Orient Issue 92

DIGITAL. THE HIDDEN CARBON EMITTER

Sustainability does not limit itself to just physical objects but also digital.

DRIVING SUSTAINABLE EATING IN ASIA

Euromonitor on the value in driving sustainable products by aligning closely with health attributes and leveraging their benefits.

MARKETING A BETTER FUTURE: WHY MARKETING MUST LEAD THE NEW WAVE OF CORPORATE SUSTAINABLE TRANSFORMATION

With the exponential growth of Asian economies, spending power is moving East with the region shaping global consumption trends. This gives Asian consumers and companies a new and unique responsibility.

THE OFFICIAL MAGAZINE OF THE BRITISH CHAMBER OF COMMERCE SINGAPORE

Features

18 22 24 27

A DAY IN THE LIFE / AMAN SINGH CHAUHAN, UWCSEA DIRECTOR OF CAMPUS DEVELOPMENT - FACILITIES AND OPERATIONS

SUSTAINABILITY IN TECH / HOW CAN TELCOS HARNESS SUSTAINABLE TECHNOLOGY

What does it take for telcos to deliver innovative solutions that will meet the ever-changing needs of customers?

SUSTAINABILITY IN TECH/ DIGITAL. THE HIDDEN CARBON EMITTER

Sustainability does not limit itself to just physical objects but also digital. Learn more about sustainable digital web design.

ESG & BEYOND/ MANAGING SOCIAL FACTORS IN INVESTMENTS: NOT LOSING SIGHT OF THE “S” IN ESG

While many organisations are focusing on the E and G, we must not forget the S in ESG.

30 32 36 38

ESG & BEYOND/ ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG)

ESG ratings and metrics are important tools for evaluating the sustainability of companies, and they can significantly impact investment decisions and asset values.

ESG & BEYOND/ THE ART OF LEVERAGING UNIFIED ESG DATA AND TECHNOLOGY TO BUILD TRUST AND OPERATIONALIZE LOW CARBON STRATEGIES

A survey of managers and senior executives showed that 46% of companies increased their focus on ESG while planning for 2022.

39 41

BRAND POSITIONING/ INTRODUCING YOUR ROUND: CONNECTING LOCAL BREWERIES TO THE LOCAL CONSUMER

The traditional model of large breweries shipping their beers all over the world doesn’t quite cut it. That’s where Your Round comes in - an innovative circular subscription concept for beer reimagines the supply chain system to keep things local and sustainable.

BRAND POSITIONING/ MARKETING A BETTER FUTURE: WHY MARKETING MUST LEAD THE NEW WAVE OF CORPORATE SUSTAINABLE TRANSFORMATION

With the exponential growth of Asian economies, spending power is moving East with the region shaping global consumption trends. This gives Asian consumers and companies a new and unique responsibility.

FOOD SUSTAINABILITY/ DRIVING SUSTAINABLE EATING IN ASIA

Euromonitor presents the value in driving sustainable products by aligning closely with health attributes and leveraging their benefits.

In Every Issue

5

PRESIDENT’S MESSAGE

Hear from our President, Damian Adams, on our key priorities and support for members

8

NEWS & HIGHLIGHTS

What’s been happening at the Chamber, at our member companies, in Singapore, in the UK and around the region

WELCOME TO OUR NEW MEMBERS

Find out who has joined our network

INSPIRATION FROM THE TOP

Learn a little wisdom from those at the top of their game

THE CONTENT MIX

Popular or recommended content to support your business and personal skills development, helping to generate new ideas for your business and team.

HOW TO CONTACT US

Address: British Chamber of Commerce Singapore 137 Telok Ayer Street #06-03 Singapore 068602

Web: britcham.org.sg

Phone: +65 62223552

Email: General: info@britcham.org.sg

Editorial & Advertising: marcoms@britcham.org.sg

Social: LinkedIn Instagram Twitter Facebook YouTube Flickr

Update your subscriptions: britcham.org.sg/newsletter

ORIENT MAGAZINE

MAY 2023

EDITOR / Lucy Haydon

CO-EDITOR / Khairil Faisal orient-magazine.com

THE BRITISH CHAMBER OF COMMERCE EXECUTIVE TEAM

EXECUTIVE DIRECTOR / David Kelly

DEPUTY EXECUTIVE DIRECTOR / Lucy Haydon

HEAD OF EVENTS / Ashni Degamia

HEAD OF MEMBERSHIP / Clare Hakes

EVENTS EXECUTIVE / Caitrin Moh

MARKETING & COMMUNICATIONS EXECUTIVE / Khairil Faisal

FINANCE MANAGER / Radhika Chauhan

OFFICE MANAGER / Anna C Garciso

THE BRITISH CHAMBER OF COMMERCE BOARD

PRESIDENT / Damian Adams, Watson Farley & Williams LLP

VICE PRESIDENT / Haslam Preeston, DFI Retail Group

VICE PRESIDENT /Simon Middlebrough, Singapore

Aero Engine Services Ltd

SECRETARY / Nick Magnus, Dulwich College (Singapore)

TREASURER / Christina Mason, PwC

Suzy Goulding, MSL Group

Michael Buchanan, Temasek International

Angel Cheung-Horenfeldt, Standard Chartered Bank

Lorena Paglia, Microsoft

Penny Murphy, ERM

Michael Yap, Coventry University

Andrew Clark, AsiaWorks

Andy Marr, 8build

Simon Bennett Swire Shipping

Prakash Pinto, Standard Chartered Bank

David Haigh, Ernst & Young Solutions LLP

Lissy Vadakel, British Council

Steve Firstbrook, Department for International Trade

President’s Message

Dear Members,

I was both delighted and proud to see that the UK and Singapore have recently signed a Memorandum of Understanding on the establishment of a Green Economy Framework, a landmark agreement that will establish a platform on which to build and develop sustainable business practices and create new opportunities for collaboration between our two countries.

In keeping with our commitment to sustainability, our latest edition of Orient Magazine will focus on this very topic. We explore innovative solutions, successful case studies and feature industry leaders who are driving positive change.

Furthermore, I am delighted to report that negotiations for the UK to accede to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) have been successfully concluded, paving the way for greater economic integration and growth across the Asia-Pacific region.

Turning to events back in the UK, on behalf of the British Chamber of Commerce Singapore I congratulate His Majesty King Charles III on his Coronation, which was a moment of joy for the entire nation and for many Britons all around the globe. Thank you to all members who contributed a message of congratulations for our celebratory book and to those who joined the Eden Hall Open House event.

I take this opportunity to thank all members of the Board for their dedication and valuable contributions

to the Chamber during 2022-23, and similarly to extend a warm welcome to our incoming board members for the 2023/24 term, whether re-elected or co-opted. We are excited and fortunate to have the commitment of such a talented and diverse group of professionals and look forward to their valuable insights and leadership in the year ahead.

Thank you for your continued support of the British Chamber of Commerce Singapore, and we hope that you enjoy this edition of Orient Magazine.

Best regards,

Damian Adams President British Chamber of Commerce Singapore damian@britcham.org.sg

NEWS / AT THE CHAMBER

Announcement of a new partnership between McLaren Applied and PT Pamapersada Nusantara (PAMA Mining Contractors) in the field of Fuel Analytics.

24TH ANNUAL BUSINESS AWARDS OPENS FOR ENTRIES

For the first time this year, we’ll be recognising both the Winner and a Highly Commended entry in each category.

Entries opened on April 24th and close on June 30th and the Awards are free to enter. Don’t miss out on the chance to be recognised for your achievements and join us in celebrating the best in Singapore’s business community.

Download the entry guide here or visit the awards webpage for more information. See our previous winners and highlights of the awards ceremonies on YouTube.

BRITCHAM MEMBERS ANNOUNCE FUEL ANALYTICS PARTNERSHIP

An initial meeting between Haslam Preeston, BritCham Vice President and Director of HR, Southeast Asia at DFI Retail Group, and Michael Shearer OBE, currently Head of Region Asia Pacific, TRICARE Overseas Program, who was at the time a fellow BritCham Board Member and Managing Director of McLaren Applied, has since led to the announcement of a new partnership between McLaren Applied and PT Pamapersada Nusantara (PAMA Mining Contractors) in the field of Fuel Analytics.

McLaren Applied, a leading predictive analytics company, and PAMA Mining Contractors, a leading mining and energy contractor in Indonesia, will work together to develop and deploy Fuel Analytics solutions that allow PAMA to optimize their fuel usage across their operations. This partnership is the latest in a series of collaborations between McLaren Applied and companies in the mining sector.

Fuel Analytics is a critical area of focus for the mining industry, and we look forward to seeing the positive impact this partnership will have on the industry as a whole. The announcement has generated significant buzz in the industry, with many experts predicting that the partnership could pave the way for further collaborations between McLaren Applied and other mining and energy companies.

