Kyle Flick’s Post

🌍 Singapore Spearheads the Charge Towards a Greener Southeast Asia! 🌍 We are excited to share insights from the "Southeast Asia’s Green Economy 2024 Report: Moving the needle," a collaborative effort by Bain & Company, GenZero, Standard Chartered, and Temasek. This pivotal report outlines a clear path for accelerating Southeast Asia's transition to a sustainable economy, emphasizing the critical role of regional cooperation and innovative economic strategies. Report Highlights: Investment Surge: Notable growth in green investments demonstrates a strong regional commitment to sustainable practices. Innovative Strategies & Policy Enhancements: Case studies and new finance mechanisms are reshaping economic landscapes to reduce carbon emissions. The report also stresses the importance of policy support and regional collaboration to scale these initiatives effectively. 🔍 Singapore's Strategic Role: Green Finance Leadership: As a burgeoning blended finance hub, Singapore plays a crucial role in reducing the cost of capital for energy-transition projects throughout Southeast Asia. Strategic Partnerships: Through the Green Plan 2030 and platforms like TRACTION and SGTraDex, Singapore is at the forefront of driving substantial environmental and economic progress. This report not only celebrates Singapore's commitment to sustainability but also serves as a vital roadmap for building a resilient and sustainable economic framework in the region. Let's unite in our efforts and continue to lead impactful climate actions. The journey detailed in this report is just the beginning of what promises to be an exciting and transformative path. #GreenEconomy #Sustainability #Singapore #ClimateAction #InnovationInFinance #RenewableEnergy #FOZL

Invited by Channel 8’s 狮城有约 to share my views on green jobs in a new series《我是绿领》(“I am a green-collared”) that investigates the job opportunities created in Singapore, Japan, Taiwan and South Korea as a result of the green economy. The first episode on Singapore was aired on Wednesday. Ministry of Sustainability and the Environment, Singapore estimated that the sustainability sector is expected to add 55,000 new and upgraded jobs in the next decade. I explained that the initial demand are coming from jobs related to sustainable reporting and assurance given that Singapore has mandated climate reporting for listed companies and large non-listed companies. This will require existing professionals in accounting, auditing and finance to pick up new skills and understand carbon-related measurements. But there are also opportunities in the greening of existing jobs. Through the Career Conversion Programme for Sustainability Professionals (CCP-S) that Singapore Business Federation manages, we have seen more than 460 individuals from about 160 companies being reskilled into sustainability related roles, such as in Green Procurement. Further ahead, there will also be new jobs being created because of our shift toward renewable energy through clean energy imports and cross-border electricity trading within ASEAN. If you understand Chinese, you can view the episode through this link https://lnkd.in/erjtP2mQ [狮城有约 | 我是绿领：新加坡的绿色人才] #SBF #SBF2024 #SGBusinesses #SustainabilityCentric #GreenEconomy #Sustainability #FutureOfWork #Singapore

EuroCham Singapore is organising an event on “Mitigating Risks and Exploiting Opportunities of Carbon Pricing: How Your Business Can Prepare for Low-Carbon Future", which will be held at ING APAC on 7 June (Wednesday) from 9:00 am - 10:30 am (SGT). Sign up now at https://buff.ly/3wQQdpp With the signing of the 2014 Paris Climate Agreement, we are experiencing a growing need for the structural changes of the global economy required to shift to a low-carbon economy. Regulation of carbon emissions through taxes, emissions trading schemes and fossil fuel extraction fees are expected to play a vital role in global efforts to address climate change. Central to these efforts to reduce carbon emissions is a market mechanism known as carbon pricing. It shifts the responsibility and cost of greenhouse gas (GHG) emissions back to emitters and signals them to either reduce emissions or pay for them. Carbon pricing aims to align economic decisions with climate cost, incentivises clean development and innovation and drives low-carbon economic growth. This event aims to support corporates in: - Understanding the fundamentals of carbon pricing - Learning about direct and indirect carbon pricing instruments (e.g. carbon tax, ETSs, allowances, carbon credits…) and solutions available to organisations based on the industry and geopolitical landscape - Attaining a basic understanding of the risks and opportunities of carbon pricing and how to future-proof your business with low-carbon strategies - Mr Federico Di Credico (ACT Group) - Mr Alexander Fiedler (BASF) #TeamEurope #EuroChamSG #Sustainability Nele Cornelis Izabela Gasoyan Shelly De Groote Christine Jeremiah Mai Josephine Tanya Sahni Nicole Tok Eva Vincetic

Singapore, the only developed country in Southeast Asia. Once one of the "Four Little Dragons" in Asia, it is the fourth largest international financial centre after New York in the United States, London in the United Kingdom, and Hong Kong, China. When the world focusses on carbon emission reduction and sustainable development, Singapore, known as the "Garden City", also announced the "Green Development Blueprint for 2030" in 2021. In terms of electric vehicles, urban greening, sustainable life and green economy, it has formulated clear development goals and specific measures to support Holding on the 2030 Agenda for Sustainable Development and the Paris Climate Agreement set by the United Nations, Singapore will finally achieve the long-term goal of net zero emissions. Unlike the energy transformation path of other countries around the world, Singapore has handed over a "green finance" answer sheet.👍👍👐👐 #qbsmscbloggers

Sustainability isn't just a trend; it's a necessity. And while large corporations are often at the forefront of these initiatives, they have a unique opportunity (and responsibility) to bring small and medium enterprises (SMEs) along on the journey. Big companies can offer resources, training, and mentorship to help SMEs navigate the complexities of sustainability transitions. This could involve sharing best practices, providing access to technology, or even financial assistance. Kudos to CDL for leading the way and demonstrating that sustainability is not just good for the planet, but also good for business.

