Zhai Yun (Nat) Tan

There were a million and one headlines about the #cop29 approval of Article 6.4 rules, but a few questions remained: How does this global carbon mechanism differ from all the bilateral pacts that countries like Singapore have been developing? When can we expect the first credits to come online via this global mechanism? And what does this all mean for Singapore? To break down the so what and why it matters of this announcement, Shabana Begum D/O Nazeer and I speak to many experts, only whom some of them are named in this piece! Thank you Rueban Manokara, Melissa Low and many more : https://lnkd.in/gCBTQ2Z8 #climatechange #carbonmarkets #article6

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Just two weeks ago, I wrote about Malaysia's upcoming water crisis after attending the United Nations Global Compact's (UNGC) Future Leaders of Water Sustainability 2024 conference last month. And starting today, the Klang Valley region is already undergoing a 3-day water cut till June 7. Seems very much like a coincidence but conserving water is ever so important as water plays a vital role in our survival. But how many of us are mindful of our water footprint? Read the story to better understand why water is an issue of natural security for Malaysia. #UNGC #UnitedNations #SDGs #Malaysia #water #sustainability #FLOWS2024

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President Ranil Wickremesinghe believes that he should be an independent candidate for the President Poll 2024 and bring most parties together on a national platform in order to strengthen the country’s economy, said United National Party (UNP) Deputy Leader and Senior Advisor to the President on Climate Change Ruwan Wijewardene, in an interview with The Sunday Morning. “He believes that this will be the best option, where he comes in as an independent candidate and all the other parties or members of other parties can support his endeavours to strengthen the country’s economy,” he pointed out. Despite the decimation of the UNP at the last General Election and ongoing attempts to reform the party, Wijewardene opined that the President’s move to contest independently, setting aside the ‘elephant’ symbol, would not hamper the UNP’s revival process. “With this election, there will be people who have left our party and joined the Samagi Jana Balawegaya (SJB) who will come back to the party and strengthen the ‘Grand Old Party’ once again,” he asserted. As for the party’s alliances with its longstanding adversaries, Wijewardene conceded that there was some apprehension from the party grassroots and activists about the President and the Sri Lanka Podujana Peramuna (SLPP or ‘Pohottuwa’) being on one platform, but that everyone was on board now, “because they know that President Wickremesinghe’s platform right now is to bring everyone together to try and sort out the economic issue”. Wijewardene also emphasised the importance of setting aside party politics at this juncture, given the key national issues that needed to be addressed: “The cost of living is still very high. Our health sector needs to be strengthened; our education system needs to be reformed; our Judiciary system needs to be looked into and reformed. For all those reforms to be done, there has to be a strong economy. Due to that, I think that we all feel that this is the best time to leave our political parties aside and come onto a national platform so we can sort out all these issues.” Read here https://lnkd.in/grT6ZtyY

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The 10th edition of Ecosperity Week, Temasek’s annual sustainability-focused conference, brought together leaders from politics, philanthropy, conservation, mining, finance and the voluntary carbon markets, among others. Some highlights in this wrap by Nicole Lim and I for The Edge Singapore this week: ➤ Minister for Sustainability and the Environment Grace Fu kicked off the week by announcing the Singapore Emissions Factors Registry to aid businesses in sustainability reporting. ➤ Fullerton Fund Management and the United Nations Development Programme (UNDP) launched a framework to guide private equity climate investing in Asia. ➤ Monetary Authority of Singapore (MAS) will set aside $35 million to support upskilling, reskilling and the development of specialists in sustainable finance over the next three years. ➤ Getting the region to switch to green power is a costly and risky business, said DBS Bank CEO Piyush Gupta. “It’s a choice between economic development for the people and sustainability. If anybody said that there is no compromise or trade-offs, they’re kidding.” ➤ The chairman of mining giant Rio Tinto spoke about the need to build trust and persuade the public of the role it plays in decarbonisation. “The challenge for the industry is to be seen as part of the solution and not part of the problem.” ➤ Emily McKenzie, technical director at the Taskforce on Nature-related Financial Disclosures (TNFD), said there is “increasing recognition” that nature risks are “no longer a corporate social responsibility issue”. As of January, 42% of 320 early adopters are in Asia. ➤ South Pole partnered its minority investor GenZero to launch the Asia Centre of Carbon Excellence (ACCE), with support from the Singapore Economic Development Board (EDB). ➤ Margaret Kim, CEO of Gold Standard defended the carbon market player, saying the “entire ecosystem that has to change, from supply to demand”. “We love debating over things. We love clickbait titles. But are we doing this to put positive pressure on actors to act with high integrity? Or are we doing it because it’s just human nature to debate?” ➤ Mark Kenber, executive director at VCMI, acknowledged that “there’s been a lot of turmoil in the carbon markets over the last year because of scrutiny of projects”. “We welcome that, if that makes us all perform better.” ➤ Temasek Trust, DBS Foundation and UBS Optimus Foundation announced their strategic partnership to build Co-Axis, a “digital catalytic capital marketplace” featuring over 70 curated impact opportunities. ➤ Former UK Prime Minister Tony Blair quipped about his decade at Downing Street, which ended in 2007. “Ten years is quite a long time to be in government. I always say to people that you start at your most popular and least capable, and then you end at your most capable and your least popular.” Read the full story in the latest issue of The Edge Singapore.