G7 PLEDGES TO QUIT FOSSIL FUELS FASTER, NO NEW DEADLINE

The G7 pledged on Sunday (Apr 16) to quit fossil fuels faster and urged other countries to follow suit, but failed to agree to any new deadlines on ending polluting power sources like coal.

The language reflects the depth of disagreements among the allies on the balance between climate action and energy security, with host Japan leading a pushback against the most ambitious proposals discussed.

After two days of talks in the northern city of Sapporo, the bloc’s climate and environment ministers vowed to “accelerate the phase-out of unabated fossil fuels so as to achieve net zero in energy systems by 2050 at the latest ... and call on others to join us in taking the same action”.

But they offered no new timelines beyond last year’s G7 pledge to largely end fossil fuel use in their electricity sectors by 2035.

France’s energy transition minister Agnes Pannier-Runacher said the “phase-out” wording was nonetheless a “strong step forward” ahead of the G20 and COP28 summits.

Britain and France had suggested a new goal of ending “unabated” coal power - which does not take steps to offset emissions - in G7 power grids this decade.

But with global energy supplies still squeezed by the war in Ukraine, the target faced opposition from other members, including Japan and the United States.

“I would obviously have liked to have been able to make a commitment to phase out coal by 2030,” Pannier-Runacher told AFP.

But “it is one issue on which we can still make progress in forthcoming discussions, particularly at COP28”, the UN climate conference in Dubai set for November.

Call To Reduce “Gas Demand”

The Group of Seven industrialised nations, which also includes Germany, Italy, Canada and the EU, pledged to end new plastic pollution by 2040.

Britain, Canada and the EU already belong to an international coalition with the same

BEYOND THE CHAMBER

Business news and opportunities from around Singapore, the UK, the ASEAN region and beyond.

goal, but this is the first time Japan and the United States have made the 2040 commitment.

Plastic waste has doubled globally in two decades and only nine percent is successfully recycled, the OECD says.

The G7 ministers also urged a peak in global greenhouse emissions by 2025 at the latest - language that experts say is aimed at the world’s largest carbon emitter, China, which is targeting its own 2030 peak.

Other topics proved more divisive.

The ministers had been under pressure to announce bold steps after a major UN climate report warned last month that global warming of 1.5 degrees Celsius would be seen in about a decade without “rapid and far-reaching” action.

But campaigners feared backsliding on previous pledges such as ending new overseas fossil fuel financing.

G7 leaders said last year that the “exceptional circumstances” of Russia’s war in Ukraine made gas investments “appropriate as a temporary response”.

Sunday’s statement contains similar language, but also sets multiple parameters around such investments and highlights the “primary need” for “gas demand reduction”.

Still, climate campaigners warned the ambiguity sends the wrong message.

“The science is crystal clear that leaving the door open to investments in new gas or (liquefied natural gas) leaves the G7 off track for 1.5 degrees Celsius,” said Laurie van der Burg of Oil Change International.

Even so, Japan’s minister of economy, trade and industry Yasutoshi Nishimura characterised the communique as “ambitious” and praised the G7 for “recognising diverse paths towards carbon neutrality”.

JOBS IN GREEN ECONOMY IN HOT DEMAND AS S’PORE LOOKS TO BECOME CARBON SERVICES HUB

As Singapore looks to establish itself as a carbon services and trading hub, jobs in the green economy to help businesses decarbonise and implement their net-zero strategies are now in hot demand.

Firms looking to hire foreigners for certain roles in this sector will find it easier to do so with a new points-based Employment Pass framework that will be launched on Sept 1.

Four roles – namely carbon verification and audit specialist, carbon trader, carbon programme manager and carbon standards and methodology analyst –will draw extra points on top of criteria such as educational qualification and salary.

They are among a list of 27 occupations given bonus points where Singapore has a talent shortage, in sectors ranging from alternative proteins to technology and healthcare.

A check by The Straits Times found at least 12 related job titles on platforms such as MyCareersFuture and LinkedIn, many of them in carbon auditing. The jobs were posted by companies such as environmental auditor TUV SUD, oil giant BP and various recruitment agencies.

RECAP / HIGHLIGHTS

Catch up with the latest digital content and highlights. Photo galleries from our major events can be found on our Flickr channel, with upcoming events here

FROM THE KNOWLEDGE BANK

Whether you’ve just arrived on the little red dot, or you’re changing direction in a new career path, making connections and building your professional network is critical to your future success. Professional networking in Singapore is commonplace, with an opportunity to attend a networking event, business conference or meetup available seemingly every day of the week. The first step to finding your people is to fill your diarysignup for local business meetups, conferences in your industry, your company’s events or those run by associations like the British Chamber. Your time is valuable, so be sure to choose your networking opportunities wisely, taking into account your work/life balance, your goals for connecting with people and - importantly - how you might be able to help others, which includes volunteering opportunities.

You can find listings of networking events on freeto-access websites, from social media platforms like LinkedIn and Facebook to curated event websites such as Peatix and Eventbrite. Large-scale business conferences in Singapore are often highlighted on the visitsingapore.com website, operated by the Singapore Tourism Board. It’s also worth scrolling through the events calendar at major venues, such as Singapore Expo, where conferences can be found months in advance.

Networking Tips

Arrive early

Get a feel for the room and allow people to come to you, rather than having to interrupt group conversations. Participating in several smaller conversations will help you to relax as the room fills up around you.

Interact with people you know as a way to meet others

Don’t fall into the trap of talking exclusively to those you know already, allow them to introduce you to others in their conversations and do the same for your existing connections. Force yourself out of your comfort zone by setting yourself a goal - to meet a specific number of people in a set time period or throughout the event.

Don’t be afraid to ask for an introduction

Event organisers like the British Chamber team are there to facilitate introductions between people- our primary goal at events is to deliver valuable connect and facilitate new connections for our guests. Don’t be afraid to ask us for an introduction to a specific company or person you have seen is attending, or approach us if we are within a group - we will happily bring you into the conversation.

For more tips read the full article from the BritCham team here

ON THE BRITCHAM SINGAPORE PODCAST CHANNEL

Since our last Orient edition we’ve published two new episodes of our podcast, on the topics of marketing, leadership, diversity and inclusion.

Ep 159: IWD Special: Driving for diversity and having a voice for equity

In our second IWD episode, we hear from Naomi Vowels, Co-Founder and Director of givvable, and David Jacob, Chief Executive Officer of Marsh Asia, who share their personal experiences with embracing diversity and equity at work and at home.

Ep 160 : The Customer Experience - Bringing behavioural science into your customer experience

Welcome to our first episode of The Customer Experience Series where we explore how to bring behavioural science into your customer experience. Our speakers from GoBeyond Partners speak to Nicki Houghton on how businesses have started to apply behavioural science principles to customer experience .

Access all episodes on our website or from your favourite podcast player, including Apple Podcasts, Spotify, Google Podcasts, Amazon Music, Audible, and many more.

Breakfast Insights: Top ESG Issues for 2023, March 2023

Investing with Purpose, March 2023

Breakfast Insights: Boost your air miles by optimising your credit card strategy, March 2023

Breakfast Insights: Singapore Residential Real Estate Outlook 2023, April 2023

Annual general Meeting 2023, May 2023

Leaders in Business Lunch with H.E Kateryna Zelenko, April 2023

WELCOME TO OUR NEW MEMBERS

The Chamber continues to welcome a host of new member companies to our network. To contact them visit the Membership Directory on our website or reach out to our team.

PAN PACIFIC ORCHARD SINGAPORE

347 exquisite residential-style rooms and suites are complemented by numerous lifestyle concepts including signature restaurant Mosella, focusing on Mediterranean cuisine with a Peruvian flair; speciality Champagne and oyster bar Florette; Claymore Ballroom on the 18th floor for events and celebrations; along with indoor and outdoor gyms, a St Gregory spa and pools.

Visit https://www.panpacific.com/ for more.

KERRY CONSULTING

Headquartered in Singapore since 2003, Kerry Consulting is Singapore’s leading Search & Selection firm. Our consulting team is the most experienced, and amongst the largest, in the ASEAN region.

Visit https://www.kerryconsulting.com/ for more.

LONDON SCHOOL OF ECONOMICS AND POLITICAL SCIENCE

The London School of Economics and Political Science (LSE) is one of the foremost social science universities in the world. LSE IDEAS is its affiliated foreign policy think tank that connects academic knowledge of diplomacy and strategy with the people who use it, working with other centres of excellence such as LSE Systemic Risk Centre and The Inclusion Initiative (TII).

Visit https://www.lse. ac.uk/ for more.

MCLAREN AUTOMOTIVE

McLaren Automotive is a creator and manufacturer of British Super Luxury, high-performance supercars. Every vehicle is hand-assembled at the McLaren Production Centre (MPC) in Woking, Surrey, England. Launched in 2010, the company is now the largest part of the McLaren Group. The company’s product portfolio of GT, Supercar Artura , Motorsport and Ultimate models.

