We are proud to partner with Schneider Electric and the Institute of Singapore Chartered Accountants (ISCA) to launch the report “Counting to 3: Navigating Singapore’s Emissions Journey Together”. This pivotal study captures the perspectives of over 500 of Singapore's senior business leaders from a diverse range of industries and company sizes. As we approach the mid point of the decade of action, there remains significant work to do to meet global emissions targets. Managing #Scope3Emissions represents the final and most challenging frontier for almost all companies globally. 💡Some of the key findings include: - Nine out of 10 Singapore companies are not fully measuring and analysing their Scope 3 emissions. - Less than four in 10 business leaders claim to have a strong understanding of Scope 3 emissions. - Only 27% believe their organisation’s Scope 3 emissions targets are highly achievable. - Just 32% believe their net zero targets are achievable. The report was launched yesterday at an event attended by over 50 industry representatives from both the public and private sectors with a strong common interest in #sustainability and #emissions management. Kelly Johnston, our COO, moderated a panel discussion joined by esteemed leaders including Yoon Kim, Cluster President Singapore, and Brunei of Schneider Electric, Wai Geat Kang, Divisional Director, Professional Standards of Institute of Singapore Chartered Accountants (ISCA), Kelyn Tan, Head of Corporate Sustainability of UOB, Eu-Lin Fang, Sustainability and Climate Change Practice Leader of PwC Singapore, and Andrew Buay, Vice President, Group Sustainability of Singtel. To download summarised infographics and learn more about the study, visit https://lnkd.in/gFqU2GX2 #ESG #Decarbonisation #NetZero #IMPACTMakers #SandpiperESG Jacqueline Goh Irene Lim Rachelle Bada Samuel T. Kamaldeen Batcha Sarada Chellam Elizabeth Chu
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Making Businesses more Sustainable and Purposeful. Real Estate I Family Office I Private Equity I ESG. 地产 I 家族理财 I 私募基金 I ESG
Previously, sustainability was seen as costly, but firms now recognize its direct impact on profitability. Neglecting sustainability risks reputational damage, restricted capital access, and regulatory non-compliance. Schneider Electric's Yoon Kim, firms failing to meet greenhouse gas emission standards risk decreased business prospects. Small companies, especially those supplying goods to larger or EU-based firms, struggle to meet stringent emission requirements. Schneider Electric's survey reveals 78% of small firms lost business due to emission demands. To aid, they partner with Enterprise Singapore for SME decarbonization. Beyond losing business, firms risk investor disinterest. In Europe, inadequate sustainability disclosure prompts divestment. Asian investors now prioritize sustainability metrics in decisions. NUS Business School's Professor Lawrence Loh notes rising consumer and investor preference for sustainability. Saxo Bank's Junvum Kim, CFA sees stock demand linked to Environmental, Social, and Governance (ESG) scores. Deloitte's Brian CK HO 何智权 emphasizes investor focus on sector-specific ESG issues, advocating engagement over divestment. abrdn's Nicole Lim stresses transparency, with divestment as a last resort. KPMG's Cherine Fok highlights Singapore's role in meeting global ESG standards, favoring genuine sustainability efforts. #Sustainability #ESG #Disclosure #Compliance #Reporting #SMEs #Decarbonisation #NetZeroTransition #Business I FSB Task Force on Climate-related Financial Disclosures (TCFD) I Global Reporting Initiative (GRI) I International Sustainability Standards Board (ISSB) I The Straits Times I Sue-Ann Tan I NUS Centre for Governance and Sustainability (CGS) I NUS Business School Executive Education
