Singapore
2023
September 28, 2023
Hybrid | ParkRoyal Collection Marina Bay
September 28, 2023
Hybrid | ParkRoyal Collection Marina Bay
Virtual (Free)
Amid inflationary pressures, recession fears, rising interest rates and the ongoing war in Ukraine, the global macroeconomic outlook is marked with uncertainty and high volatility. In developing Asia, this complicates the net zero transition — estimated by the Asian Investor Group on Climate Change to require US$37 trillion in investments over the next three decades to meet the Paris Agreement targets.
Ensuring that this transition is an equitable one has become a strategic priority on the international agenda, yet how this can be achieved in practical terms remains elusive. With many developing economies emerging from the global pandemic with constrained budgets and high capital costs, public coffers are critically insufficient to fund the energy transition. Governments are also grappling with priorities of poverty alleviation, supporting jobs and livelihoods, and energy security. Mobilising blended capital on a large scale from public, private and philanthropic sources will be key to addressing the financing gap required for this equitable transition.
What are some of the key mechanisms that will unlock capital for Asia’s just transition? What frameworks are needed to make transition finance an effective tool for hard-to-abate sectors? Will we see a revival of carbon markets and how can we mobilise philanthropic capital? Unlocking capital for sustainability 2023 will convene leaders and decision-makers across the government, financial institutions and civic society to explore the latest developments and pathways forward to enable an equitable transition.
Richard Mattison
Vice Chair, S&P Global Sustainable1 and Chief Executive Officer, S&P Global Trucost
Mattison
Speaking on:
Youraden Seng
Director of Banking Supervision Department II, National Bank of Cambodia, Sustainable Finance Working Group
Seng
Speaking on:
Jay Mariyappan
Head, Carbon & Renewables, PetroChina International (Singapore)
Mariyappan
Speaking on:
Zia Nariman
Senior Investment Officer and Asia Pacific Climate Lead, International Finance Cooperation
Nariman
Speaking on:
Leticia Guimarães
Lead, Carbon Markets; Climate Hub, United Nations Development Programme
Guimarães
Speaking on:
Atty Federico Tancongco
Senior Vice President and Chief Compliance Officer, Head of Compliance and Legal Department, BDO Unibank
Tancongco
Speaking on:
Jessica Cheam
Founder and Managing Director, Eco-Business; Independent Director, Wilmar International and ComfortDelGro Group, MSID, ICDM
Cheam
Speaking on:
9:00
Breakfast briefing - in partnership with Google
Can tech and AI empower people to live more sustainably, and enable funding for an equitable transition?
At this special invite-only briefing, we share insights from a new Deloitte report on how digital innovation can help accelerate climate action. Tools such as advanced sensors, cloud solutions, energy management systems powered by artificial intelligence (AI), and big data can help individuals and businesses to adopt more sustainable practices. This, according to a Deloitte report, will reduce our dependence on natural resources, protect our ecosystems, and ultimately ensure more sustainable outcomes for individuals from all communities.
And while digital innovation may lead the way to a sustainable tomorrow, much needs to be overcome before so. There is a need for funding in this area, and for policies to increase action and remove barriers in the way of climate projects. Key stakeholders, such as governments, businesses, and individuals, must also collaborate effectively with digital innovation and sustainability in mind.
10:00
Welcome remarks
Registration starts at 9.30am for the main summit
10:30
Opening fireside chat with Special Guest — Temasek Trust CEO
10:10
Opening keynote - Uniting for a sustainable future: Catalyzing climate innovation through AI and Partnerships
Solving for climate change isn’t easy, but the recent IPCC report found that we already have all the data and technology needed to mitigate the climate crisis – we just need to put it to use. Kate Brandt, Google’s Chief Sustainability Officer, will discuss how technology can be an enabler for sustainability, with AI playing a key role in climate innovation. She will also explain why Google remains positive about the future and discuss how the private and public sector can work together to drive climate action in APAC.
11:00
Opening plenary - Seeing Eye to Eye: A conversation with Asian regulators
Sustainability frameworks are increasingly being standardised across the world, with the International Sustainability Standards Board (ISSB) most recently issuing a set of global standards for sustainability disclosure. All across Asia, regulators are rapidly moving to adopt these guidelines in national markets. While Europe continues to lead in climate-related financial disclosures, Asia Pacific came in second, according to the latest Taskforce for Climate-Related Financial Disclosures (TCFD) Status Report.