Visit https://cars.mclaren. com/ for more.

ERIC SALMON & PARTNERS

Eric Salmon & Partners is a Management Consulting firm offering Executive Search and Leadership Advisory Services.

Eric Salmon & Partners provides a range of leadership solutions that ensures you have the opportunity to create a legacy.

Visit https://www.ericsalmon.com/ for more.

ALLEN & OVERY

Allen & Overy is a global law firm that helps the world’s leading businesses to grow, innovate and thrive. For almost a century, we built a reputation for our commitment to think ahead and bring original solutions to our clients’ most complex legal and commercial challenges.

In Singapore, our history spans over 30 years and we are one of the first international firms to be granted a Singapore Qualifying Foreign Law Practice (QFLP) license.

Visit https://www.allenovery.com/en-gb/global for more.

ROBERTSBRIDGE STONEHAVEN

Robertsbridge Stonehaven is an advisory consultancy to institutions around the world as they accelerate their transition to sustainability, circularity, and social equality, and face the twin challenges of decarbonization and halting the degradation of nature.

We help our clients to operate successfully in the context of rapidly shifting policy and regulatory frameworks, and customer and campaigning pressure.

Visit https://www.robertsbridgegroup.com/about for more.

KENNO ASSET MANAGEMENT

Kenno is a regulated asset management and advisory firm focused on finding value in public markets. Our mission is to grow our client’s capital through active long-term ownership.

Visit https://kennogroup. com/ for more.

SELECT PROPERTY GROUP

We develop, sell, and manage UK property to support you through each part of the investment journey. With global offices in Manchester, Dubai, Shanghai, and Hong Kong, we recognise the importance of being close to our international investors to support you with your bespoke needs.

Visit https://selectproperty.com/ for more.

INVESTMENT NSW

Investment NSW centralises the NSW Government’s trade and investment attraction activities, providing a single point of accountability for the private sector. Its role is to reinforce NSW as the most desirable place in the world to visit, study, invest and do business. It acts as a concierge for business, universities, and other institutions, partnering with different parts of government and its international network to bring the best of what NSW has to offer and create valuable partnerships.

Visit https://www.investment.nsw.gov.au/ for more.

WESTBOURNE COLLEGE SINGAPORE

Westbourne School UK is firmly established as one of Britain’s leading academic schools. Westbourne College Sydney shot to the upper echelons of Sydney’s finest academic schools with its very first cohort, ranking at the top of the Australian schools. Having firmly established proof of concept, we launch Westbourne College Singapore.

Visit https://westbournecollege.com.sg/ for more.

THE WHISKY CASK CLUB

The Whisky Cask Club has 50 years of Scottish whisky mastery, offering Southeast Asia and Australian connoisseurs and investors exclusive access to the market’s most sought-after casks. Boasting exceptional partnerships with elite suppliers, this prestigious organization delivers unparalleled luxury and distinction.

Visit https://whiskycaskclub.com/ for more.

INSPIRATION FROM THE TOP

“Before you are a leader, success is all about growing yourself. When you become a leader, success is all about growing others.”

- Jack Welch, former GE chairman and CEO

INSPIRATION / THE CONTENT MIX

Popular or recommended content to support your business and personal skills development, helping to generate new ideas for your business and team.

FOR THE BOOKSHELF FOR YOUR INBOX

PRE-ORDER: THE DIARY OF A CEO: THE 33 LAWS OF BUSINESS, MARKETING, AND LIFE

Steven Bartlett adapts lessons from his popular podcast for this upcoming release due in August 2023.

GRANTED NEWSLETTER

Adam Grant, an organisational psychologist at Wharton and New York Times bestselling author, offers a unique business newsletter that provides monthly insights on the psychology behind motivation in the workplace and how to find meaning in both your work life and personal life.

AKIMBO, A PODCAST FROM SETH GODIN

Hosted by marketing guru Seth Godin, Akimbo is about culture: how it affects a business and how we can use it to make our businesses successful.

BUSINESS WARS

Business Wars looks into the major players in different industries and studies the major battles between them. For instance, in one episode they study the relationship between Coca-Cola and Pepsi and the major moments that define both companies. Other episodes look at Monster and Red Bull, Adidas and Nike, and American Airlines and Southwestern.

INCOMING BOARD MEMBERS FOR 2023/24

Damian Adams Watson Farley & Williams LLP PRESIDENT

Haslam Preeston Jardine Matheson VICE PRESIDENT

Nick Magnus Dulwich College (Singapore) SECRETARY

Christina Mason Pricewaterhouse Coopers LLP TREASURER

Michael Buchanan Temasek Angel CheungHorenfeldt Standard Chartered Bank

Suzy Goulding MSL Group

Simon Middlebrough Singapore Aero Engine Services Pte Ltd VICE PRESIDENT

BOARD MEMBERS

INCOMING BOARD MEMBERS FOR 2023/24

CO-OPTED

CO-OPTED

CO-OPTED

INVITED

CO-OPTED

INVITED

We welcome the following board members who were elected at our Annual General Meeting on 10th May 2023

Steve Firstbrook Department for International Trade

David Haigh Ernst & Young Solutions LLP

Dr. Lissy Vadakel British Council

Andy Marr 8Build Pte Ltd

Simon Bennett Swire Shipping Pte Ltd

Prakash Pinto Standard Chartered Bank

Penny Murphy Environmental Resources (S) Management Pte Ltd

Michael Yap Coventry University

Andrew Clark Asiaworks Television Pte Ltd

PROFILES / A DAY IN THE LIFE OF... AMAN SINGH CHAUHAN, UWCSEA DIRECTOR OF CAMPUS DEVELOPMENTFACILITIES AND OPERATIONS

06:45

/ Riding the Bus

I grab a banana as I head out the door and walk to the bus stop. Today my wife accompanies me for the walk, which is a privilege. I ride the bus for 45 minutes to campus and use the time to catch up on chats with my parents and siblings.

09:15 - 10:00

I meet the Head of College to provide him with an update on a significant project and related milestone and have also agreed upon some of the strategic works that are unfolding in the next 3-6 months.

10:10

It’s 10:10 and on my way back to my office I have a quick check-in with the food services manager and Head Chef. We run a large operation with an average of 7000 meals a day!

10:30 -11:30

I meet with our procurement team to work on a project that needs to go out for tender.

11:30 -12:00

/ Lunchtime with Plants

It’s a busy day so it’s time for an early lunch - I grab a big salad bowl, and go to my favourite hideout where I can talk to my friends “The Plants” - they are always very good listeners!

/ Critical Infrastructure Review

08:00 - 08:30

/ Reading in the morning

04:40

Helloooo and good morning to another beautiful day! My early morning routine is almost always the same - drinking a litre of lukewarm water, reading a book and meditating. I then brew a tea of my own invention that helps jumpstart my day; it includes ginger, cinnamon, cardamom, cumin seeds and more. Then it’s time to wake the kids and chat over their breakfast about how our day looks like by this beautiful sunrise over Bukit Timah.

I do a quick check-in with various team members. Helpdesk, critical infrastructure review on digital dashboard, bus service, security and food services have my attention first thing in the morning and I connect with these leaders based on the priorities for the day.

12:00 - 13:00

Accreditation meeting for the Council of International Schools. It’s a significant process and we agree on the next steps before we meet the extended team.

13:00 - 13:10

08:30 - 09:10

I meet team leaders from across campus to discuss Health and Safety, Child Safeguarding and any major administrative work.

On the way to my next meeting I take a few minutes for a dynamic stretch and a few deep breaths.

13:15 - 14:00 / Meeting with Students

Meeting with students working on a technological accelerator to reduce food waste on campus. My engagements with students are special as they are always creative and inspiring. This is definitely my favourite meeting of the day!

16:15 - 17:00 / Facilities Operations

I am chairing a meeting to review the largest Facilities and Operations project this year - bringing a large playground to our beautiful East Campus. We are very excited to add this wonderful feature which will add so much joy to the community.

19:30

I call it a day on campus and head home. On the bus I tune into the podcast “A Little Bit of Optimism by Simon Sinek”

20:15

I reach home and quickly check to see if the kids are still awake - Yipieeeee they are pretending but aren’t asleep yet! We share about our days and then it’s lights out.

20:45

I put on some instrumental music and have dinner with my wife. This is our time to connect and catch up on the day.

21:30

17:00 - 17:30

14:00 - 15:30

Catching up on emails and preparing for an upcoming Leadership meeting.

15:30 - 16:00

An operational update meeting with the Head of College where he shares some of the updates on structure as well as significant projects that are underway.

16:00 - 16:15 / My Tea Break

Time for a quick walk in the garden next to my office and another 5 minutes of dynamic stretching. I have made myself a tea, hmmm this reminds me of a very kind colleague of mine who sent this special tea over for my team.