As one of latest “trends” coming from China is that major Chinese companies are embrace Corporate Social Responsibility (CSR) or ESG more seriously, for example, Didi, an Chinese answer to Uber with impressive over 95% market share of ride-hailing in China alone. In recent years, major Chinese corporations have been accelerating their efforts to develop and integrate Corporate Social Responsibility (CSR) or ESG practices into their business models. From reducing carbon footprints to enhancing community engagement, these initiatives reflect a significant shift towards sustainability and ethical governance. I have been asked but why should this matter to us in the West? My opinions are based on conversations I had over the past several years and how these sentiments have developed. As China's economy continues to grow, their commitment to CSR enable them to be better aligned to global business standards, as well as potentially inspiring companies worldwide to elevate their own CSR efforts. Like it not, the reality is that Chinese companies play a crucial role in global supply chains, and their focus on sustainability can lead to more eco-friendly practices across industries, benefiting the planet on a larger scale. This trend we are seeing where the largest Chinese corporations are moving towards has no doubt a significant impact on global trade, and a positive one. We are constantly keep our eyes on what’s happening in China and southeast Asian to better advise our clients during challenging times. So if you have any questions and unsure who can have a conversation with, please feel free to get in touch. #CSR #ESG

Hong Kong is an overly mature market, which means many habits and repetitive actions that lead to low efficiency but predictable results. Take the habit of exchanging paper business cards during meetings, for example. In the past, this was considered a sign of professionalism, but today, could it be seen as a lack of innovation? Should we first consider whether the other party even wants this action, which is neither environmentally friendly nor aligned with ESG principles? However, the market's deep-rooted maturity and habits have become the biggest burden in Hong Kong's development. I believe that for Hong Kong to usher in its second growth curve, changes must be made, and we must work together toward this goal!

Hong Kong's #Transport & #Logistics Industry Embraces #ESG, But #SMEs Need More Support A recent survey conducted by The #Hang #Seng #University of Hong Kong (#HSUHK) and The Chartered Institute of Logistics and Transport in Hong Kong (#CILTHK) has shed light on the growing commitment to Environmental, Social, and Governance (#ESG) practices within Hong Kong's Transport & Logistics industry. The survey, which involved over 200 respondents, revealed that ESG has become a business imperative, with many companies recognizing its importance and taking steps to implement sustainable practices. While the larger companies have made significant strides in ESG adoption, the survey highlighted the challenges faced by Small and Medium-sized Enterprises (SMEs). These businesses often lack the resources and expertise to implement ESG practices effectively. To address this gap, the research recommends that the Hong Kong Government provide tailored support, including access to industry benchmarks, clear guidelines, financial assistance, and successful case studies. One of the key areas identified for potential improvement is land use for sustainable logistics. The survey noted the successful examples of converting green land for sustainable logistics parks in the UK. This approach can help reduce the industry's environmental footprint and create more efficient logistics operations. To further promote ESG adoption in the industry, the research recommends the following actions for the Hong Kong Government: #Increase publicity and education efforts: Raising awareness of existing ESG initiatives and their benefits can encourage more companies to adopt sustainable practices. #Provide tailored support for SMEs: Offering specific programs and resources to help SMEs implement ESG practices can level the playing field and ensure that all businesses have the opportunity to contribute to a more sustainable future. #Develop clear ESG guidelines: Providing industry-specific guidelines and reference cases can help companies understand their ESG obligations and identify opportunities for improvement. #Explore land use for sustainable logistics development: Conducting feasibility studies to assess the potential for converting green land for sustainable logistics parks can help reduce the industry's environmental impact and create more efficient operations. By taking these steps, the Hong Kong Government can play a crucial role in empowering businesses of all sizes to embrace sustainable practices and strengthen Hong Kong's position as a leading international logistics hub.

https://lnkd.in/eWgXHpGp Global Carbon Initiatives: Interest in #carbon markets is growing across the globe. Singapore has led the way in carbon regulation in South-East Asia and has been proactive in seeking opportunities for international collaboration. This briefing explores the different forms of carbon market – regulated, voluntary and hybrid and considers available opportunities. #carbonmarkets #sustainability #ESG

Breaking: CarbonCare InnoLab (CCIL), in collaboration with Greenpeace East Asia, just released a new study “Evaluation of Hong Kong's Green Finance Policies” that reveals 3 loopholes where Hong Kong trails behind its financial hub counterparts, Singapore and Tokyo. In particular, the lack of regulations on greenwashing is a major shortcoming that may worry investors, distort market signals, and undermine sustainable development goals upheld by the industry, posing a significant concern for policymakers and the public alike. These loopholes may hinder Hong Kong's ability to become Asia's leading green finance hub. 🔍Hong Kong’s 3 main green finance loopholes are: ❌No high-level strategic plan ❌No restrictions on direct financing for fossil fuels ❌No regulations targeting greenwashing The study calls for urgent government action to devise a strategic timeline and roadmap aligned with the Paris Agreement's goal of capping the global temperature rise at 1.5°C. Additionally, it highlights the need for stringent measures to prevent greenwashing, thus enhancing Hong Kong's integrity in the global green finance market. Achieving this will not only align Hong Kong with international standards but also ensure a resilient, sustainable future for its finance sector. Read the Press Release: https://lnkd.in/gibHbNu4 💼 Read the Full Report below: https://lnkd.in/gHcJZS8f #GreenFinance #SustainableDevelopment #HongKong #Greenwashing #ClimateAction #ESG