Asian regulators now face the challenge of calibrating these frameworks to their local contexts, getting buy-in from the corporate sector, and facilitating sustainable investment flows into their markets — all while ensuring that ESG-labelled assets are credible. What are the most pressing challenges Asian regulators face in the changing policy landscape, and how are they working to make their taxonomies interoperable with other jurisdictions?
This panel will convene key regulators across the region to discuss which policies and strategies will be most effective in mobilising sustainable finance across the region to accelerate an equitable transition.
Speakers
11:50
Plenary #2 - Enabling an equitable transition
As global efforts to transition to a net zero economy intensifies, discussions around how to achieve an equitable transition — in which the benefits of this transformation are shared fairly while also supporting communities who stand to lose – are gaining ground. In developing Asia, this is of strategic importance to governments who are emerging from the pandemic with increased public debt and fresh pressures to address near-term priorities of inflation, poverty alleviation and energy security. How is the growing workforce being prepared and upskilled for this transition?
In the face of these challenges and disruptions, how is the private sector working with the public sector to develop economic strategies that address these issues? How can we embed equity and justice into policymaking and corporate action? This panel will convene speakers across the real economy to examine the role it plays in enabling a just transition in developing markets.
Speakers
14:15
Plenary debate: “This house believes that carbon credits can accelerate the energy transition in Asia.”
Carbon credits have a mixed track record in effectively reducing carbon emissions — will a renewed carbon market stand a chance at accelerating Asia’s energy transition?
The region’s demand for energy is set to rise exponentially over the next decade, with China, India and Southeast Asia expected to account for three quarters of emissions-intensive coal consumed worldwide, according to the International Energy Agency. While the cost of renewables has declined and rates of adoption are increasing, over 90 per cent of the world’s coal plants are shielded from competition and trapped in long-term contracts.
While several financial mechanisms – mostly focused on blended and concessional finance – to retire coal early in Asia have emerged in recent years, the first successful transaction for an accelerated coal phase-out has yet to be reached. Carbon credits have recently surfaced as a promising new revenue stream to expedite the retirement of coal plants and transition to clean energy sources, such as in the Coal to Clean Credit Initiative by the Rockefeller Foundation. Like grants, funding from carbon credits is repayment-free, which is key for developing countries with high debt burdens. But the volatile nature of these credits, questions around methodologies and recent controversies continues to create uncertainty for investors.
Speakers from two sides of this debate will convince the forum if carbon credits can provide an effective pathway to accelerate the energy transition in Asia in the next decade.
Speakers
15:00
Plenary #3 - Financing innovation: Can climate tech live up to its promises?
July 2023 was the hottest month on record, and according to the World Meteorological Organization (WMO), extreme weather, climate and water-related events have caused US$ 4.3 trillion in economic losses between 1970 and 2021 — with this figure set to increase in coming years. Without ambitious climate action to halve greenhouse gas emissions by 2030, the goal of limiting global warming to 1.5 degree Celsius above pre-industrial levels is slipping out of reach.
Technological innovation has been viewed as the solution to our climate crisis. From renewable energy to carbon capture, smart energy grids to artificial intelligence and electrification, climate and ESG -related technology has attracted a growing amount of private equity and venture capital investments. But will it live up to its promise? Analysts caution that these investments do not always result in emission reductions, and other scientists have called for a reduction of economic activity as an alternative instead. How can investors identify and scale up proven climate solutions? Are we banking too much on technology to save us?
This panel will convene experts to discuss the state of climate tech investments in the region, and how we can improve the allocation of capital into innovations that will move the needle on the climate crisis.
Speakers
16:00
Special fireside chat - The role of the Board in the equitable transition
As stewards of good governance, boards pay a critical role in guiding their organisations through the growing array of regulations and navigating geopolitical and sustainability risks in a new, disrupted world order. As countries chart a way forward to respond to climate risks and decarbonise their economies in an equitable transition, directors have a fiduciary duty to guide their companies competently through this transformation — or face being voted against during elections by shareholders.