Meeting with Pris, a wonderful colleague who basically keeps me sane during these busy days! She shares project updates and we look at the agenda for tomorrow.

17:30 - 18:00

Checking in with a new colleague. Eva has joined our team in the capacity of Environment Health and Safety Manager and she shared that she had a good day which makes me happy.

18:00

My alarm goes off, suggesting that I need to be in the Gym, however there are some invoices and purchase orders to be approved. I extend the alarm by 20 minutes but I am committed to my workout.

18:30 - 19:10

/ Gym Time

I hit the gym, a combination of cross fit and weights. At the same time I am listening to my favourite music which helps me relax. We have a wonderful fitness centre on campus. I do take some credit for physically building it last year so there is a natural sense of belonging too!

Time to read and meditate for a short time, reflect on my day and make some mental thank you’s. Now it’s time to recharge.

22:30

Sleep time!

About UWCSEA

We are a united, welcoming community that embraces students and their families from around 100 different nations. The second member of the UWC Movement, the College was opened by Lee Kuan Yew as Singapore International School in 1971. SIS became the United World College of South East Asia in 1975 and has gradually expanded to become the K–12 international school of over 5,600 students across two campuses that it is today.

Our community, while large, celebrates and builds on the success of individuals, with an aim to create a wider impact through our Mission. UWCSEA embodies everything the UWC Movement stands for: concern and compassion for others, the willingness to accept responsibility, and tenacity in pursuit of the truth. What also distinguishes our students is how much they give service to others: their compassion and commitment are writ large in the many hundreds of hours of impactful service the College bears witness to every year, across a hugely diverse range of Activities, and which we celebrate as much as our Academic achievements.

HOW CAN TELCOS HARNESS SUSTAINABLE TECHNOLOGY

― Telecommunication companies have transformed the way we connect with people around the globe. But what does it take for telcos to deliver innovative solutions that will meet the ever-changing needs of customers?

by BT

Telecommunication companies have transformed the way we connect with people around the globe. But what does it take for telcos to deliver innovative solutions that will meet the ever-changing needs of customers? How far will operators go before the world feels the environmental reverberations of their tech developments? The ecological impact and costs of technological advancements made by the telco industry might be more sinister than we think.

Impact on environment

As the world emerges from the aftermath of Covid-19, the unprecedented demand for digital communications has compelled telco infrastructures into greater energy consumption. According to GSMA Intelligence, energy consumption accounted for 15 – 40 percent of telcos operating expenditure in 2021. And with global data traffic expected to grow around 60 percent per year, the industry’s share will grow further unless investments in energy efficiencies can offset the effect.

Telco operators are significant contributors to both carbon emissions and waste. The energy-hungry infrastructure adopted by telcos required to cope with skyrocketing data traffic and the energy exigencies of broadband customers’ routers account for a majority of telcos’ carbon emissions.

Apart from carbon emissions, digital waste is also a primary cause for a telco’s sizeable environmental footprint. A United Nations University study shows that Asia generated 24.9 million tons of e-waste in 2019, or 5.6 kg per capita, of which only 11.7 percent was documented to be collected and properly recycled. About 80 percent of e-waste is discarded in landfills, burnt or illegally traded every year, according to Global E-waste Monitor.

Implementing sustainable practices into business decision-making

To limit the repercussions of their energy usage, telcos need to go above and beyond current capabilities to implement effective initiatives that will help them limit their environmental impact.

Remote equipment monitoring and diagnostics enabled by telco services can help businesses maintain their hardware more efficiently while reducing emissions. By increasing the quality of these electronic devices, the amount of e-waste generated will also be reduced.

Incorporating digital carbon calculators into devices will help to measure, monitor and reduce power and carbon

emissions across customers’ IT networks. These carbon calculators can scan the customer’s network inventory to estimate its carbon footprint and tracks its responses to changes and upgrades over time. It includes lifecycle management, highlighting devices at the end of service to prioritise for replacement. Customers can also choose to use the calculator by uploading an inventory of their -network equipment for analysis.

Digital twin technology can be used to test changes to a sample resources’ configuration, behaviour, and use in business processes in ways that are less destructive than their real-life physical equivalent. This concept can help to increase climate resilience, reduce emission intensity and improve efficiencies in IT networks. Such an optimisation enables enterprises to improve innovation and performance, particularly when it comes to monitoring and identifying ways to become more efficient, prevent downtimes and plan for future events.

Telcos need to educate other organisations on the consequences of inappropriate disposal of e-waste. Telcos can develop specialised programmes tailored to guide business customers towards repurposing old electronic equipment and recycling e-waste to leave minimal damage on the environment.

Telco operators should also consider pursuing opportunities to help other industries become more energy efficient. By offering solutions that

can replacing high carbon physical products and activities with virtual low carbon equivalents, telcos can collaborate with other businesses to help customers and partners curb emissions and save energy. Developing smart products and solutions can help other industries reduce their carbon emissions by an amount up to 10 times the telco industry’s own emissions. Telcos can research the potential for tech to enable a lower-carbon economy, and scale up solutions to encourage businesses customers transition to net zero.

Sustainability at the forefront of the telco agenda

Tech corporations are taking charge of a digitally transformed generation by streamlining workflow processes, improving efficiency levels and changing the way we build relationships with people.

While such developments herald in an exciting digital era for the world, telcos and other high energy consumption organisations must find ways to harness the benefits of technology without harming the environment. In launching company manifestos, telcos can track goals towards accelerating responsible, inclusive and sustainable growth. Such a commitment towards energy efficient and low emission practices sets the stage for telcos to contribute towards a future that is

more climate resilient. Telco operators need to build their business decisions around the sustainability narrative – not only to reduce their environmental ramifications, but to enable their customers to better manage their ecological footprint as well.

About BT Singapore

We serve global multinational organisations around the world with our security, cloud and networking services. We can help your organisation to move to the cloud; turn collaboration into part of your culture; improve your contact centres; transform your customer service and simplify your network. All with security built-in, not bolted on.

Visit https://www.globalservices.bt.com/en

SUSTAINABILITY IN TECH/ DIGITAL. THE HIDDEN CARBON EMITTER

Why Your Business Should Embrace Sustainable Web Design in 2023

by Marc Seefelder, Chief Creative Officer MING Labs

Two years ago, when I broached the topic of Digital Sustainability and Low Carbon Web Design with clients, I encountered a range of reactions. Some were intrigued and saw the potential in the idea, but lacked the budget to pursue it. Others dismissed it as esoteric or a form of greenwashing.

The landscape has shifted since then, with companies of all sizes now embracing ambitious climate goals. The push for sustainable practices has been driven by the increasing significance of Environmental, Social, and Governance (ESG) factors in investment decisions and consumer preferences. Companies across all industries are now recognising that a failure to prioritise ESG not only undermines reputation and customer trust but also poses a threat to their investability and bankability.

Did you know that by 2040, the internet is projected to account for 14% of the world’s carbon emissions? In this context, it is important to highlight that the digital transformation of businesses is often an overlooked contributor to their overall carbon footprint.

What can we do to make a difference?

The solution to reducing our digital

carbon emissions is to incorporate carbon-conscious considerations into the work of designers and developers. This involves setting carbon-conscious constraints, utilizing green hosting, optimizing code and images, and promoting sustainable best practices. These constraints will lead to a decrease in carbon footprint, as well as better and more accessible experiences.

The beauty of this approach from a corporate perspective is that it can be easily measured and reported on, giving businesses the opportunity to track their progress toward a greener future and contribute to their climate goals. Let’s take charge of our digital impact and contribute to a greener future.

Do you know how much carbon your touchpoints are causing? Find out. Unleashing the Benefits of Sustainable Web Development for Businesses

If you’re looking to advocate for sustainable web design within your organization, it’s crucial to be armed with the reasons why it matters. Here is a rundown of the top 5 reasons why businesses should embrace this approach and take a proactive stance in reducing their digital carbon footprint.

1) Reduce Your Carbon Footprint

Sustainable web design helps businesses save energy and reduce their carbon footprint by optimizing images, compressing files, using efficient hosting solutions, and incorporating sustainable design principles and technologies such as renewable energy sources and sustainable materials. This leads to reduced power consumption and a smaller environmental impact.

2) Improve User Experience

Sustainable web design can also improve the user experience of your website. By designing a website that’s fast, easy to navigate, and accessible to all users, you’ll ensure that your customers have a positive experience when visiting your website. This can help increase engagement and conversion rates, leading to higher sales and revenue.

3) Enhance Brand Reputation

Embracing sustainable web design can enhance your brand reputation. As consumers become more environmentally conscious, they’re looking for companies that are making a positive impact on the planet. By committing to sustainable web design, you’ll show that you’re dedicated to protecting the environment, which can help attract and retain customers.

