Accountants: The missing link in turning sustainability ambition into action

Accountants have the expertise to help organisations meet ESG expectations whilst building long-term business value.

Sustainability has become a defining market of organisational resilience, credibility, and long-term success. Yet, whilst many companies set ambitious ESG goals, only few know how to properly translate them into measurable progress.

In an interview with Singapore Business Review, Sharon Machado, Head of Sustainable Business at ACCA, pointed out that this is where an often-underestimated group becomes essential: accountants.

Why is sustainability now a business imperative?

Expectations from investors, regulators, customers, and employees have changed dramatically in recent years. Businesses are now judged not only on financial results but also on their environmental impact, social responsibility, and governance standards. This change has turned sustainability reporting, which was once optional, into a core indicator of trust and risk management.

Machado underscored that accountants are uniquely positioned to guide organisations through the complexity of sustainability and, more importantly, amidst the growing risks of inaction. “This combination of technical expertise and ethical responsibility allows them to act as trusted advisers during times of regulatory change,” she said.

Despite the urgency, many companies stumble due to three major challenges: capability, consistency, and connectivity.

Most of them struggle with insufficient skills or systems to produce reliable sustainability data and also find it hard to navigate fragmented global reporting frameworks. Most sustainability efforts are also disconnected from finance and strategic decision-making. These collectively lead to a “confidence gap.”

“Organisations know sustainability matters but are unsure how to embed it effectively,” Machado added.

How can accountants close the gap?

Accountants bring the technical, analytical, and ethical rigour needed to turn sustainability from a concept into a strategic and measurable reality. However, Machado also highlighted four areas where leadership focus is essential: materiality, integration, data quality, and governance and accountability.

Leaders have to be able to identify the issues that matter most to their business model and stakeholders; embed sustainability risks and opportunities into forecasting, budgeting, and enterprise-wide decision-making; invest in data quality through systems that produce accurate, comparable, and assured information; and ensure leaders take clear ownership of sustainability performance.

“These steps enable sustainability to become a driver of efficiency, innovation and long-term value rather than a compliance exercise,” Machado said.

How is the accounting profession preparing for the future?

Accountants’ blend of regulatory expertise and ethical grounding makes them trusted advisers during periods of change. But even with this level of competency, accountants strive for more.

With this, Machado noted that accountants have to keep on expanding their capabilities across ESG standards and global reporting frameworks. This includes improving one’s skills in data analytics and technology for complex multi-source sustainability data, as well as systems thinking and integrated reporting. Accountants will also benefit from developing stronger communication and storytelling to explain organisational value clearly.

“These sit alongside the profession’s foundational strengths in ethics, critical thinking, and professional judgement — all essential for credible sustainability leadership,” she added. 

Starting the sustainability journey with the right finance team

For organisations early in their sustainability journey, accountants can help build strong foundations by identifying material sustainability issues, mapping regulatory requirements, designing data systems and controls, aligning reporting with global standards, and integrating sustainability into financial and operational plans.

These fundamentals, when set up from day one, prevent expensive retrofits for companies and create a clear pathway to scalable sustainability performance. 

For any business asking, “How do we become more sustainable and prove it?”, turn to your accountants. Visit https://www.accaglobal.com/gb/en/about-us.html for more information.