Haze/ Resources/ EU

Indonesia threatens to quit Paris climate deal over palm oil (27 Mar)

Indonesian leaders have announced that they are considering leaving the Paris climate deal if the European Union proceeds to phase out palm oil in renewable transportation fuel. The announcement comes after the EU categorised palm oil as a risky crop that led to significant deforestation and moved to phase out its use as a renewable fuel by 2030. Indonesian leaders had also threatened to boycott European goods and take the EU to the World Trade Organisation over the issue.

Source: Channel NewsAsia  

Corporate Sustainability

DBS issues standalone sustainability report, first Singapore bank to do so (28 Mar)

In line with its commitment to advancing the sustainability agenda as a purpose-driven bank, DBS issued its inaugural standalone sustainability report on 28 March. In doing so, it became the first Singapore bank to issue such a standalone report. The report provides an expanded account on progress made in supporting the United Nations’ set of Sustainable Development Goals[1] (SDGs) and material sustainability matters over the past year. DBS’ approach to sustainability is based on three pillars – (i) Responsible banking, (ii) Responsible business practices and (iii) Creating social impact. Within these pillars, the bank has chosen to focus on six SDGs, namely SDG 5 – gender equality, SDG 7 – affordable and clean energy, SDG 8 – decent work and economic growth, SDG 9 – industry, innovation and infrastructure, SDG 12 – responsible consumption and production and SDG 13 climate action.

Sources: DBS

CDL Integrated Sustainability Report 2019 (28 Mar)

In tandem with its Annual Report, City Developments Limited (CDL) has released its Integrate Sustainability Report (ISR) 2019, titled “Changing the Climate: Towards Future Value 2030 Goals”. The digital report communicates CDL’s progress towards its material Environmental, Social and Governance (ESG) goals and targets established under the CDL Future Value 2030 Sustainability Blueprint. This future-fit blueprint drives CDL’s integrated sustainability strategy towards 2030, a milestone year for global climate agreement and sustainable development.

Sources: CDL

Green Finance

ASEAN Roadmap to promote sustainable investment (19 Mar)

The ASEAN Capital Markets Forum (ACMF) endorsed the Roadmap on ASEAN Sustainable Capital Markets with a view to promote ASEAN asset classes for sustainable investment. It builds on existing ACMF’s efforts to further sustainable finance in the region since the launch of the ASEAN Green Bond Standards in 2017. The roadmap will be proposed to the ASEAN Finance Ministers’ Meeting in Chiang Rai for acknowledgement in April 2019.

Sources: The Star Online, The Edge Markets

Infrastructure needed to achieve 72% of Sustainable Development Goal targets (2 Apr)

A new analysis published in Nature Sustainability has found that the majority of the UN’s Sustainable Development Goals (SDGs) – global targets relating to poverty, health, the environment, peace and justice – will rely on infrastructure systems. The report encouraged policymakers to establish long-term visions for national infrastructure.

Sources:Nature Sustainability, University of Oxford

CDL secures S$500m in green loans for new property developments (5 Apr)

City Developments Limited (CDL) has secured $500 million in two green loans, marking the first time such financing will be used in Singapore for new property developments. The green loans will be channeled towards eligible green development projects as defined in the CDL green finance framework.

Sources: The Straits Times, The Business Times

WWF to financial institutions: Don’t divest away our forests (5 Apr)

The Worldwide Fund for Nature (WWF) published a statement outlining the role that banks and institutional investors – collectively financial institutions – can play in addressing deforestation and other environmental and social issues in the palm oil sector.

Sources: WWF