4) Give Your Business a Competitive Edge

As sustainable practices become increasingly important for many consumers, businesses that adopt sustainable web design will be able to stay competitive and attract clients, partners, and a talented workforce. The trend toward sustainable web design is rapidly gaining momentum, and by staying ahead of the curve, you’ll differentiate yourself from the competition.

5) Contribute to Sustainability Reporting

Show Your Commitment! Sustainable web design not only reduces your carbon footprint, but it also gives you the chance to report on your progress toward a greener online presence. Measure your carbon impact and adopt sustainable best practices and technologies. Set your business apart and show your customers you care by demonstrating your commitment to your goals. Publish it in your sustainability report to keep everyone in the loop on your journey toward becoming a more relevant business.

Conclusion

The increasing carbon footprint of the internet is a significant concern that businesses must address. It’s crucial for us to take control of our digital impact and make a positive contribution to a greener future. Let’s not wait for rules and mandates, but instead take the initiative in advancing a sustainable digital world.

About Ming Labs

MING Labs is a leading digital innovation and transformation company. We make businesses future-ready by design.

Visit https://minglabs.com/

Brighton College (Singapore). One of a Kind.

MANAGING SOCIAL FACTORS IN INVESTMENTS: NOT LOSING SIGHT OF THE “S” IN ESG

― Environmental risks tend to drive the environmental, social and governance (ESG) agenda in Asia. Carbon emissions, climate change and biodiversity garner plenty of media and regulatory attention. But as investors seek profitable and sustainable assets, there is an increased awareness of the importance of social issues.

by Control Risks

Failing to understand and manage social factors can do just as much damage to an investment as ignoring environmental issues. As well as presenting reputational, operational and legal risks, it might also mean missing critical opportunities for impact and value creation.

Social issues present unique risks and opportunities

Social risks are relevant to all organisations irrespective of their industry and geographical footprint. They manifest in a broad range of the most sensitive areas: human rights; occupational health and safety; training and education; diversity, equity and inclusion (DE&I); data privacy; community engagement; labour standards; and security practices.

When embedded into a company’s growth strategy, social factors present unique opportunities for resilience building, value creation and impact. However, the reputational risks associated with mismanaging social issues are high. Controversies are increasingly being played out in public and the negative impact on brand and value can be direct and immediate.

Key drivers

There are several reasons that social factors are increasingly on the agenda for investors, asset managers and their stakeholders. These include rising pressure and scrutiny from consumers, employees, financiers, and activists. Within Asia, key sectors like manufacturing, agriculture and e-commerce have found their social practices in the spotlight. Companies are now expected to be social actors on topics such as forced labour in supply chains, the rights of gig economy workers, and gender parity.

But the biggest driver for many organisations is a rapidly changing regulatory environment. While most businesses in Asia are already bound by national regulations on core topics such as modern slavery and child labour, new developments will force organisations to take a broader, global view of their social risks and impacts. Asia-based investors and their portfolios will not be immune to legislative shifts in Europe, where social issues are a focus for regulators at EU and national levels.

European regulations will have a wide-reaching impact

Investors are busy deciphering the EU’s new Sustainable Finance Disclosure Regulation (SFDR) and Taxonomy

requirements. Under the SFDR, firms will need to publicise if their investments have a negative impact on a set of environmental and social indicators, including gender pay gap and board diversity. The Taxonomy provides a classification system for sustainable investment: when aligning with Taxonomy’s environmental objectives, firms must also commit to respecting basic human rights and labour standards. These requirements can apply extraterritorially to EU financial market participants who make claims about the sustainability credentials of their products. This could include investors in Asia who may be marketing or fundraising within the EU.

New regulations on human rights due diligence, spearheaded by the EU’s proposed Corporate Sustainability Due Diligence Directive (CSDDD), will also require specific disclosure on how businesses are managing social factors across their value chains. A company does not need to have a physical presence in the EU to fall within the scope of CSDDD - if they meet certain thresholds, Asia-based companies with value chains or established business relationships within the EU will need to comply.

There are signs that these trends are shaping policymaking in Asia. Japan has issued the first regional guidelines on human rights due diligence and has urged Japanese companies to assess human rights across their supply chains, partnerships and investment portfolios. While not legally binding, one of the guidelines’ objectives is to help Japanese companies respond to emerging international requirements on human rights. The Singapore Exchange has recently tightened ESG disclosure rules for listed companies, including requiring issuers to set and disclose a board diversity policy in annual reports. In Hong Kong, listed companies now need to measure gender diversity throughout the workforce and disclose how they plan to achieve gender diversity. Single gender boards will be prohibited from 2025.

Globally, these developments mark a shift towards mandatory measurement and disclosure of social factors for operators and investors. It also places stricter requirements on asset managers to track negative and positive impacts throughout the ownership period.

Evaluating material social risks in a deal cycle

It is important to identify, asses and plan for critical social issues at the beginning of the deal cycle. Pre-investment due diligence should evaluate material topics that account for a combination of factors specific to the inverstor and a target:

• Best practices in the target company’s industry

• The target’s operational footprint and any local contextual considerations

• The regulatory oblogations the investore or target is exposed to

• An investor’s internal sustainability strategy, sector exposure and investment profile

• Shareholder and stakeholder expectations on metrics and reporting

Third-party relationships in the form of suppliers and clients present a major vulnerability for social risks, particularly in certain markets and sectors in Asia. Alongside assesing the principal investment target, transactional diligence should identify social risks that may manifest away from a target’s headquarters

and core operations. A risk-based approach sharpens focus on priority thirdparties either in higehr risk countrie or industries, or in relation to ther supply chains in Thailand, and at remote digital infrastructure assets in Phillipines. A criticial aspect of this work was evaluating whether corporate policies and messaging set at the target’s headquarters were being followed in practicce on the background.

There is a strong link between poor governance and social non compliance. Due diligence should also capture soccial “governance” -- how well a target is set up to align with social risk-specific regulations and whether there is a track record of non-compliance. Control Risks private market clients now regularly ask us to focus on understanding the culture and leadership of a target company during pre-deal due diligence. These funds know that evaluating an organisation’s progress onsocial factors such as DE&I, and the management team’s stance on employee wellbeing, are two areas that can give them critical insight into how a business is governed and how the ”tone from the top” is set. It can also flag potential corporate governance failures that could affect social risks: in one recent M&A deal, our diligence found that a target had been bribing authorities to pass

safety inspections at one of its factories, potentially endangering its workers.

Identifying opportunities

A key output of pre-deal due diligence is recommendations for remediation, risk management and value creation. A postdeal roadmap should include quantified costs, timescales and resource allocation.

Impact and value creation opportunities can be divided into short-term, “quick win” corrections to a target’s governance controls framework and internal processes, and longer-term shifts such as changes in culture and improvement of management practices. Some small but significant adjustments can be made in the post-deal period that will not affect a company’s commercial model These include implementing but can still have a tangible impact.These include mplementing new workplace safety policies or increasing training opportunities for employees.

Measuring progress

Investors should consider what measures and Key Performance Indicators (KPIs) are useful to assess progress and to demonstrate that improving social standards are creating value and impact during the ownership period. These metrics should account for stakeholder expectations and any regulatory requirements on ESG disclosures.

There is a perception that it is challenging to quantify social risk and impact (unlike environment and climate change risks, which tend to follow science-led measurements and targets). However, there are a range of indicators to use: gender pay gap; diversity; executive remuneration; workforce and key stakeholder sentiment; retention statistics; and controversy tracking. It is important to select indicators that are transparent and verifiable, and then be honest about where progress is lagging, or where metrics are not proving useful.

Technology solutions can streamline data collection and reporting. But these tools should not replace a considered approach to localising metric-setting and ESG integration �� this is particularly important for social factors in Asia, which are often shaped by local nuances, market dynamics and cultural context.

Key takeaways

Social issues are relevant to all organisations irrespective of geography and industry. Employee activism, shifting consumer and investor preferences, and new regulatory requirements mean ever more attention is being paid to social risks.

Legislative changes in the EU are catalysing global efforts to measure and publicise an organisations’ social risk and impact. Investors and portfolio companies in Asia may fall under the scope of extra-territorial requirements.

Social factors should be assessed during pre-deal due diligence. Research should identify and evaluate material social risk factors that account for factors relevant to the investor and the target: assessment and reporting standards; investment strategy; industry best practices; regulatory obligations; and the target’s operational footprint and its third-party relationships.

Post-deal risk mitigation and value creation. Changes can be short term quick wins or longer-term structural improvements, with KPIs used to monitor performance and measure impact.

About Control Risks

Control Risks is a global specialist risk consultancy that helps to create secure, compliant and resilient organisations. Combining unrivalled expertise, experience and reach with the power of data and technology, we provide the insight and intelligence needed to stay on track, realise opportunities and grow.

At Control Risks, we understand risk, cut through uncertainty, and empower our clients to make better decisions. We keep opportunity moving forward and support organisations to benefit the communities and environments they work in. Through insight and experience, we help to mitigate threats, whatever form they take. In times of hope and times of crisis, we stand alongside our clients. When what matters most is on the line, we make the difference.

