

Letter to Editor AS the global economy pivots toward sustainability, Environmental, Social, and Governance (ESG) considerations are no longer a footnote in business strategy — they are front and centre. Across financial institutions, conglomerates, and regulators, ESG now drives decision-making and reporting. At the heart of this transformation is the accounting profession. Accountants are expected to go beyond financial reporting to tackle sustainability disclosures, carbon audits, and governance reviews. As this shift intensifies, the demand for ESG-literate graduates grows. The question is: are Malaysian universities doing enough to prepare them? While ESG themes are increasingly mentioned in classrooms, their actual presence in accounting curricula remains limited. Often, sustainability is offered as a single elective or addressed briefly within broader subjects. Most accounting students graduate with strong knowledge of the Malaysian Financial Reporting Standards (MFRS), but little to no exposure to the Global Reporting Initiative (GRI), International Sustainability Standards Board (ISSB) guidelines, or climate risk reporting frameworks. This gap is stark considering regulatory developments. Bursa Malaysia now mandates detailed sustainability disclosures from listed companies. Employers are demanding ESG-aware accountants — yet fresh graduates often find themselves scrambling to learn these skills on the job. Recent findings reinforce this concern. According to the ACCA Global Talent Trends 2025 report, 71% of Malaysian respondents expressed interest in sustainability-focused careers — one of the highest rates globally. However, 63% also reported concerns about not having the right skills for the evolving workplace, especially in areas like ESG reporting, digital tools, and analytics. This suggests a clear disconnect between students' ambitions and the training they receive. Recognising the evolving demands of the profession, Malaysia's Ministry of Higher Education has introduced Halatuju 4, a strategic blueprint for accounting education. Among its stated goals is the incorporation of sustainability, ethics, and digital competencies into accounting programmes — aligning academic outcomes with the future needs of the profession. This policy marks an important step in acknowledging ESG as a core competency area for accountants. However, as with any broad educational reform, implementation takes time and varies across institutions. Some universities have begun integrating ESG-related content more comprehensively, while others are still in the early stages of adoption. The success of Halatuju 4 will ultimately depend on how effectively it translates from framework to classroom — ensuring that all graduates, regardless of university, are equipped for the ESG-driven future of accounting. One of the most pressing challenges is the lack of structured collaboration between universities and industry stakeholders. ESG-focused internships, live projects, and case studies are still rare in most public and private universities. This disconnect is especially concerning in ESG-intensive sectors such as palm oil, energy, and manufacturing — pillars of Malaysia's economy. These industries offer real-world sustainability challenges, yet students often graduate without having engaged with these contexts. Broader surveys support this gap. In a recent Economist Impact–EY study, 69% of Malaysian employers and 90% of employees agreed that acquiring new skills is essential for career progression. Yet 57% of respondents reported that they do not clearly understand which specific skills are most in demand — a problem that has implications for both graduates and curriculum designers. Modern ESG reporting relies heavily on technology. Carbon accounting tools, climate risk dashboards, and ESG analytics platforms are integral to corporate reporting. Yet, most accounting programmes do not include training on ESG data tools or sustainability analytics. The Malaysian Institute of Accountants (MIA) has recognised this issue. Its revised Competency Framework identifies ESG, climate change awareness, and sustainability literacy as essential future skillsets for accounting professionals — urging universities to embed these elements into their programmes. The private sector is already responding. In late 2024, KPMG and ACCA jointly launched a pioneering ESG learning programme aimed at **upskilling** accountants in ESG strategy, governance, and reporting. This move reflects wider trends among employers seeking finance professionals who are not only compliance-oriented but also ESG-literate and digitally equipped. In many classrooms, ESG is still framed as a compliance issue — a checklist of disclosures rather than a strategic business lever. This mindset limits graduates' ability to contribute meaningfully to ESG integration within corporate strategy, risk assessment, and long-term value creation. To meet future employer expectations, ESG must be taught not just as regulation, but as strategy — a lens through which financial performance, stakeholder engagement, and long-term resilience are assessed. Ethics has always underpinned accounting education. But ESG has added new complexities — from greenwashing to ethical sourcing to stakeholder manipulation. Unfortunately, these dilemmas are rarely tackled in current ethics modules, leaving future accountants underprepared for modern challenges in sustainability reporting. While professional bodies like MIA have begun issuing updated guidance, full integration into undergraduate teaching remains inconsistent. ESG is not a passing trend — it is now a defining factor in corporate performance and stakeholder trust. For Malaysia to remain competitive in a sustainability-driven global economy, its accounting graduates must be ready. Universities must embed ESG as a core pillar of accounting education — not as an elective afterthought. Interdisciplinary learning should bring together environmental science, social impact, and governance practices with financial expertise. At the same time, stronger industry-academic linkages are crucial. Internships, ESG case simulations, and partnerships with real companies can bridge the classroom and the boardroom. Digital **upskilling** is equally vital. Proficiency in ESG reporting software, data dashboards, and integrated reporting platforms must be a baseline — not a bonus. The foundations for reform are beginning to take shape. But unless they are implemented more quickly and consistently, Malaysian universities risk falling behind — and so will the graduates they produce. As ESG reshapes the future of business, the role of the accountant must evolve in tandem. The question is no longer whether universities should adapt, but whether they can do it fast enough. The future of the profession — and Malaysia's sustainability leadership — may depend on the answer. —Aug 3, 2025 Dr Zarina Zakaria is an Associate Professor at the Department of Accounting, Faculty of Business and Economics. The views expressed are solely of the author and do not necessarily reflect those of Focus Malaysia. Main image: Unplash

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