Redefining traditional roles: How accountants are leading the sustainability shift

Josette Soh FCCA, Sustainability & Emerging Assurance Partner at Deloitte Singapore, explores how finance professionals are redefining their roles into strategy and sustainability.

In recent years, the accounting profession has undergone a significant transformation as businesses navigate the growing complexities of ESG expectations, sustainability regulations, and value-driven leadership. Finance professionals are now stepping up as strategic advisors, expanding their roles beyond traditional functions.

Josette Soh FCCA, Sustainability & Emerging Assurance Partner at Deloitte Singapore, explored how accountants are taking on broader roles in strategy, sustainability, and social impact during "The Evolving Role of Accountants: From Finance to Strategy & Sustainability" podcast with ACCA Singapore, in partnership with Singapore Business Review.

The episode, hosted by Singapore Business Review Contributing Editor Simon Hyett, also delved into the growing importance of ESG in decision-making and how finance teams are helping to drive business transformation and long-term value creation.

The financial shift to sustainability

Soh believes that the accounting profession is undergoing a fundamental shift from traditional roles driven by a blend of expectations from both clients and professionals in the industry. She sees that accountants have always protected the integrity of financials, but with sustainability becoming integral, their role has now expanded.

“One of the key things in terms of shift in sustainability expectation and mindset is on the interconnectedness between sustainability-related information and business strategy decision making into what's going to be impacting financial reporting,” Soh said.

Southeast Asia is accelerating its ESG efforts due to its acute exposure to climate risks, which has made sustainability a strategic necessity. Whilst Europe remains ahead in regulatory maturity, Soh noted that Southeast Asia’s response is becoming increasingly proactive and innovation-focussed in the face of growing environmental challenges.

To play a meaningful role in shaping business strategy and driving social impact, finance professionals must bring more than technical expertise in order to adapt. Soh explains that those in the finance function are already well-positioned to contribute, given their strengths in data collection, analysis, and control. These skills are significantly vital as ESG reporting demands more structure and reliability.

The ACCA and BDO joint report reinforces this, stating that CFOs are now "the accountable face for the delivery of value in their organisations," with many already fulfilling what is being described as the chief value officer (CVO) role. Helen Brand, ACCA chief executive, noted, “We already know that CFOs are increasingly acting as strategic leaders and advisers in their organisations. The CFO role is one that has moved significantly from the traditional view, while retaining the core responsibilities. Now there’s a real opportunity for them to satisfy the value agenda and evolve the role for the next generation of CFOs.”

This evolution reflects a clear trend: value is no longer measured by financial metrics alone, but by long-term, sustainable outcomes. Managing sustainability data with the same rigour as financial data is therefore not just important; it is fundamental to generating and protecting this broader, integrated value.

But beyond technical skills, Soh stresses the importance of being open to change. As sustainability standards and expectations evolve rapidly, so must the professionals supporting them. The openness to relearning, she notes, is crucial for finance professionals, "I think the key mindset shift for me was to unlearn and learn all over again."

Soh emphasised that the mindset shift brought on by sustainability is shared across departments. “This is pretty much profession-agnostic,” she noted. Whilst finance professionals contribute their strengths in data management and controls, other departments like operations, HR, and legal are equally involved.

Empowering sustainable business foundations

Soh highlighted two key ways finance leaders can help shape businesses that are both strategic and sustainable. First, she emphasised the importance of capacity building, developing the team’s knowledge and readiness to understand and respond to sustainability impacts. Soh mentioned that the learning process helps finance professionals rethink their roles, saying, "that helps the general finance teams to rethink how they can contribute better to their roles, into the future, and the new business direction that we are expecting to see."

Second, she encouraged embedding sustainability into existing finance processes. For instance, during OPEX and CAPEX planning or the procurement process, teams should also consider environmental and social value through the “people, planet, profit” approach. This broader evaluation helps organisations make more balanced, future-ready decisions.

With sustainability becoming central to business strategy, finance teams are now taking more active roles in shaping long-term value. Soh shared real-world case studies illustrating how finance professionals are stepping up.

She described the emergence of new roles, such as Chief Financial Sustainability Officers. This role is where finance leads sustainability practice and initiatives, working closely with HR, operations, and other functions through cross-functional task forces and ESG committees at the executive level.

These collaborative structures have enabled organisations to integrate sustainability more deeply into business decisions. In such challenges in companies where top leadership is not yet fully aligned with sustainability goals, she recommended engaging boards and bringing in external consultants. She also highlighted an inspiring case of a company developing fibre-based alternatives to single-use plastics. This is an effort that aligns with both sustainability and cost efficiency.

As sustainability reshapes the finance profession, Soh encouraged finance professionals to stay curious, purpose-driven, and informed. Accountants are uniquely positioned to bridge the gap between financial performance and sustainability impact, leveraging their skills to drive meaningful change. By embracing evolving roles and staying connected to global developments, finance teams can become true bridge builders within their organisations.