Asia has become the most consequential region globally in terms of sustainable development, with companies becoming increasingly attuned to implementing ESG practices in their day-to-day operations.

From financial regulators to commercial partners, companies are feeling the pressure to enhance their operations and showcase their sustainability credentials. These include meaningful sustainability reporting aligned with international standards, such as those set by the ISSB (International Sustainability Standards Board), to track their progress towards net zero.

Additional areas involve green financing, where companies are tapping the capital markets or working with their partner banks indirectly to generate financing to support green or social programmes. 

When it comes to why companies are adopting ESG practices, the number one reason, according to survey data from Asset Benchmark Research (ABR), is to sustain their long-term value, ensuring that they remain appealing to stakeholders and mitigating risks from potential costly penalties and operational disruptions. Other motivations for sustainable practices include mitigating climate-related risks and complying with regulations.  

According to ABR survey data, the proportion of companies with a dedicated sustainability officer rose to 73% in 2024, from 67% in the previous year. This increase reflects a growing commitment to focused ESG leadership, ensuring sustainability is prioritized rather than delegated to other C-suite executives with competing responsibilities.

These are some of the key insights from companies that took part in our annual Corporate Sustainable Leadership Awards last year, which engaged a number of leading organizations in the Asia-Pacific region.

Interested to take part in this year’s Corporate Sustainable Leadership Awards? Please reach out to us at sustain@theasset.com.

For more information about this award programme please go here.