ASEAN Night and the ASRAC Initiative Launch

Following intensive months of development, the ASEAN Sustainability Reporting Advocacy Collaborative (ASRAC) Official Statement was launched at ASEAN Night in Singapore, hosted by the Singapore Business Federation (SBF).

This initiative is chaired by Executive Director Jukhee Hong and jointly developed by ASEAN-BAC Malaysia, Association of Chartered Certified Accountants (ACCA), the Sustainable Finance Institute Asia (SFIA), and the Asia-Pacific Economic Cooperation Business Advisory Council (APEC-BAC) Malaysia. It is one of twelve business priorities in 2025. ASEAN BAC Singapore and The Institute of Singapore Chartered Accountants (ISCA) have also become the signatories of the statement. 

This statement calls for a unified path forward for sustainability reporting across ASEAN, with alignment to international standards as a key priority. It aims to reduce duplication and make reporting more practical for businesses of all sizes throughout the region.

Speaking at the launch, Jukhee Hong said “The ASRAC statement reflects the collective position of the private sector on how standard setters and regulators can help address the challenges faced in meeting the climate reporting requirements By confronting the 3Cs challenges in, compliance, cost, and capacity; and advocating for scalable, proportionate disclosure requirements, we are urging a shift from reporting complexity to clarity. This is ASEAN-led collaboration in action, pragmatic, inclusive, and aligned with the needs of all businesses, especially SMEs.”

The Statement also outlines practical implementation pathways, including engagement with finance ministries, capital market regulators, and international standard-setters; support for a unified platform for ESG data; and capacity-building through regional partners such as ACCA.Learn more about ASRAC and its recommendations here:
https://aseanbac.com.my/asean-sustainability-reporting-advocacy-collaborative-asrac/