Collaboration can build green-skilled accounting community

At an event co-hosted by the association (ACCA) and the Academy of Finance (AoF) on October 14 on sustainable development, the ACCA committed that it will work closely with Vietnamese universities to align their educational programmes with the evolving needs of private and public enterprises and to open access to more people, while enhancing the role of finance professionals in the context of global economic sustainability.

Panel discussion themed “Collaborating to develop green accounting and finance professionals for sustainable development." Photo: Ha Vy

“When thinking about the future, the next generation of professional accountants, the ACCA is trying to ensure that every job, every business, every member, every future member, whether in public sector or private sector, has an appreciation or an understanding of how to apply green skills,” said Pulkit Abrol, director of ACCA Asia-Pacific.

“Sustainability is a core capability in our education and training, preparing future accountants to guide organisations in environmental impact and considerations, managing risks and integrated reporting. At a strategic level, this incorporates new business models for transformation, circular economies, and the UN Sustainable Development Goal disclosures,” Abrol said.

The ACCA launched a new professional diploma in sustainability last month, hoping that the qualification not only addresses developments in sustainability reporting and assurance but also focuses on the internal organisational activities essential to achieve sustainability objectives.

“These are the kind of practical issues the ACCA will be focusing on today. And the ACCA will continue to deepen, and extend our collaborations to innovate and build Vietnam’s skilled finance profession of the future,” said Abrol.

“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, so our approach to sustainability is comprehensive, spanning government collaboration, the energy sector, learning outcomes, and accreditation,” he said.

With Vietnam’s green growth strategy, the country is moving faster towards green growth, creating a substantial demand for green jobs and skills in the labour market.

Nguyen Dao Tung, president of the AoF said that although Vietnam has not yet set specific targets for the accounting and finance sector, the profession will undoubtedly play a crucial role in achieving the nation’s green growth goals.

“Now is the time to complete government guidelines, innovate, and update the training and retraining of green skills for the accounting and finance workforce, contributing to building green organisations and promoting green growth for the economy,” Tung said at the event.

Sharing specific insights on human resource development and green skills to meet the sustainable development needs of both Vietnam and the world, Dang Van Huan, director of the Higher Education Quality Improvement Project, cited LinkedIn’s 2023 Global Green Skills Report, and noted that workers in green jobs or listing at least one green skill on their profiles have higher employment prospects. He highlighted the urgent need for students to acquire these essential skills.

“According to the International Labour Organization, around 100 million jobs could be created during the transition to sustainable energy and a circular economy. Green skills are key to making it easier for young people to find employment. In addition to the core knowledge taught at universities, students in accounting and auditing should focus on developing green skills, especially those related to data collection and analysis,” said Huan.

Nguyen Phuong Hang, training director at Vietsourcing Training Centre in Hanoi, recommended that accountants should firmly embed the ACCA’s action plan to account for a better and greener world.

“This starts with making sustainability a core focus, managing associated risks and opportunities. An inclusive culture is essential, fostering collaboration, co-creation, and knowledge sharing. Leveraging technology to automate processes and gain insights can significantly enhance efficiency. Ethical practices must guide the creation and use of sustainability information, ensuring transparency and trust. Finally, continuous learning is vital as sustainability issues evolve, helping professionals stay informed and adaptable to new developments,” said Hang.

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 to introduce 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.