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📢 𝗨𝗻𝗹𝗼𝗰𝗸 𝘁𝗵𝗲 𝗥𝗲𝗴𝘂𝗹𝗮𝘁𝗼𝗿𝘆 𝗥𝗲𝗾𝘂𝗶𝗿𝗲𝗺𝗲𝗻𝘁𝘀 𝗼𝗳 𝗘𝗦𝗚 𝗥𝗲𝗽𝗼𝗿𝘁𝗶𝗻𝗴 𝗶𝗻 𝗦𝗶𝗻𝗴𝗮𝗽𝗼𝗿𝗲 𝘄𝗶𝘁𝗵 𝗢𝘂𝗿 𝗟𝗮𝘁𝗲𝘀𝘁 𝗠𝗮𝗴𝗮𝘇𝗶𝗻𝗲! In Singapore, ESG (Environmental, Social, and Governance) reporting is crucial for businesses addressing sustainability and meeting stakeholder expectations. The Singapore Exchange (SGX) mandates all listed companies to disclose their sustainability practices in their annual reports through a "comply or explain" approach. Key Points: ✅ 𝗠𝗮𝗻𝗱𝗮𝘁𝗼𝗿𝘆 𝗥𝗲𝗽𝗼𝗿𝘁𝗶𝗻𝗴: All listed issuers, overseas companies, REITs, and business trusts must start climate reporting by 2025. ✅ 𝗘𝘅𝘁𝗲𝗻𝗱𝗲𝗱 𝗥𝗲𝗾𝘂𝗶𝗿𝗲𝗺𝗲𝗻𝘁𝘀: Non-listed companies with revenues of at least S$1 billion (US$750 million) will begin reporting in 2027. ✅ 𝗥𝗲𝗴𝗶𝗼𝗻𝗮𝗹 𝗜𝗺𝗽𝗮𝗰𝘁: Australian companies operating in Singapore must understand these guidelines for seamless operations. The core of Singapore’s ESG strategy is the Green Plan 2030. The roadmap aims to advance the city-state’s national sustainable development by 2030. As such, sustainable practices ensure that a business can continue to operate over the long term by conserving resources, reducing waste, and minimizing environmental impact. Ignoring ESG considerations risks losing stakeholder trust and facing reputational damage. Embrace these regulations to ensure transparency, accountability, and growth opportunities. 📌 𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝘁𝗵𝗲 𝗖𝗼𝗺𝗽𝗹𝗲𝘁𝗲 𝗚𝘂𝗶𝗱𝗲 𝗛𝗲𝗿𝗲: https://lnkd.in/gG4zkNFA 🏢 𝗖𝗼𝗻𝗻𝗲𝗰𝘁 𝘄𝗶𝘁𝗵 𝗢𝘂𝗿 𝗦𝗶𝗻𝗴𝗮𝗽𝗼𝗿𝗲 𝗧𝗲𝗮𝗺| Understand how ESG requirements affect your business today! https://lnkd.in/g8t2DwwH #ESG #climatereporting #singapore #compliance #sustainablegoals
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🌱 𝗖𝗵𝗮𝗿𝘁𝗶𝗻𝗴 𝗢𝘂𝗿 𝗦𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗹𝗲 𝗝𝗼𝘂𝗿𝗻𝗲𝘆 𝗶𝗻 𝟮𝟬𝟮𝟰: 𝗔 𝗖𝗼𝗺𝗺𝗶𝘁𝗺𝗲𝗻𝘁 𝘁𝗼 𝗧𝗼𝗺𝗼𝗿𝗿𝗼𝘄 🏗️ Tiong Seng Group took bold steps towards a sustainable future by weaving environmental responsibility into our operations. Our journey began with the ESG Opening Forum, where we unveiled our robust sustainability framework and established a dedicated Board-level Risk & ESG Committee. Embracing transparency, we adopted the Taskforce for Climate-Related Financial Disclosures (TCFD), marking our inaugural year of reporting. Our commitment extended to developing detailed Scope 1 and Scope 2 carbon inventories, a testament to our dedication to climate-conscious operations. Collaboration was key to our sustainability strides, as we forged impactful partnerships with esteemed institutions like the National University of Singapore and the Singapore Institute of Technology. Engaging with entities such as Outward Bound Singapore, Singapore Green Building Council, and the Singapore Business Federation fortified our commitment to sustainable practices. As we stand on the cusp of a new era, Tiong Seng Group looks forward with optimism. Our pledge to further enhance energy efficiency through renewable energy utilisation reflects our unwavering dedication to building a greener, more sustainable future for all. 🌏💚 #TiongSengSustainability #GreenFuture #ESGCommitment #BuildingTomorrowToday
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Are you ready to align your organisation's strategy, operations, and culture with your net-zero goals? Would you like to showcase your sustainability commitment and gain trust from your stakeholders, regulators, and investors? Do you want to learn from the best practices, tools, and solutions to overcome the challenges and seize the opportunities in your climate transition journey? Join us, in collaboration with KPMG Singapore, at this event where industry experts and distinguished speakers will share insights on how to effectively realise your organisation's net-zero ambitions. You will learn about: ▪ Assessing and managing risk-reward dynamics in corporate transitions. ▪ Utilising green financing, transition financing, and impact investing to drive climate initiatives in corporate strategies. ▪ Navigating legal and regulatory aspects of climate transition plans while ensuring compliance. ▪ Emphasising the role of technology and innovation in supporting sustainable business practices and climate transition plans. Register here: https://lnkd.in/gvMMvpSd #Sustainability #NetZero #TransitionPlanning #seminar #legalseminar #ESG #ESGseminar #KPMG #RajahTannAsia #LawyersWhoKnowAsia