What skill sets are required for directors to reshape their organisations and guide sustainability and climate reporting? As companies come under increasing scrutiny, how can they guard against rising litigation and greenwash? Join us for this fireside chat as we delve into the role of boards in driving an equitable transition in Singapore and the region.
Speakers
16:45
Closing plenary - Mobilising climate finance from the 4Ps: Public, private and philanthropic partnerships
Developing economies account for two-thirds of global greenhouse gas emissions and Asia Pacific, in particular, is highly vulnerable to the impacts of climate change. As the region grapples with multiple priorities of poverty alleviation, supporting jobs, and energy security, significant financing will be required to help them achieve their emission targets and adapt to the effects of climate change.
Mobilising blended capital — the strategic use of public finance to mobilise additional private finance — can help unlock funding for investments in under-funded areas typically seen as too risky or with low returns. Philanthropic capital has also emerged as a key source of funding to address the financing gap required for an equitable transition.
Many challenges remain however. From project sizes, to due diligence and transaction costs and long-term investment cycles, the number of successful projects in the region remain low relative to its potential. How can climate policies and finance be aligned to attract more private and philanthropic capital? What innovative instruments and mechanisms are needed to enhance risk-sharing and maximise the impact of investments made?
This panel will convene leading minds in the region to discuss how financing in the form of the 4Ps can be scaled for success in the region.
Speakers
14:00
17:30
Closing remarks and summary
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Google LLC is an American multinational technology company focusing on artificial intelligence, online advertising, search engine technology, cloud computing, computer software, quantum computing, e-commerce, and consumer electronics. It has been referred to as "the most powerful company in the world" and as one of the world's most valuable brands due to its market dominance, data collection, and technological advantages in the field of artificial intelligence.
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UOB
United Overseas Bank Limited (UOB) is a leading bank in Asia with a global network of about 500 branches and offices in 19 countries and territories in Asia Pacific, Europe and North America. We believe in being a responsible financial services provider and we are committed to making a difference in the communities in which we operate.
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RGE
Headquartered in Singapore, Royal Golden Eagle or RGE is a group of resource-based manufacturing companies with global operations. We produce sustainable natural fibres, edible oils, green packaging and clean natural gas used in consumer products such as paper, tissue, wet wipes, soap, shampoo, cooking oil and clothing.
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BDO Unibank
BDO is a full-service universal bank in the Philippines, providing a complete array of industry-leading products and services including Lending (corporate and consumer), Deposit-taking, Foreign Exchange, Brokering, Trust and Investments, Credit Cards, Retail Cash Cards, Corporate Cash Management and Remittances. Through its local subsidiaries, the Bank offers Investment Banking, Private Banking, Leasing and Finance, Rural Banking, Life Insurance, Insurance Brokerage, and Online and Traditional Stock Brokerage services.
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SM Investments Corporation
SM Investments Corp (SMIC) is a holding company that operates through subsidiary entities in banking, retail, shopping mall, and real estate development sectors. The company develops, operates and maintains residential, commercial, hotels and convention centers, entertainment buildings, and condominiums.
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Pollination
Pollination is a specialist climate change investment and advisory firm dedicated to accelerating the transition to a net-zero, nature positive future. It works with clients across government, business, and public and private capital, helping them to navigate the climate transition. Pollination is also developing several net-zero-focused investment platforms and is a partner in Climate Asset Management, a joint venture with HSBC that currently has US$650m in Assets under Management, across natural capital and carbon strategies.
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Centre for Sustainable Finance and Private Wealth
CSP brings together academic research and practical training programs. The global team consists of about 20 researchers and program staff enabling a modus operandi built on transforming questions into knowledge and bringing knowledge to action.
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CDP
CDP is a not-for-profit charity that runs the global disclosure system for investors, companies, cities, states and regions to manage their environmental impacts. The world’s economy looks to CDP as the gold standard of environmental reporting with the richest and most comprehensive dataset on corporate and city action.
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Centre for Sustainable Finance Innovation (CSFI)
The Centre for Sustainable Finance Innovation (CSFI) was established in 2022 to spearhead top-notch research and practical education on two main themes: sustainable finance and financial innovations. Its vision is to forge a solid strategic alliance among academia, policymakers, and finance practitioners. The foundations of CSFI are built upon three pillars of Research, Practice and Education.
