By Dr Dalilah Aziz and Dr Ann G.
As Malaysia accelerates toward a sustainable, high-income economy under the Thirteenth Malaysia Plan (Rancangan Malaysia Ke-13 or RMK13), the nation’s aspiration to build a greener future is rapidly reshaping the workforce. While much public attention is given to engineers, scientists, and renewable-energy experts, an equally profound transformation is occurring within the accounting profession. A sustainable economy needs sustainability-focused accountants.
The intersection between accounting and sustainability is becoming increasingly significant, particularly as the regulatory landscape evolves to prioritise Environmental, Social and Governance (ESG) considerations. With the introduction of the International Financial Reporting Standards (IFRS) Sustainability Disclosure Standards, specifically IFRS S1 and IFRS S2, demand for transparent sustainability disclosures is growing, driven by both regulatory and investor expectations.
In Malaysia, the National Sustainability Reporting Framework (NSRF) outlines a national plan to align with these global standards. Supporting this alignment, Bursa Malaysia now requires listed companies to prepare sustainability statements in accordance with IFRS S1 and S2. These developments highlight the urgent need for accountants who can bridge the divide between conventional accounting practice and sustainability principles.
Under RMK13, there is a pronounced national commitment to advancing sustainability initiatives. The plan outlines, among others, a National Carbon Market Policy, a carbon emissions trading scheme (ETS), a carbon tax targeted for 2026, and broad support for renewable energy aiming for a 35 per cent share in the power mix by 2030. It also includes frameworks for carbon capture, utilisation and storage (CCUS) and other institutional measures designed to embed sustainability into governance, investment, and energy systems.
Such ambitions, however, cannot be realised without professionals who can recognise, measure, report, and assure material sustainability information with rigour and integrity. Whether calculating Scope 3 emissions in complex supply chains, assessing climate-risk exposure for financial institutions, or assuring the integrity of ESG disclosures, accountants are becoming central to the architecture of a greener economy.
Gone are the days when accountants were seen merely as custodians of financial recording and reporting. Today, sustainability reporting demands that accountants provide and assure information on sustainability risks and opportunities and evaluate how these affect long-term business value. It is no longer enough to tally numbers or audit balance sheets; accountants must now interpret, integrate, and communicate the environmental and social dimensions of performance.
Thus, for aspiring accountants preparing to enter the profession, being future-ready requires more than mastering technical accounting knowledge and skills. It calls for a profound shift in professional identity, from compliance-driven specialists to stewards of sustainable value creation. The sustainable economy that Malaysia envisions under RMK13 demands accountants who are fluent not only in financial language but also in the language of carbon, biodiversity, and human capital. They must learn to think systemically, question assumptions, and connect financial outcomes to the planet’s finite resources.
In this new paradigm, the accountant’s role expands from counting value to creating it. Those entering the profession today will be expected to operate at the intersection of finance, sustainability, and technology, translating integrated data into strategic insights. The profession’s future therefore depends on cultivating graduates who are prepared, intellectually agile, and ethically anchored to advance Malaysia’s transition to a low-carbon economy.
Being future-ready, then, is not only about technical mastery. It is also about developing a professional identity grounded in sustainability, an identity that sees accounting as both an economic and moral practice, shaping not only corporate performance but also the well-being of society and the planet.
Dr Dalilah Aziz and Dr Ann G. are senior lecturers at the Faculty of Business and Economics, Universiti Malaya, and may be reached at dalilawati@um.edu.my