Rajah & Tann x KPMG: Transition to Transformation: Opportunities & Pitfalls in Your ESG Journey
na.eventscloud.com
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Challenging economic times have led a significant number of Singaporean CEOs to deprioritize sustainability initiatives. However an EY survey suggests a contrasting trend is emerging, as Asia-Pacific markets lead the adoption of sustainability disclosure standards. This approach is further supported by China's ambitious plan to implement nationwide ESG disclosure rules by 2030, signalling a region-wide shift towards transparent and accountable business practices. Globally, the emphasis on ESG is influencing major corporate decisions, with over 70% of companies halting acquisitions due to ESG concerns, according to a Deloitte survey. However, this momentum faces challenges in Southeast Asia, where gas investments threaten to derail green energy advancements, as a recent report indicates. Moreover, the shipping industry is preparing for a greenhouse gas levy, which could significantly impact global trade dynamics. Subscribe to our newsletter for the full consolidation of this week’s global ESG headlines: https://bit.ly/40Wyl5P Top ESG stories from this week include: Singapore 🇸🇬 🌱 Over half of Singapore CEOs have pushed sustainability down their to-do list: EY survey (May 31) https://lnkd.in/gDC-i58A 🌱 Corporate disclosures for an ESG-focused audience (June 5) https://lnkd.in/gmgK6BdM APAC 🌏 🌱 Asia-Pacific markets make up majority of pioneer group to adopt sustainability disclosure standards (May 29) https://lnkd.in/gz-_eFHV 🌱 On the cards: Nationwide ESG disclosure rules for Chinese companies by 2030 (June 3) https://lnkd.in/g8dhiTWi 🌱 Gas investments in South-east Asia undermine green energy, climate push: Report (May 30) https://lnkd.in/gBD2rjXx Global 🌎 🌱 Over 70% of Companies Have Abandoned Acquisitions Over ESG Concerns: Deloitte Survey (June 3) https://lnkd.in/gUKzwXFD 🌱 A greenhouse gas shipping levy is on the horizon (May 30) https://lnkd.in/gWYBhKCn #ESG #Sustainablefinance #STACSESGFinanceWeekly Ray Ferguson | Benjamin Soh | David Teo | Jin Ser | Madeleine Chang | Kimberly Lee | Cleo Tan | Benjamin Tan | Grace Lim
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“Nearly eight in 10 small businesses in Singapore have lost business due to emissions reporting rules”. This report highlights the biggest business challenge in embracing #sustainability as the new imperative. To begin, many business leaders need to put on a new lens to see sustainability as an impetus for innovation rather than the cost of compliance. It requires them to - align the sustainability ambition to the broader business purpose, - create value for the business through sustainability, - impact the relevant stakeholders positively, and - quantify and time-bound the plan. Singapore Business Federation RISE by BCG U Boston Consulting Group (BCG)
Nearly eight in 10 small businesses in Singapore have lost business due to emissions reporting rules: survey
theedgesingapore.com
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Strategic Sustainability & Digital Transformation Leader | Spearheading ESG Integration and Carbon Management with Financial Alignment | Expertise in Energy Innovation, LNG Operations, and Project Management
