THE Securities Commission Malaysia (SC) has initiated a collaboration with the Institute of Chartered Accountants in England and Wales (ICAEW) through a letter of intent (LoI) to work together in specific areas.
In a joint statement, SC said the collaboration focuses on capacity-building, including specialised training on climate-related financial disclosures, sustainability certifications, ICAEW training films, and other initiatives.
They said the collaboration is timely as Malaysia has assumed the ASEAN chairmanship for 2025 under the theme “Inclusivity and Sustainability" as global environmental, social and governance (ESG) standards evolve, equipping regulators with the right expertise is crucial.
ICAEW chief executive Alan Vallance said the partnership with SC reaffirms the organisation's 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,” he said.
He also noted that 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,” he said.
Echoing this sentiment, SC chairman Datuk Mohammad Faiz Azmi said with 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 stated.
According to SC, ICAEW conducted a workshop on Feb 14, 2025, at the ASEAN Capital Markets Forum Chairs Meeting in Penang.
It added that this workshop covered key sustainability disclosure requirements and regulatory best practices.
“The workshop includes IFRS S1 and S2 standards for climate and sustainability-related disclosures, Scope 3 emissions reporting and measurement challenges, and the impact of global climate regulations, such as the Carbon Border Adjustment Mechanism and the Corporate Sustainability Reporting Directive.
"It also addressed the role of regulators in sustainability policy and stakeholder engagement,” it added. – February 19, 2025