LOOKING INTO ESG AND BEYOND/ Environmental, Social and Governance (ESG) Rating Scores of Singapore Companies

by Dr Chun-Yang Yin Associate Professor Newcastle University in Singapore

Dr Ming-Tan Tham Associate Professor Singapore Institute of Technology

Stakeholders should not be relying on a one-size-fits-all approach when using ESG rating scores to assess a company’s performance in managing environmental, social, and governance issues. They should obtain data from as many databases/agencies as possible before making careful and holistic judgement on the sustainability performance of companies.

Environmental, social and governance (ESG) aspects of corporations refer to the assessments of the companies’ values and consideration for organizational environmental, social and governance factors. According to MSCI, an American finance organization, ESG Investing is defined as the consideration of environmental, social and governance factors alongside financial factors in the investment decision-making process. ESG ratings and metrics are important tools for evaluating the sustainability of companies and they can significantly impact investment decisions and asset values.

On the local front, Singapore Ex-

change (SGX) stipulated sustainability reporting on a ‘comply-or-explain’ basis as one of its listing rules in 2016. It recently mandated a require ment that all board directors of listed equity issuers must have confirmed attendance of sustainability training, in their first sustainability report for financial years commencing on or after, and issued in 2023 or later (https://www.sgx.com/media-centre/20220317-sgx-regco-announces-start-sustainability-training-compa ny-directors).

Currently, there are many different firms/agencies worldwide, providing a variety of ESG scoring data. These rating agencies tend to develop their own proprietary rating methodologies which can be starkly different. As a result, discrepancies (divergences) in ESG scores for similar companies often exist (see figure below). The complex differences in ESG weightings, evaluation and scores as well as inconsistency in company data disclo sure also contribute to score heteroge neity. To combat the phenomenon of rating divergences, SGX has recently introduced SGX ESGenome (https:// www.sgx.com/sustainable-finance/ esgenome), a disclosure platform to facilitate metrics reporting aligned with global standards and frameworks, thereby ensuring regulatory compliance.

Figure: Discrepancies (divergences) in ESG scores for Singapore companies from two separate rating agencies. Data obtained from (www.sgx.com).

In Singapore, ESG scores assigned to SGX-listed companies could be obtained via the SGX official website (www.sgx.com/sustainable-finance/ stock-ratings) or using rating agencies via paid subscriptions for more extensive score data. The fact that many stated companies in these databases are not fully measured on all of the criteria (i.e. lack of data) renders complexity in making direct score comparisons, ultimately contributing to

chunyang.yin@ncl.ac.uk

MingTan.Tham@singaporetech.edu. sg

Providing a voice and sense of belonging for all.

At Dulwich College (Singapore) we believe in nurturing global citizens and well-rounded future leaders who are equipped to create solutions to the world’s challenges. Our goal is to encourage our students to Live Worldwise – to make informed choices, take inspired action and create positive impact. Our innovative and world-changing education is wellbeing-focused and balances academic excellence with a wealth of co-curricular opportunities that enable our students to discover their individual talents and passions.

To learn more visit Singapore.dulwich.org or call admissions at 6890 1003

LOOKING INTO ESG AND BEYOND/

THE ART OF LEVERAGING UNIFIED ESG DATA AND TECHNOLOGY TO BUILD TRUST AND OPERATIONALIZE LOW CARBON STRATEGIES

― ESG efforts have become increasingly important in recent years as awareness around the topic has grown, leading to an amplified focus on a business’ ESG (Environmental, Social, and Governance) contribution and performance. In The SustainAbility Institute 2023 Trends Report, a survey of managers and senior executives showed that 46% of companies increased their focus on ESG while planning for 2022, while only 3% expected to decrease ESG-related spend over the full course of the year.

by Penny Murphy, Partner, Regional Digital Services Lead, Asia ERM

ESG efforts have become increasingly important in recent years as awareness around the topic has grown, leading to an amplified focus on a business’ ESG (Environmental, Social, and Governance) contribution and performance. In The SustainAbility Institute 2023 Trends Report, a survey of managers and senior executives showed that 46% of companies increased their focus on ESG while planning for 2022, while only 3% ex-

pected to decrease ESG-related spend over the full course of the year.

In light of increased pressure to contribute to a low-carbon world, technology has emerged as a key player in helping companies report on their ESG metrics, manage performance and support the transition to low-carbon economy. It is without a doubt, that in this last decade we have seen a boom of technology and new means of interpreting ESG data to support low carbon strategies. In this article, we will explore the application of technology and unified data towards building trust and focused execution towards transforming your ESG agenda and operations.

Building trust in the era of rising ESG accountability

There are numerous ESG benefits for businesses that get it right, including providing competitive advantage, attracting investors, improving financial performance, building customer loyalty and helping to make a company’s operations sustainable. Tracking ESG performance is not declining. The SustainAbility Institute’s “2023 Trends Report” stated that 73% of executive compensation at S&P 500 companies increasingly includes performance metrics tied to ESG considerations – a 7% increase since reported in 2020 at 66%.

An ESG score (also called ratings) for organizations is commonly used as an evaluation of its focus and direction when it comes to ESG and how well the company proactively manages ESG issues that are most material to its business. Although the market has gradually increased the use of ESG scores and ratings, there are still

potential limitations and shortcomings such as lack of standardization, data quality, transparency, and a time intensive exercise.

Whilst many ESG rating providers have sought to address these matters by aligning to regulatory frameworks, the market demand continues for innovation to enable transparency. For example, in “Rate the Raters 2023” by The SustainAbility Institute, when asked to rate their level of overall trust in ESG ratings providers to accurately judge corporate sustainability performance, 52% of corporates and 59% of investors responded with a “3” (on a scale of 1 to 5), indicating moderate trust. Of particular concern are black box rating methodologies and questionable data accuracy.

This is where technology has stepped up to the challenge to provide an automated and auditable way to collect, compile and manage the information to make ESG ratings more accurate, contextual and accessible.

For example, with the vast amounts of information available today, collecting data on a company’s ESG practices can be a daunting task. Artificial intelligence can now be used to augment this process, using natural language processing (NLP) algorithms to sift through company reports and news articles. Machine learning algorithms can be used to identify patterns and relationships in vast amounts of data, allowing for more accurate ESG ratings. These algorithms can spot correlations between social and environmental issues and financial performance, giving analysts a more complete picture of a company’s impact and quicker means to identify relevant information and provide wider context to ESG issues.

To respond to this need, at ERM we have launched ESG Fusion - an AI-enabled software platform that provides on-demand ESG Due Diligence and Screening. To address transparency, the software uses methodology standards to evaluate more than 160 research indicators that elicit a variety of ESG topics such as climate change (physical and transition risks); supply chain; and diversity, equity and inclusion (DE&I). Such technology also

reduces what is typically a time intensive research exercise – by providing a 48-hour turnaround screening covering industry-inherent ESG risk, company-specific ESG risk based on the track record of controversial behavior, and an assessment of a company’s ESG risk mitigation based on management practices.

Designing a unified data-driven low carbon transformation roadmap

Organizations are currently facing a major challenge in where to focus time, resources, and budget to combating material ESG issues, and the use of data to align efforts is becoming increasingly important. Effective ESG data management can help identify trends and opportunities for reducing carbon emissions at various levels, from individual actions to larger-scale efforts.

Though it may seem daunting, the use of data to support the foundation of low carbon strategies and enable technology choices are critical. Companies need to undergo a data-driven transformation to achieve improvements in low carbon transition performance.

Broadly, companies need to consider these aspects for their ESG transformation journey and leverage enabling technology where possible, to create speed, scale and transparency:

• Firstly, understand what data sets they have within the organization and its relevancy. ESG-related data is diverse and scattered across the value chain and ratifying what data is relevant to making a material ESG impact is crucial.

• Streamline the relevant ESG data collection and enable standard data inputs and outputs. There are many technological advancements to leverage in the market- such as automation, integration of existing data sources/ systems, use of energy management systems (EMS) , data crawlers and natural language processing (NLP) on supply chain information.

• Select, configure, implement and sustain relevant digital systems that help operationalize sustainability objectives to support continuous ESG and EHS improvement.

• Design a centrally managed ESG data program and roadmap of ESG projects and initiatives which requires reporting/disclosures complying with global regulatory requirements.

• Measure and convert relevant data to actionable insights through predictive/ preventative models, data curation, underpinned by an integrated data governance strategy. For example, big data analytics, machine learning, and AI can process vast amounts of data from various sources, including energy consumption, emissions data, and supply chain information to identify patterns, trends, and opportunities for reducing carbon emissions. Companies can use predictive analytics to forecast their emissions trajectory and set emissions reduction targets based on data-driven insights.

