Accounting and finance professionals to work together on green goals

At an event co-hosted by the ACCA and AoF on October 14, marking over 20 years of collaboration between the two organisations, government ministries, and professional associations, participants reiterated their collective commitment to fostering sustainable development of the accounting profession.

Representatives from universities, the ACCA, and government agencies highlighted Vietnam's proactive efforts in Southeast Asia’s green transition. A key driver of this shift is the transformation of the green workforce, with a particular focus on enhancing the skills of finance and accounting professionals.

“Under Vietnam's Green Growth Strategy with a vision to 2050, the country is moving towards green growth by transitioning to a green economy. This shift will generate significant demand for green jobs and skills in the labour market. Although there are no specific targets for the finance and accounting sector yet, the profession will undoubtedly play a crucial role in meeting Vietnam’s green growth goals. Now is the time to update government guidelines and innovate training and retraining programmes in green skills for the accounting and finance workforce, which will contribute to building green organisations and promoting green growth across the economy,” said Nguyen Dao Tung, president of the AoF.

The event featured a panel discussion titled “Collaborating to develop green accounting and finance professionals for sustainable development,” where representatives from the ACCA, the AoF, and government agencies shared insights and strategies for shaping a green workforce in the finance and accounting sectors.

During the discussion, Pulkit Abrol, director of ACCA Asia-Pacific, posed a thought-provoking question to the students in attendance: "Do you agree that all jobs are green jobs?" Only five of the 700 attendees raised their hands, highlighting the challenge ahead. According to the ACCA, in the coming decade, all jobs will need to incorporate green skills."

“When the ACCA thinks about the future, we are working to ensure that every job, every business, and every professional accountant—whether in the public or private sector—has an appreciation and understanding of how to apply green skills,” said Abrol.

The ACCA recently launched a professional diploma in sustainability. This programme provides learners with four micro-credentials and culminates in a professional diploma, equipping them with the necessary expertise to apply sustainability principles in accounting.

“Learners will earn four certificates along the way and then receive the final professional diploma. The ACCA is also a founding member of the International Sustainability Standards Board (ISSB), so our approach to sustainability is comprehensive, spanning government collaboration, the energy sector, learning outcomes, and accreditation. Additionally, we have partnerships with the CFA Institute on climate finance and offer the CFA's certificate in environmental, social, and governance Investing. As ISSB’s roadshow partner, we are also actively involved in promoting the new sustainability standards, S1 and S2,” added Abrol.

Truong Anh Dung, director general of Vocational Education and Training at the Ministry of Labour, Invalids and Social Affairs (MoLISA), emphasised the importance of integrating green skills into vocational training following the government’s green growth strategy. Ministries such as the MoLISA, the Ministry of Education and Training, and the Ministry of Finance have all introduced action plans to support this initiative.

“When we talk about green growth, the green economy, green technology, and green jobs, green skills are indispensable. The MoLISA has developed a plan that identifies green skill requirements in training programmes. We are following UNESCO's standards for greening vocational education, which include criteria for greening the training environment, curricula, research, and institutional culture,” said Truong.

The ACCA Asia Pacific Dialogue 2024 held in Hanoi on May 28-29 aims to foster a platform for innovative thinking and strategic dialogue among key stakeholders in the accounting and finance sector, focusing on sustainable finance, digital transformation, and regulatory developments, reflecting the most pressing trends and challenges in the region.

Digitalisation, if not carefully managed, could cause significant damage to sustainable development, so the deployment of new technology must go hand in hand with sustainable development principles.

The meeting between the State Audit Office of Vietnam (SAV) and the Association of Chartered Certified Accountants (ACCA) on October 7 marks a pivotal step in strengthening their practical partnership, while offering an opportunity to explore expanding collaboration in the financial sector to support economic growth and national prosperity in Vietnam.