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The San are among the highly marginalised enthic groups in the country. The community could be among least developed due to their historic background of being nomads and hunter gatherers. But something good is taking place as Government has taken deliberate efforts to mainstream them in the development processes. In this article, we show how the affirmative action of recruiting them as prison officers is transformational and inspirational to them. Government affirmative action transforms San community beneficiaries https://lnkd.in/dpfGaM3F

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Sabah & Sarawak Push for greater autonomy? Watch the video here where we interviewed ISA’s alumni (as he put it) Dr Jeffry Kitingan, Deputy Chief Minister of Sabah & Sarawak’s Premier Dr Abang Johari Openg. #Sarawak #Sabah #MalaysiaAgreement1963 #MA63 #Malaysia #Autonomy

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Can your T-shirt fight climate change? In my latest cover cluster feature for The Straits Times Life section, I speak to Patrick Teyssonneyre who has found a way to make clothing become carbon sinks. According to the Brazil-born entrepreneur, it’s now possible to be a walking carbon capture agent when you don a T-shirt that has been specially treated with COzTerra. Together with his co-founders at Xinterra, a Singapore-based start-up, Mr Teyssonneyre has perfected a liquid formulation that can be applied at the finishing stage of textile manufacturing, before the product becomes a garment. The CO2 captured by the textiles is converted into sodium bicarbonate (baking soda, a harmless mineral) during a regular washing cycle at home with conventional detergent. COzTerra is being offered to textile mills and fashion brands. By starting with textiles, the company hopes to empower people to become a “CO2 capture agent”. What’s next after textiles? Mr Teyssonnere is looking to expand its reach to home furnishings and residential paints, which could enable Housing Board flats to sequester carbon dioxide on a massive scale. Read more only in The Straits Times, which celebrates its 180th anniversary next year. https://lnkd.in/gcr45sx2

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I thought this was a really interesting read. Here's the short abstract: Inclusive development (e.g. investing in local infrastructure, education, etc.) helped countries like Singapore thrive, whereas other nations had their resources drained, and floundered. The solutions that Acemoglu, Johnson and Robinson posit 👉🏼 We must embrace diversity of thought  👉🏼 Singapore needs "loving critics" to continue progressing as a society 👉🏼 Our next stage of growth will require more indigenous innovation and original thinking --- It struck me that our government's obsession with nurturing our human capital as our best asset has paid off well... and is considered an "inclusive" strategy as it pushes our people to participate in our economy's growth. Likewise, doesn't this apply to both the workplace and at home? We must be obsessed with our people, in nurturing them; and to move forward and progress, we need to embrace diversity of thought and encourage each other to be loving critics of our direction, actions and work.

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There's been no shortage of favourable climate/environment-related court rulings in Asia this month - from South Korea's ruling against the government for insufficient climate action, to a Malaysian high court ruling against the federal and state governments and private developers for a hydropower project on Indigenous land. But the fact remains that you only go to court when damage has already been done and people have been wronged. It's an expensive and time-consuming endeavour. At a recent climate litigation masterclass hosted by Climate Governance Malaysia and ClientEarth, Jia Yaw Kiu offered this sobering reminder: "Climate litigation is not a panacea for solving climate change. We shouldn't entertain any fantasies of...young people in Asia bringing cases to court and an appeal going all the way up to Federal Court and then that would change everything; that we would have solved climate change." [It sets great precedent but it's also hard to prescribe remedies that would negate the harm done.] Environmental human rights extends far beyond taking the 'bad guys' to court. In a recent op-ed for Eco-Business (my first, actually!), I dared to imagine what that could look like in the context of Malaysia's carbon markets, with Orang Asal and local communities at the forefront of conversations and decision making instead of being box-ticked as an #FPIC requirement. Climate justice can but doesn't have to be litigious. Thank you: - Wai Mun Ng for the painstaking editing and revisions, - Khairun Nisa Zabidi for feedback on the my initial draft, - Edmund Bon Tai Soon, Umavathni V. and Ili Nadiah Dzulfakar for your work on the NBABHR report and making time to talk to me about it (the report is a treasure trove of good guidance on business and human rights in Malaysia and is linked in the article), - the Apa Kata Wanita Orang Asli filmmakers, who never fail to awe me with their boldness and joy, - and #BursaCarbonExchange, of course, without which I would have no local carbon market to write about. The more I read about this, the less I realise I know – I haven't even started on concepts like #reindigenisation and how Australia's Aboriginal Peoples participate in their carbon market. But in the meantime, please read and share your thoughts and/or criticisms with me! If you're looking to get access to this piece for free, drop me a comment or message. #carbonmarkets #indigenouspeoples #orangasli #orangasal Bursa Malaysia