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Singapore Green Finance Centre
The Singapore Green Finance Centre was established in 2020 as Singapore’s very first Centre of Excellence dedicated to driving Asia-focused green finance research and talent development. The Centre is a joint initiative between the Lee Kong Chian School of Business (LKCSB) at Singapore Management University and the Imperial College London. It is supported by the Monetary Authority of Singapore and nine leading financial institutions: Bank of China Limited, BNP Paribas, Fullerton Fund Management, Goldman Sachs, HSBC, Schroders, Sumitomo Mitsui Banking Corporation, Standard Chartered and UBS AG. SGFC is committed to developing high-impact applied research, engaging with the industry, and building capability.
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Singapore Institute of International Affairs
Established in 1962, the Singapore Institute of International Affairs (SIIA) is a non-profit and independent think tank committed to producing policy analysis, fostering in-depth dialogues and bridging gaps between policymakers, private sector decision-makers and experts to shape public policy and social responses.
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Global Compact Network Singapore
GCNS is the leading voice on corporate sustainability, GCNS drives multi-stakeholder action to forge a more sustainable future, founded on the Ten Principles of the United Nations Global Compact and the Sustainable Development Goals.
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EU Asean Business Council
The EU-ASEAN Business Council (EU-ABC) is the primary voice for European Business within the ASEAN region. The overarching objective of the EU-ABC is to promote changes in policies, rules and regulations so that European businesses can more easily invest and develop their businesses in ASEAN, benefiting not only their own shareholders but local economies and populations as well.
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IFC
IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2023, IFC committed a record $43.7 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, visit www.ifc.org.
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Centre for Asian Philanthropy and Society (CAPS)
Established in 2013, the Centre for Asian Philanthropy and Society (CAPS) is committed to improving the quantity and quality of philanthropic giving throughout Asia. Our mission is to improve the social investment sector in Asia by identifying and disseminating best practices, models, policies and strategies that can contribute to positive system change.
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Singapore Chamber of Commerce Indonesia
The Singapore Chamber of Commerce Indonesia acts as a bridge between Singapore and Indonesian businesses. The Chamber regularly hosts events and networking sessions to assist Singapore-based business leaders and entrepreneurs make connections with Indonesian government agencies and business community and gain a deeper understanding of emerging business opportunities in Indonesia.
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UNDP
UNDP is the United Nations' lead agency on international development. We work in over 170 countries and territories, helping to eradicate poverty, implement the Paris Agreement on climate change and achieve the Sustainable Development Goals. We connect countries to the knowledge, resources and networks they need to achieve development breakthroughs.
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AVPN
AVPN is a unique funders’ network based in Singapore committed to building a vibrant and high impact social investment community across Asia. As an advocate, capacity builder, and platform that cuts across private, public and social sectors, AVPN embraces all types of engagement to improve the effectiveness of members across the Asia Pacific region.
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Climate Policy Initiative (CPI)
Climate Policy Initiative (CPI) is an analysis and advisory organization with deep expertise in finance and policy. Our mission is to help governments, businesses, and financial institutions drive economic growth while addressing climate change. CPI has six offices around the world in Brazil, India, Indonesia, Kenya, the United Kingdom, and the United States.
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World Climate Foundation
The World Climate Foundation is the most influential global platform focusing on accelerating action and creating impact for fighting climate change, restoring biodiversity and ensuring health resilience.We facilitate large-scale collaboration between governments, businesses, financial institutions and international organisations, enabling the transition to a net-zero, nature-positive future. We promote cross-sectoral partnerships that accelerate innovation in technologies, policies and investments and promote demand to deliver solutions for climate, biodiversity and health.
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Climate Governance Malaysia
Climate Governance Malaysia (CGM) is the country chapter for the World Economic Forum's Climate Governance Initiative, whose purpose is specifically to raise awareness about the top financial risks arising from the climate emergency amongst non-executive directors. This Initiative has laid out 8 clear and comprehensive principles to help guide boards of directors. CGM was the second country chapter in the world to be launched and first in Asia.
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