To help prepare emerging accountants and professionals for the sustainability challenges of the future, the IPA collaborates with Monash University, the United Nations Economic and Social Commission for Asia and the Pacific and Incept Labs every year to deliver the Sustainable Futures Challenge (SFC).
The intensive 10-day initiative is equipping the next generation of accountants with the skills to tackle complex global sustainability issues. The challenge aims to draw on students’ perspectives to drive innovation, and each event focuses on different challenges in different parts of the world.
This year’s event, held last month in Fiji, concentrated on the unique challenges faced in the Pacific region.
In Fiji, students came together to explore innovative solutions to pressing issues, such as digital connectivity and its impact on rural communities.
Building sustainable communities
The SFC takes a well-rounded approach to sustainability that goes beyond addressing climate change.
Philomena Leung, Director at Institute of Public Accountants
“Climate change is one thing, but sustainability means the sustainability of the community, the sustainability of infrastructure, and everything else – it’s all connected,” says Philomena Leung, Director at Institute of Public Accountants.
This holistic approach includes exploring how to enhance digital infrastructure in the Pacific region and increase opportunities for rural women to engage in climate change adaptation, bringing a more diverse suite of voices and perspectives to the challenges the region faces.
Participants showcased a range of innovative solutions to tackle the identified issues. “Some of the solutions [included] looking at identifying a software that could help bring a minimum level of connectivity to various parts of the rural community,” says Leung.
Given that Fiji and other parts of the Pacific region are hotspots for tourism, students also explored how tourism could fit into sustainable development plans for the region, and how government funding could help to make tourism practices more climate friendly. “There was also a seeding program [proposed] for the rural community to take part in climate change initiatives,” Leung says.
By focusing on engaging reforming infrastructure and engaging communities in sustainability efforts, these solutions aim to put the foundations in place for a sustainable future for the region in the long-term.
Fresh perspectives on sustainability
A distinctive feature of the Sustainable Futures initiative is its collaborative approach, involving direct interaction with the UN.
“The UN had been working with the government, but not necessarily directly with students or academics as such,” Leung noted. “So, this is actually the first time the UN has worked with university students to [increase] awareness of sustainability issues,” says Leung.
The event provided the UN with fresh perspectives from the next generation of problem solvers, while also allowing students to gain insight into the workings of global institutions and the sustainability challenges faced by a diverse range of communities.
Previous student proposals have even attracted interest from the UN for potential adoption. “The UN is very impressed…this is the third year we have run [the event], and they are really appreciative of what we are doing,” says Leung.
The sustainable future of accounting
With climate change concerns growing, no industry is immune from the necessity of sustainability considerations.
During the SFC, Leung says many accounting students were able to better understand the role of the accounting profession in shaping a sustainable future.
“This exposure to sustainability challenges equips future accountants with skills that extend beyond traditional accounting practices, preparing them to contribute meaningfully to global sustainability efforts,” she says.
This aligns with IPA’s refreshed approach to advocacy for the profession, says Leung.
“We are embarking on a transformation exercise and telling accountants not just to do accounting,” she says. “[The profession] is far more dynamic, and accountants are actually [some of] the best people to help solve problems in terms of sustainability.”
The initiative’s success underscores the importance of experiential learning in shaping the future of accounting and sustainability.
Encouraging collaboration between students, educational institutions and global organisations to address pressing issues also empowers the next generation of leaders and problem solvers.
