MAINLAND CHINA - Media
OutReach - 11 October 2021 - Demand for environment, social and
governance (ESG) talent in Mainland China will boom in the next five years,
according to a survey by one of the world's largest professional accounting
bodies, CPA Australia. This finding comes as CPA Australia as joins 12 global
accounting bodies in committing to net zero greenhouse gas emissions.
CPA Australia surveyed over 400 accounting
and financial professionals across industries in the Greater China region,
including 139 respondents from Mainland China. Eighty-eight per cent of
surveyed Mainland Chinese accounting and financial professionals expect local
demand for ESG talent to increase in the next five years. Seventy-four per cent
of respondents expect accountants will play a key role in achieving carbon
emission reduction commitments in Mainland China.
Deborah Leung FCPA (Aust.),
Executive General Manager International of CPA Australia said, "The results
clearly reflect Mainland Chinese businesses' growing focus on ESG. This ties in
with the green and environmental protection commitments of the 14th Five-Year
Plan and we are glad to see more Mainland Chinese businesses have begun to
consider ESG performance as a key factor for business success.
"Accounting and financial professionals
play a critical role as enablers of environmental protections and promoting ESG
in the capital market. They are qualified to provide deep business insights
about sustainability risks and opportunities, support green finance, and help
improve disclosure mechanisms and policy frameworks.
"As an organisation with a global presence
and deep commitments in the Greater China market for over 65 years, we
acknowledge the impact of climate change and the urgency of taking actions to
achieve net-zero emissions and promoting ESG in the businesses."
The launch of the global accounting
profession commitment to net zero emissions is an initiative of The Prince of
Wales' Accounting for Sustainability (A4S) Project Accounting Bodies Network
(ABN), of which CPA Australia is a member. The ABN represents over 2.5 million
professional accountants and students in 179 countries.
As part of the commitment, CPA Australia
has pledged to achieve net zero greenhouse gas emissions within our
organisation and to provide sound advice to the business community for a just
transition to a net zero emissions economy.
"The accounting profession occupies a
privileged position in the global economy. As trusted advisers, we're privy to
deep business insights about sustainability risks and opportunities. This
knowledge creates an obligation to use our skills to protect our environmental
heritage. CPA Australia is a global organisation in a global profession and
we're proud to be part of the global response to climate change," Leung said.
According to the survey, there is a market
shortage of skills and understanding of ESG. Eighty-nine per cent of Mainland
Chinese respondents stated that they were looking forward to participating in
ESG-relevant training courses in the coming 12 months.
CPA Australia will provide training and
guidance to our members to support them in reducing greenhouse gas emissions in
their own organisations and businesses, as part of its net zero commitment.
"We suggest that accounting bodies,
research institutions, universities and businesses collaborate in nurturing ESG
experts across the finance and accounting sectors in Mainland China. "With more
requirements on ESG information disclosures being issued globally and more
investors considering ESG performance as an indicator to evaluate a company, and
as a key consideration in their investment strategy, we believe this is a huge
opportunity for accounting and financial professionals with solid ESG knowledge
and skillset in the future," Leung said.
Read the Net Zero Commitment here.