• Provide ESG dashboards and reports to stakeholders through visualization. Visualizing data and on demand dashboards can provide stakeholders with a customizable view of a company’s ESG performance, allowing them to quickly understand the impact of different factors

• Drive and track ESG performance across organizational levels in alignment to ESG and Sustainability frameworks eg: TCFD, GRI, GRESB, ISSB

“According to The SustainAbility’s Rate the Raters 2023 Report, corporates and investors responses indicated moderate trust in ESG ratings providers to accurately judge corporate sustainability performance. This is where technology has stepped up to make ESG ratings more accurate, contextual and accessible assessments.”

Companies who can harness strategy, data and technology will gain trust, credibility and focused execution to a low carbon future. Our work with many companies to implement a Unified ESG approach has provided a robust way to manage ESG-related data and drive an agnostic technology roadmap.

A promising future for companies who digitise

The future of digital technology in ESG for low carbon transition is promising, as companies and investors continue to seek innovative solutions to address climate change and improve sustainability performance.

Leveraging technology to mobilize the vast amount of ESG data not only provide investors with much-needed accountability, but also enable managers and corporations to focus on their sustainability imperatives and contribute to a better world.

About ERM

ERM is the largest global pure play sustainability consultancy. We partner with the world’s leading organizations to create innovative solutions to sustainability challenges and unlock commercial opportunities that meet the needs of today while preserving opportunity for future generations.

Our diverse team of world-class experts supports clients across the breadth of their organizations to operationalize sustainability, underpinned by our deep technical expertise in addressing their environmental, health, safety, risk and social issues. We call this capability our “boots to boardroom” approach as its comprehensive service model allows ERM to develop strategic and technical solutions that advance objectives on the ground and at the executive level.

https://www.erm.com/

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Tanglin is the first school in Asia to achieve the Curiosity Approach™ Accreditation.

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Seeds of ideas and attitudes, once taken root, can last a lifetime.

/ DRIVING SUSTAINABLE EATING IN ASIA

― Greater awareness has not necessarily resulted in action amongst consumers, especially in terms of their food choices.

by Emil Fazira, Insights Manager – Food, Asia Euromonitor

Sustainability continues to be an important long-term strategy for companies, accelerated by the COVID-19 pandemic driving purpose-driven initiatives globally. However, greater awareness has not necessarily resulted in action amongst consumers, especially in terms of their food choices.

When asked what they look for in their food and beverage products, consumers in Asia prioritise health and nutrition (45% of respondents), low price (43%), and superior taste (34%). In contrast, only one in five consumers in Asia seek sustainably produced or raised products and one in four seek eco-friendliness (Euromonitor International’s Voice of the Consumer: Lifestyles survey, fielded in February 2023).

Need to address higher-price perceptions

Breaking down the barriers to consumption of sustainable food and beverages, the top three reasons amongst Asian consumers (from Euromonitor International’s Voice of the Consumer: Sustainability survey, fielded in January 2023) are:

1. High price relative to non-sustainable alternatives – 40%

2. Unclear labelling – 28%

3. Not sure what sustainable features to look for – 26%

The selection of these top three does not differ from other regions, indicating that they are not unique to Asia. Each country globally has a role to play in addressing these concerns, especially with regard to higher prices given the significant proportion of consumers with that perception. The outlook is optimistic, however, given that examining responses by country shows a correlation between consumer desire for sustainability and willingness to pay more (although desire tends to be greater).

Better for the planet and the body

Given that consumers say they are more inclined towards healthy and nutritious products, there is value in driving sustainable products by aligning closely with health attributes and leveraging their benefits. This will allow greater exposure of sustainable claims and increase consumer understanding of labels that they might have linked to health instead of the environment.

For instance, the top definitions of organic products are linked to benefits to the human body.

Asia Pacific Definition of Organic Products 2022 % of respondents

The number of online SKUs in Asia with organic claim labels grew by 13% between 2021 and 2022 (Euromonitor International’s Product Claims and Positioning) and these are the top ethical labels in food. However, the majority of organic products in Asia’s packaged food industry come from organic baby food, which tends to be sold at a premium, thus feeding into consumer barriers.

Sustainable packaging continues to make inroads

Another key challenge – environmental activity continues to be linked to reducing plastic use.

This is practised by consumers in many ways, such as using more reuseable packaging. Hence, the onus falls onto companies to reduce the use of plastics in their products or introduce more sustainable means of consumption, such as launching refillable initiatives.

Asia Pacific Top Environmental Actions 2022 % of respondents

An example is Nestlé Indonesia, which in January 2023 began the trial of a refillable vending machine at two local retailers, for its Milo and Koko Krunch cereal products. The trial was planned to last only for several months, providing households with alternatives to the use of single-use plastic. Users of the vending machine bring their own containers. As an added value to the machines, consumers can also access product information such as nutritional values, shelf life and the ingredients list of the products via a QR code.

However, many initiatives have so far remained at the industry level, such as reducing plastics use with minimal impact to consumers. CP Meiji, for instance, replaced the label material of its 2-litre milk bottles in Thailand with a thinner plastic type as part of its sustainability efforts.

Opportunities for long-term sustainability potentially tied to food security

Food security concerns have accelerated in the aftermath of the COVID-19 pandemic, with many Asian markets looking to achieve greater self-sufficiency and lower the risk of food shortages in light of supply chain challenges. As a result, markets like China and Singapore are heavily looking into ways to ensure a more stable food supply, while agriculture-dependent economies like Indonesia, Vietnam and Thailand are seeking ways to remain resilient amidst climate volatility.

Plant-based and alternative proteins are thus one of the key approaches for companies to convey their sustainability offerings. Plant-based products are linked to environmental benefits and health and nutrition, which raises their perceived value to consumers.

Overall, products that position themselves as better for the planet and for health have greater opportunities to resonate more closely with consumers. However, it remains the case that these attributes will only gain greater access to consumers alongside more comparable pricing to non-sustainable products.

About Euromonitor

Euromonitor International is the world’s leading provider of global business intelligence, market analysis and consumer insights. From local to global and tactical to strategic, our research solutions support decisions on how, where and when to grow your business. With offices around the world, analysts in over 100 countries, the latest data science techniques and market research on every key trend and driver, we help you make sense of global markets.

COMMENTARY / BOOSTING RETIREMENT INCOME WITH THE UK STATE PENSION

by By Huw Wedlock, The Fry Group

TheState Pension was established after the Second World War, as a method of enabling people in the UK to build their own retirement pot. Linked to earnings and inflation it offers a solid source of income and can be a useful subsidy to personal pensions. As well as being available to those in the UK, it can also be claimed by British expats in overseas countries which have a social security agreement in place with the UK. Operating as a contributory scheme, men born after 1951 or women born after 1953 can claim a full new State Pension as long as 35 years of National Insurance payments have been made.

But if you’ve spent time working overseas, taken career breaks to care for children or family members or not worked for other reasons, there may be gaps in those contributions. As a result, you might not qualify for a full pension, and it can be a useful addition to factor into your retirement income pot – the full single-tier State Pension is £203.85 per week; the equivalent to £10,600.20 per year from

6th April 2023.

Topping up contributions

There’s now an opportunity to top up contributions and the UK government have just extended the deadline you have to make up any shortfall.

Until 31 July 2023 it’s now possible to cover any payments which have been missed since 2006. Once this window closes it will only be possible to backdate any contributions from the past six years.

This top-up option applies to anyone reaching State Pension age from April 2016. Covering a full year’s gap is possible by paying £824. In return you’ll receive an additional £275 per year in State Pension payments, meaning in just three years it’ll have paid for itself – a sensible step when considering how to boost your retirement pot. This decision by the government was taken after the number of enquiries about missed payments increased. There has also been raised awareness of the State Pension following controversy last year over whether the triple-lock rule would be upheld. This

saw the State Pension rising by 10.1% in line with soaring inflation, honouring the protocol which sees the State Pension rise each year by either annual inflation, average earnings growth, or 2.5% – whichever is the greatest. Further information about making up any missed contributions can be made through the Future Pension Centre at the Department for Work and Pensions.

advice@thefrygroup.sg

www.thefrygroup.sg

Tel: +65 6225 0825

INTRODUCING ‘YOUR ROUND’: CONNECTING LOCAL BREWERIES TO THE LOCAL CONSUMER

― A circular beer delivery concept that won GOLD at the Pentawards 2022 for Professional conceptual work in the Sustainable design category.

by Tim Ryan, Senior Designer, 3D Structure & Experience, 1HQ Brand Agency

In a world where sustainability is top priority, the traditional model of large breweries shipping their beers all over the world doesn’t quite cut it. That’s where Your Round comes in - our innovative circular subscription concept for beer reimagines the supply chain system to keep things local and sustainable.

We started with a simple idea: the best way to drink beer is by heading straight to your nearest brewery to enjoy it fresh from the tap. But we know that’s not always practical. That’s why we set out to create a new platform that connects consumers with local breweries, offering convenience and reducing the barriers to engaging with reuse systems.

