Page 70 - CMA Journal (May-June 2025)

Focus Section

Sustainability Deflections
in Asia and Pakistan (Future
Outlook)
• Regulatory compliance issues

• Lack of awareness and policy
inconsistencies
• Global dependencies and
technological inertia
• Scarcity of endowments and
political instability
• Bureaucratic hurdles and
economic volatility
• Social inequality and energy
crisis
Sustainable Leadership
• Climate change impacts and environmental
degradation Sustainable leadership is vital in a transitioning world. The
following are recognized as leading sustainability-focused
• Limited access to finance and infrastructure
corporations in their respective regions:
deficiencies
Natura & Co, Patagonia, Safaricom, Tata Group, and
• Skills gap, supply chain complexity, and balancing
Unilever
profit with sustainability
According to research by the Governance &
• Business size disparities, escalating costs, and weak
Accountability Institute, sustainability reporting saw a
governance
significant shift—rising from 20% in 2011 to 82% in
• Vertical industrial spreads limiting sustainability 2016—marking a substantial change in sustainability
adoption reporting practices among corporations.
Ethical Sourcing
Ethical sourcing plays a crucial role in achieving business
sustainability by meeting consumer demands and
building trust and reputation; promoting environmental
sustainability and supporting fair labor practices, and
mitigating supply chain risks and improving overall
business resilience.
Strategies for Achieving Sustainable Growth

Key strategies to promote business sustainability and
growth include planning for the future and focusing on
profitability, prioritizing customer acquisition and
retention, investing in team development, and building a
scalable and adaptable business model.
Global Sustainability Drives and Initiatives

• 195 countries signed the Paris Agreement (2015) to
limit global temperature rise below 2°C
About the Author: The author currently serves as the Deputy
• 33 space agencies and global organizations aligned Manager of Finance at Attock Refinery Limited (Attock Group). He is a
with the SCO Charter by the end of 2022 in Fellow Member of the Institute of Chartered Accountants of Pakistan
combating climate change and an Associate Member of the Pakistan Public Finance Accountants.
With experience spanning Chartered Practicing CA firms, NGOs, and
• Only 32 countries have 90% or more of their the packaging, textile, and banking sectors, he is now contributing to
transboundary waters covered under cross-border team development within the premium energy sector.
cooperation agreements (as of 2017 and 2020 data)

68 ICMA’s Chartered Management Accountant, May-June 2025