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Battling "Complacent Optimism" and "Fatalistic Pessimism" in Addressing the Climate Crisis Singapore President Tharman Shanmugaratnam on Day One of the 10th edition of Temasek Ecosperity discussed how we must avoid both "complacent optimism" nor "fatalistic pessimism" in addressing the climate crisis. Recognizing that significant progress has been made since the Paris Agreement in 2015, we now must shift from setting distant goals to transition paths. While there is a global geopolitical recession, SE Asia has tailwinds in addressing climate risks and opportunities. Great discussions on how government and the private sector must work together to remodel the market economy with Minister Grace Fu, lunch with Council for Board Diversity Singapore with deborah ho Mindy Lubber Boon-Chye Loh and with ESG and sustainability leaders Jessica Cheam Jaclyn Seow Maya Hari Priya Gopalan

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A major case of 'durian politics' going on here. It reminds us that political engagement is not a one-size-fits-all endeavor. It requires patience, understanding and a willingness to confront discomfort. Let us remember that even the most contentious issues can yield fruitful dialogue when approached with an open mind and a willingness to engage. Instead of victimizing the farmers under the guise of being unlicensed durian growers (so what? why not allow them to become legal farmers?) and putting them under unfair contract terms with a high powered consortium, maybe the state and other parties can start looking at a more win-win situation. After all, these Musang King durians are the pride of Malaysia. Let’s do away with the odor of discontent. https://lnkd.in/gk9s-Z_Q #fightforfarmers #durianpolitics

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We decided to do a story on renewable energy certificates (RECs) because we are hearing much exuberance over the potential for Malaysia to become a major RECs supplier, and for the incoming data centres -- and MNCs in Singapore -- to be a huge source of demand for RECs. At the same time, there are questions about the actual impact of RECs, and what role does it play in the whole transition. We found out that what kind of RECs you produce matters: Large hydro RECs fetch lower prices and may have less acceptance among foreign buyers, for instance; bundled RECs are preferred by some corporates such as Google; and cross-border transaction of RECs is still one full of hurdles to be overcome. We've also heard people compare RECs to carbon credits, looking at the additionality and environmental/social co-benefits of RECs, which would place any RECs generated at the expense of local communities or deforestation at a bad place - but this doesn't seem to be in the mainstream discussions at the moment. Thank you to all our interviewees for sharing your thoughts and expertise with us!

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Vespid is positioned for an exciting journey in enhancing financial literacy in Malaysia and beyond. They are a Malaysian start-up, run by a young, creative and energetic team Transitioning from a B2C to a B2B model, it will open-up valuable opportunities, especially as you aim to educate individuals about managing their finances and understanding the complexities of financial products. By focusing on improving awareness and understanding, Vespid will play a vital role in empowering individuals and fostering a more robust economic environment. Complexity of financial products will grow overtime and addressing the risks associated with these products and increasing transparency is crucial, especially in a rapidly digitizing financial landscape where scams can undermine investor confidence. As FIs implement tighter controls to mitigate risks, Vespid can play a crucial role in complementing these efforts by enhancing customer awareness. By bridging the gap between complex financial products and customer understanding, Vespid can significantly contribute to a safer and more informed financial ecosystem for both investors and institutions. This approach will lead to greater confidence and stability in the market. Empowering youth with financial literacy as they enter the workforce sets them up for long-term success. By providing them with the knowledge and skills to navigate financial products, Vespid will help them make informed decisions about budgeting, saving, investing, and managing debt. It’s a great way to foster a more financially literate generation! Vespid Rubaneswaran S T

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this is a testament to #Malaysiakini resilience and commitment to independent journalism, even in the face of an "extinction-level event" for traditional news media. What are your thoughts on the challenges they're facing with the rise of social media and AI-generated content? #thoughts #kitajagakita

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Our first ever live broadcast. I think it was a success ☺️🙏 All about #Budget2025. If you missed the earlier tabling in Parliament, be sure to catch our discussion here where we go deeper into Malaysia's biggest ever budget at over RM420billion. Only on #beyondtheheadlines #nst #podcast

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Is it too vague? What about the Rakyat? The effects of climate change has undoubtedly been accelerating and will become even more severe if nothing is done to address it. The necessary checks and balances, environmental rights and climate adaptation will be crucial in combating climate change for Malaysia and its citizens. Part of Malaysia’s climate action plan is to introduce a Climate Change Act but according to stakeholders, the draft bill (now closed for consultation) lacks a focus on climate change adaptation and risk impact assessments to protect vulnerable communities.

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First published last week - my interview with Datuk Mohammad Faiz Azmi, chairman of the Securities Commission Malaysia (SC), right after he launched the National Sustainability Reporting Framework. This will be the first time sustainability reporting is required of large non-listed companies (around 260 of them are impacted). All PLCs have to follow ISSB now (instead of the originally intended TCFD, but this is not a surprise to many). No mandatory reporting required of SMEs, but they will be a to asked to provide information, especially on emissions, to their buyers, as Scope 3 emissions is required by ISSB's standards. The most common complaint from PLCs about preparing sustainability reports is the lack of talent and cost of hiring consultants - can this be addressed?

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