Working with sustainability business Anthesis, we designed a packaging system that addresses the environmental impact of the beer industry through circularity and decarbonisation. Your Round allows you to receive high-quality beers from a variety of brewers, while also reducing the depletion of natural resources and the amount of material used over time.

The packaging system uses robust, sustainable materials that offer longevity in use. Our modular containers are unbranded, so they can be repeatedly filled with any brand of beer, reducing waste and energy use. The system ‘slows the loop’ down by keeping or reusing resources and materials for longer,

and ‘cleans the loop’ by moving away from carbon and energy-intensive single-use materials.

To subscribe, consumers simply use the Your Round app to purchase beer brewed by local breweries. The fresh beer is delivered to subscribers using a purposefully designed reuse packaging system. Upon subscribing to the service, you are sent a “Smart Tap”, leased to you for the duration of your subscription. The smart tap can be attached to any of the kegs ordered from the Your Round App. The Smart tap has been designed with a modular approach. Components are easy to assemble and disassemble making maintenance and upgrades easy for users to implement. Doing so lessens the environmental impact of the device by futureproofing, extending the Smart tap’s lifespan.

The pressurised system is initiated through a refillable CO2 canister, also

provided with each order, ensuring that your beer is always served as fresh as the brewer intended. Once empty, pickup of the kegs and cannisters can be arranged via the app.

Our service works at a local level, with city or regional hubs and distribution networks collecting used kegs, cleaning them and redistributing the clean containers to breweries to be filled and sealed, then returned to the central hub where they are stored. The filled containers are delivered to subscribers’ homes, with empty ones collected in the same journey so that they can be cleaned and refilled again. Subscribers can also collect and return containers at their local bar, pub, or off-licence.

Through the data-enabled app, subscribers can interact with the service to browse and purchase beers, receive recommendations and offers, manage their orders, and monitor the status

of the beer they have purchased. The containers are fitted with smart tap technology, meaning that the primary brand interface ‘talks’ to subscribers using e-ink technology via a lens. The lens then presents the customer’s preferred beer with information about the product such as its brewing date, CO2 pressure and the ideal temperature for serving. The app and smart lens provide opportunities for targeted marketing for breweries and data collection to help the industry thrive.

The shape of the kegs are designed with a UK household fridge in mind allowing for either vertical or horizontal storage. Likewise the smart tap can be pivoted on a 45 degree axis meaning you can pour beer from either position depending on your needs. It allows you to experience cold draught beer just like you would at your local pub from the comfort of your own home.

The service could also be perfect for B2B, with independent bars and pubs, pop-up events and food trucks subscribing to the service and ordering larger containers (10L or 20L) from which to serve beer to customers.

our Round harnesses the growing love of local and connects consumers with local breweries and beers, forging new roles for local pubs, bars, and off-licenses to play and strengthening their interac -

tions with local consumers. The concept successfully challenges the existing global supply chain paradigm of the beer industry and offers a more sustainable alternative - a perfect example of how to create a new retail channel to support small businesses.

About 1HQ

1HQ is a global brand agency with the aim of communicating a brand’s Meaningful Difference by identifying and amplifying the attributes and assets that maximise its relevance, credibility and distinctiveness.

We ask and answer the hard questions that determine how brands should be postitioned, how they should innovate and how they are best represented through strategy, design and communication, especially with the accelerating pace of change in markets constantly challenging brands to come up with answers quickly and effectively.

https://1hqglobal.com/

BRAND POSITIONING / MARKETING A BETTER FUTURE: WHY MARKETING MUST LEAD THE NEW WAVE OF CORPORATE SUSTAINABLE TRANSFORMATION

The newly identified organisational intention-action gap is as big a challenge as the consumer intention-action gap to achieve 2030 Sustainable Development Goals (SDGs.) Radically reimagining the role of marketing to make sustainable transformation its organising principle could help achieve 40-70% reductions in greenhouse gasses.

by Trezelene Chan, Head Sustainability Practice APAC, Kantar

Dentsu and Kantar's special report on corporate sustainability has revealed that Marketing and Insights departments lag behind other business divisions when it comes to executing and measuring progress on their sustainability objectives.

Marketing must be radically reimagined to achieve 2030 Sustainable Development Goals and marketers play an important role in achieving corporate sustainability ambitions.

With the exponential growth of Asian

economies, spending power is moving East with the region shaping global consumption trends. This gives Asian consumers and companies a new and unique responsibility, especially as the region is expected to bear the brunt of climate-related catastrophes.

Consumer behaviour urgently needs to shift to more sustainable habits and lifestyles. According to Kantar’s latest Global Issues Barometer, climate issues are a key concern with nearly 60% of consumers globally saying they experience eco-anxiety which is driving

increased consciousness and desire for action. In tandem, system-level changes are needed to reach global sustainability targets and ensure the planet’s future. There is no doubt that businesses, brands and their agency partners are at a nexus of need and opportunity. As the bridge between brands and consumers, marketers have a unique opportunity, and therefore the responsibility, to be generational agents of change influencing consumer behaviour, as well as driving customer-informed innovation.

Marketers are failing, however, to grasp the opportunity. Dentsu and Kantar’s inaugural study of over 70 brand marketers in 12 markets across Asia-Pacific found that only one in three (34%) marketing and insights teams are ‘executing against their sustainability plans and measuring progress’. This compares unfavourably to 46% in supply chain, and 51% in corporate strategy. The new study identified two significant intention-action gaps, the consumer intention-action gap and the organisational intention-action gap, where marketers’ challenges are rooted.

In order to achieve deep, needle-moving advancement in sustainability, the study found marketing functions need a philosophical revamp: to be given a mandate to drive innovation beyond short-term sales KPIs, to create growth that is good for society and the planet as well as business. Corporate sustainability transformation and sustainable consumption need to become the organising principle around which marketing functions. The study predicts that by making this radical change, brands will be able to drive the behaviour and lifestyle shifts required to achieve the 40% - 70% reductions in greenhouse gas emissions that the sixth IPCC assessment report estimates as achievable.

It’s time to reframe the role and influence of marketing in your sustainability strategy

Even for the most eco-conscious of shoppers, when it comes to weighing up various reasons to buy, sustainability loses more often than it wins. This tension is, perhaps, most strongly felt when we are confronted with the ‘sustainability premium’ – where the product alternative that is better for the environment or society comes at a higher price point. Armed with creativity and enabled by technology, marketers have the power to influence sustainable consumption and act as change agents – driving awareness, educating consumers and greening behaviour. To do this effectively, they

must be laser focused not only on activating the benefits of their sustainable products – the fuels, but on eliminating the frictions that discourage purchase. And with purchase journeys being anything but linear, marketers need to be vigilant about incentivising the “right choice” at every stage.

Behavioural Science is an especially powerful tool for moving consumer intention into action. These techniques can precisely target barriers that stand in the way of sustainable consumption and gently nudge consumers in the desired direction. The key to success is applying these techniques with nuanced understanding of the complex set of socio-cultural and infrastructural factors that influence consumers individual choices and behaviour. And with our current ability to target audiences with precision, collect signals and sequence messaging, we can now test behavioural science-based techniques at scale.

Closing the consumer intention-action gap

We already know that the consumer intention-action gap is a problem for marketers, with 56% identifying it as a major challenge. Only 17% of Asian consumers actively change their behaviour to be more sustainable, despite 98% of Asians saying they will. The study reveals, however, that the organisational intention-action gap is an equally important challenge to be addressed. Although 73% of marketers believe sustainability is important for business continuity and value growth, the study uncovered tactical and fundamental barriers that hinder marketers from taking on meaningful sustainable leadership. These include focus on short-term sales growth targets above all other KPIs, lack of clarity within the marketing function around

“In a region where markers of progress and success may conflict with sustainable purchase choices and behaviours, how can marketers play a role in reframing what is desirable in society through the stories that brands bring, and also disrupt with innovative business models that can help new behaviours form more easily and at scale?”

metrics of success in relation to sustainability goals, and lack of adequate resources or capability building for sustainability within the marketing function. Innovation, collaboration and ownership across the different business functions against a clear set of sustainability goals will be required. Sustainability initiatives by the brand need to address consumers’ and the planet’s needs holistically and simultaneously. This means a whole new mindset for marketers and their corporate leaders.

About Kantar

Kantar is the world’s leading marketing data and analytics company. We have a complete, unique and rounded understanding of how people think, feel and act; globally and locally in over 90 markets. By combining the deep expertise of our people, our data resources and benchmarks and our innovative analytics and technology, we help our clients understand people and inspire growth.

Our Sustainable Transformation Practice works at the intersection of consumers, brands and environmental & social sustainability. Our practice works with brands to drive meaningful change and unlock the value-action gap. Find out more: kantar. com/expertise/sustainability