The Securities Commission Malaysia (SC) and Institute of Chartered Accountants in England and Wales (ICAEW) have initiated a collaboration through a Letter of Intent to collaborate in certain areas.
This collaboration focuses on capacity-building, with ICAEW providing specialised training on climate-related financial disclosures, the provision of a programme to obtain Sustainability Certifications, the use of ICAEW training films and other areas.
As part of this initiative, ICAEW conducted a workshop on 14 February 2025 at the ASEAN Capital Markets Forum (ACMF) Chairs Meeting in Penang.
This workshop covered key sustainability disclosure requirements and regulatory best practices, including:
- IFRS S1 and S2 standards for climate and sustainability-related disclosures
- Scope 3 emissions reporting and measurement challenges
- The impact of global climate regulations, such as the Carbon Border Adjustment Mechanism (CBAM) and the Corporate Sustainability Reporting Directive (CSRD)
- The role of regulators in sustainability policy and stakeholder engagement
This collaboration is timely as Malaysia has assumed the ASEAN Chairmanship for 2025, under the theme “Inclusivity and Sustainability.” With global ESG standards evolving, equipping regulators with the right expertise is crucial.
ICAEW Chief Executive Alan Vallance welcomed this milestone, stating, “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.”
“This collaboration will equip regulators with the tools and insights needed to align with global ESG standards while ensuring that regulation remains supportive, not punitive. By fostering capacity-building, knowledge-sharing, and sustainable finance innovation, we can work together to build an interconnected, inclusive, and resilient ASEAN capital market.”
Echoing this sentiment, SC Chairman Dato’ Mohammad Faiz Azmi, highlighted the need to upskill regulators:
“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,” he said.
As ICAEW continues to champion sustainability and professional excellence worldwide, this partnership exemplifies its role in empowering financial professionals, policymakers, and regulators with the tools needed to drive meaningful change. Find out more at https://www.icaew.com/technical/sustainability
