Expanded Role of Accountants in Sarawak’s Green Economy
Sarawak to Offer Free Education in Finance and Accounting
Sarawak premier Abang Johari Openg announced that finance and accounting studies will be among the core disciplines offered under the free tertiary education policy at all Sarawak-owned universities starting in 2026. The premier emphasized the importance of these fields in managing and auditing the financial aspects of the state’s expanding green economy, particularly in carbon trading and environmental sustainability.
“The Sarawak government is committed to developing its green economy, and accountants will play a vital role in ensuring transparency and proper valuation within this sector,” said Abang Johari Openg. “As long as you are eligible, you will receive free education to study finance and accounting because we need experts to audit our carbon, calculate carbon, and assess other intangible elements. These disciplines will adhere to international standards.”
The Evolution of Accounting
Speaking at the Association of Chartered Certified Accountants (ACCA) Malaysia stakeholders reception on Friday night, Abang Johari Openg highlighted the expanding responsibilities of accountants. He noted that the focus on environmental, social, and governance (ESG) frameworks has significantly changed the role of accountants. “It is no longer just about the bottom line, it is about embracing a new portfolio,” he said.
The Importance of ESG
Abang Johari Openg stressed the significance of ESG frameworks in today’s business landscape. He explained that accountants must now consider the environmental, social, and governance impact of an organization’s activities in addition to traditional financial reporting.
“The old paradigm of focusing solely on financial performance is no longer sufficient. As accountants, we must now consider the broader social and environmental implications of our work,” said Abang Johari Openg. “This is why the Sarawak government is committed to integrating ESG principles into all aspects of our green economy initiatives.”
Conclusion
In conclusion, Abang Johari Openg’s announcement of free education in finance and accounting for Sarawak students underscores the critical role that these professionals will play in managing the state’s green economy. As accountants adapt to the expanding responsibilities that come with the focus on ESG, they must also be aware of the new portfolio that includes sustainability.
FAQs
* What are the key disciplines offered under the free tertiary education policy at Sarawak-owned universities?
Finance and accounting studies will be among the core disciplines offered, starting in 2026.
* Why is finance and accounting education crucial for Sarawak’s green economy?
These fields are essential for managing and auditing the financial aspects of the state’s expanding green economy, particularly in carbon trading and environmental sustainability.
* What are the additional responsibilities of accountants in today’s business landscape?
Accountants must now consider the environmental, social, and governance impact of an organization’s activities in addition to traditional financial reporting.
* What is the focus of Sarawak’s green economy initiatives?
The focus is on environmental, social, and governance (ESG) frameworks to ensure that the state’s economy is sustainable and responsible.