DPM Heng Swee Keat recently announced an initiative at the SGX #sustainabilityreporting Review: By 2024, all statutory boards in Singapore are set to publish sustainability disclosures. This is a monumental shift towards integrating #environmental and #social responsibility in business practices in Singapore. Businesses play a crucial role in addressing global challenges like #climatechange and #social inequality. Singapore's commitment to transparency in sustainability reporting isn't just about compliance – it's about leading the charge in responsible business practices 👏 . With this initiative, Singaporean companies are aligning with global standards, setting an example for private corporations to follow. This is an opportunity for innovation and strategic growth, with long-term benefits in profitability and reputation! Singapore's stance is a testament to its leadership on the global stage in responsible business practices. It's a commitment that extends beyond mere financial success, balancing profitability with social and environmental responsibilities. This is not just a policy change; it's a redefinition of what it means to be a successful, responsible business in the 21st century. #sustainablebusiness #sustainabilitymatters #sustainablebusinessstrategies #sustainabilityleadership #ESG
All statutory boards to publish sustainability disclosures from FY2024: DPM Heng
businesstimes.com.sg
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Singapore is setting a new standard in sustainability with its latest move: mandatory climate-related reporting for listed and large non-listed companies, starting in 2025. This groundbreaking initiative, announced by Second Minister for Finance Chee Hong Tat, follows a phased approach, emphasizing transparency in Scope 1, 2, and eventually Scope 3 emissions. It's a bold step towards aligning with international sustainability standards and enhancing companies' access to markets and financing. This initiative by Singapore reinforces the idea that sustainability and financial performance are interconnected. Companies that are transparent about their environmental impact often find themselves better positioned to mitigate risks, seize new opportunities, and adapt to the evolving regulatory landscape. This can lead to enhanced long-term profitability and resilience against climate-related challenges. As we stand at the crossroads of a climate crisis, the need for a unified global approach to sustainability reporting has never been more critical. Singapore's bold step serves as an inspiring example for other nations to follow, potentially paving the way for a standardized global framework on climate reporting. Such harmonization would not only level the playing field but also significantly amplify our collective efforts in driving the transition towards a sustainable future. #Sustainability #ClimateReporting #ESGInnovation #esg #esgreporting #sustainabilityreporting #esginvesting
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Sustainability - supported by upcoming ESG standards and reporting - is becoming mainstream. (https://lnkd.in/gb5pZdZi) Topics such as carbon scorecards, ESG, green loans and supply chain resilience are gaining more momentum across the strategy, finance and accounting functions. (https://lnkd.in/g-2yXsas) Against this backdrop, the inaugural Sustainability Impact Awards was launched in February with a goal of recognising individuals and businesses in Singapore who exhibit leadership in pushing for a positive impact on the environment and society. (https://lnkd.in/gKs5nRsg) In her speech at the event, Minister for Sustainability and the Environment Grace Fu shared a few points that businesses might want to be aware of. These include: - Corporates play a crucial role in advocating for sustainability efforts in their sector - Global reporting standards are converging and being implemented to enable a more consistent picture of businesses’ impact on the environment - Businesses may face more regulatory risks as governments induct policies that seek to decarbonise their economies The full transcript of her speech can be found at https://lnkd.in/gQbbr-QT. #ByTheBaysg #ByTheBaycommunity #sustainability #sustainableimpactawards #sustainablesingapore #carbonzero #decarbonisation #netzero
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