The ICAEW and the Securities Commission Malaysia (SC) have embarked on a strategic collaboration.
This partnership is aimed at enhancing expertise in sustainability disclosures within the capital markets.
The core objective of this collaboration is to bolster capacity building in climate-related financial disclosures, greenhouse gas emissions reporting, and sustainable finance frameworks. As a part of this initiative, ICAEW will deliver specialised training to the SC, starting with a high-impact workshop at the ASEAN Capital Markets Forum (ACMF) Chairs Meeting scheduled for 14 February 2025 in Penang, Malaysia.
ICAEW’s role in this partnership includes conducting a series of workshops that cover essential topics such as IFRS S1 and S2 standards for climate and sustainability-related disclosures, challenges in measuring Scope 3 emissions, and the implications of global climate regulations like the Carbon Border Adjustment Mechanism (CBAM) and the Corporate Sustainability Reporting Directive (CSRD). These workshops are designed to prepare regulators for effective oversight and engagement with stakeholders on sustainability issues.
This initiative gains additional significance as Malaysia takes on the ASEAN Chairmanship in 2025, under the theme “Inclusivity and Sustainability.” With evolving global ESG standards, it’s vital for regulators to be well-equipped with the necessary knowledge and skills.
ICAEW Chief Executive Alan Vallance commented on the collaboration, saying, “Trust, ethics, and sustainability must be at the core of capital markets. Sustainability is not just about compliance—it is a business imperative that drives resilience, innovation, and long-term success. Through this collaboration with the Securities Commission Malaysia, ICAEW reaffirms its commitment to strengthening regulatory expertise in sustainability across ASEAN.”
Echoing Vallance’s sentiments, SC Chairman Dato’ Mohammad Faiz Azmi emphasized the strategic timing of the partnership: “Malaysia’s ASEAN Chairmanship in 2025 presents an opportunity to drive sustainability and financial resilience. Our collaboration with ICAEW ensures we stay ahead of global standards while equipping regulators to support market participants. Together, we can strengthen ASEAN’s capital markets and investor confidence.”
As ICAEW continues its global mission to champion sustainability and professional excellence, this partnership stands out as a pivotal effort to empower financial professionals, policymakers, and regulators in shaping a sustainable and resilient ASEAN capital market.
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