Specialists in HR , Employee Benefits , digital communications ( video marketing , e-books / reports ), customer / employee experience journey mapping for businesses across Asia . Experienced in health & benefits across Asia , we work with many key partners including brokers , insurers , health care providers , TPA ’ s , wellness experts etc . We provide knowledge / information on Employee Benefits to assist clients ( discounts for SME ’ s / Britcham members ) with ‘ all things ’ benefits – digital comms , flexible benefits , benefits systems review of existing programs , questions they should ask a broker etc . globally for more than 300 years .
Representative Member : Steve McArthur , Managing Director & Founder
CORPORATE OVERSEA MEMBERS
FILMDOO LIMITED
FilmDoo is an edutainment platform that raises engagement and improves learning outcomes using film- and video-based learning . Since FilmDoo already has one of the world ' s largest international film catalogues , they started out with language learning and have now expanded into corporate training , especially in Multicultural Communications , Leadership and Diversity & Inclusion . FilmDoo will be able to supply corporates with access to both content and their film- and video-based learning platform which allows users to turn any film & video into an interactive game and lesson in just a few minutes .
Representative Member : Weerada Sucharitkul , CEO & Co-founder
MEMBERSHIP OF THE BRITISH CHAMBER OF COMMERCE SINGAPORE
The Chamber offers membership types to suit companies at all stages of your business growth journey .
For those looking to investigate the market opportunities and retain connections with the British business community in Singapore while based overseas , we offer an Overseas Corporate membership and additional support options from our Trade Services team .
Small businesses benefit from our Corporate SME membership option , as you look to build brand awareness and a network of connections .
Larger companies may opt for a Corporate , Corporate Plus or Sterling membership type depending on the level of engagement and number of employees you intend to embed within the Chamber . Sterling members also receive exclusive benefits and brand awareness not available to other membership types .
We ' d love to hear your business story , your goals and your plans for growth , and we ' re certain we can help to play a part . Reach out to us via the enquiry form on our website at www . britcham . org . sg / how-can-the-chamber-help-me .
SPECIAL FEATURE: SUSTAINABILITY
39
THE CHALLENGES FOR GREEN FINANCE IN ASIA PACIFIC
Ahead of COP26 in Glasgow, UK, most developing countries,
including those in Asia, are gearing up for another round of
intense negotiations over the distribution of climate miti-
gation costs between the global north and the south. With
all Group of Seven (G7) nations having committed to net
zero greenhouse gas emissions by 2050, the pressure is on
emerging economies to follow suit.
However, if there is no further support to finance climate
change mitigation or adaptation efforts, many developing
nations will not be willing or able to commit to significantly
higher emissions reduction targets. At COP26, they will aim
to hold developed countries accountable for falling short on
their 2009 pledge to mobilise US$100bn a year by 2020 to
help developing countries respond to climate change. Access
to green capital is no doubt crucial for Asia’s transition to a
low carbon future. However, that assumes the region has a
robust regulatory and financial framework to deploy it, which
is not necessarily the case.
A taxing tale of taxonomies
Despite the surge in green capital allocation across the Asia
Pacific in recent years, regulators in several jurisdictions
have lagged their EU peers in formulating taxonomies or
classifications of economic activities that align with their
broader climate or sustainability objectives. Jurisdictions
also have substantively differing interpretations of what
qualifies as “sustainable” business activity. These divergent
interpretations will impede companies’ ability to quantify
their sustainability performance or communicate effectively
with investors and regulators. Consequently, it will also hin-
der their access to capital.
In most cases, regulators in the Asia Pacific have been in-
clined to follow the course adopted by the EU in its taxon-
omy templates to drive green finance. The EU’s experience
in climate stewardship and industry best practices can be
instructive for other regions, but there is growing uncer-
tainty as to how classification systems constructed from a
European perspective may affect businesses in Asia-Pacific.
To mitigate the
challenges of differing
ESG standards and
regulations, foreign
investors and
companies will need
to map their exposure
to market-related ESG
issues and focus their
risk management on
what matters most in
the local context.
For instance, the EU’s agriculture-related green taxonomy
criteria focus mainly on greenhouse gas reduction, where-
as sustainable farming practices and biodiversity-focused
techniques are agricultural priorities in Asian markets.
The EU’s disclosure regulations also have very stringent clas-
sifications for green versus non-green activities. Applying
these principles in the Asia-Pacific region would mean that
sectors and companies that do not meet the highest stan-
dards of “green” activity will be prevented from receiving
funding on all their projects. This is problematic as it would
exclude those that have the potential to significantly scale
up their sustainability practices. Such factors risk discour-
aging investment in transition activities, which are crucial
for decarbonising emerging markets in the Asia Pacific.
Beyond benchmarks relating to sustainability, there are sig-
nificant divergences in global regulations when it comes to
environmental, social and governance (ESG) risk assessment
standards and priorities. For example, the UK emphasises
climate risk mitigation in its regulatory statements, whereas
Singapore and Hong Kong have focused on broader environ-
mental considerations. The regulations also vary in terms of
the scope of examined exposures, timeframes, and granular-
ity of analyses.
Asia’s policymakers in recent months have stepped up
efforts towards international coordination on taxonomies,
as evidenced by the ongoing talks between the European
Investment Bank and People’s Bank of China to align their
definitions of green finance. Nonetheless, we are a long
way away from developing a common global framework that
allows flexibility for regional specificities. Therefore, Asian
investors need to examine global green finance regulations
within the context of local operational realities in the coming
years. This would enable them to make informed compari-
sons between different needs of developed and emerging
markets.
Sustainability reporting conundrum
Asia's slow progress in developing robust region and indus-
try-specific sustainability definitions and metrics can have
unintended consequences. The currently fragmented global
ESG reporting regime has created a dynamic ecosystem of
standard setters, data aggregators and third-party risk pro-
viders. These entities define ESG topics differently and apply
varied methodologies in their ratings and assessments.
Hence the information provided to investors about a compa-
ny's sustainability performance can often be skewed.
These issues have the potential to erode the long-term effi-
cacy of green finance in Asia. To mitigate the impact of such
challenges, foreign investors and companies will need to
map their exposure to market-related ESG issues and focus
their risk management on what matters most in the local
context. This will involve a risk-based approach to third-par-
ty and supply chain screening and efforts to identify and
gather the appropriate data to inform their ESG reporting
priorities and processes.
These issues also pose unique challenges to companies in
Asia. Businesses are likely to receive mixed signals about
stakeholder expectations and the sustainability actions
valued by the market. Consequently, they will set their ESG
reporting priorities either to refute or reinforce the narrative
told by the ESG ratings and analytics providers instead of
assessing their actual ESG performance based on risks most
material to the company's operations.
ABOUT THE AUTHOR ABOUT THE COMPANY
Reema is a Senior Analyst in Control Risks' Singapore office. She
plays a key role in expanding the firms services in the Environmen-
tal, Social and Corporate Governance (ESG) risk space and works
alongside clients to strengthen their in-house ESG processes. Reema
has significant experience in macro and sector-specific political
risk assessments, public policy advisory, stakeholder mapping and
engagement. She also advises clients on critical political, regulatory
risks that may affect their operations and exposure to regulatory
enforcement. Reema is a regular commentator for Control Risks in
Asia, speaking and writing regularly on ESG, business and broader
political-economic trends in APAC. Control Risks is a specialist global risk consultancy that helps to
create secure, compliant and resilient organisations in an age of
ever-changing risk. Working across disciplines, technologies and
geographies, everything we do is based on our belief that taking risks
is essential to our clients’ success. We provide our clients with the in-
sight to focus resources and ensure they are prepared to resolve the
issues and crises that occur in any ambitious global organisation. We
go beyond problem-solving and provide the insight and intelligence
needed to realise opportunities and grow. Visit www.controlrisks.
com
SPECIAL FEATURE: SUSTAINABILITY
THE CHALLENGES FOR GREEN FINANCE IN ASIA PACIFIC