Carbon Wire

Singapore’s Energy Market Authority (EMA) has granted conditional approval for TotalEnergies and RGE, through their joint venture Singa Renewables Pte Ltd, to import 1.0 gigawatt (GW) of solar energy from Indonesia. The project represents a critical step toward advancing renewable energy collaboration between the two countries and addressing Singapore’s sustainability goals. https://lnkd.in/em2r5ABk

Private capital alone is insufficient to bridge Asia's green transition. At Financial Times’ Moral Money Summit Asia 2024, GenZero CEO Frederick Teo shared his views on the challenges and potential unlocks to mobilise private capital to accelerate the region's green #energy transition. Blended finance, debt financing, and innovative financing mechanisms will be key in enabling a just transition. For instance, #transition #credits can help drive economic value towards the early shutdown of #coal plants and finance the expansion of #renewables.   “As #investors, we need to think about how we are able to structure certain things. We have always been talking about blended finance, but one of the greatest challenges is catalysing catalytic financing. How do we change that? One of the things that we think is important is having clear regulatory signals on demand, the pricing of carbon, and the pace at which the energy transition should be executed. This will enable private sector players and other capital owners, including banks, to be clearer on how to support transition efforts.” When asked about which areas #GenZero sees as less investable, he quipped, “There are no uninvestable areas. The question for us is how do we make it more investable as many of the areas we look at are going to be critical.”   Thanks Asilah Azil, Partner at McKinsey & Company, Marie Cheong, Founding Partner at Wavemaker Impact, and James Tam, Partner at Bain Capital Private Equity for the engaging discussion, as well as Simon Mundy, Editor of #FTMoralMoney, for moderating the session! All the best to the #FinancialTimes team for the second day of the Summit tomorrow. Check out the agenda at https://lnkd.in/eEcKHTVT

The real estate sector in the Asia Pacific region faces several major ESG challenges and opportunities. “There are significant challenges, but also substantial opportunities for those willing to go beyond the basics and genuinely embed ESG into their operations,” says Jackie Cheung at Knight Frank. One of the primary challenges is ensuring that companies genuinely integrate ESG principles throughout the entire real estate lifecycle, rather than just at the corporate level. “There’s a risk of greenwashing if a company makes bold ESG commitments but fails to implement them at the asset level across all stages of the property lifecycle.” #ESG #Sustainability #RealEstate Ahfisah Rahman https://lnkd.in/eRFp6T5W

Continued high use of the fossil fuel jeopardizes global climate ambitions, with over 95% of coal consumption worldwide occurring in countries that have pledged to achieve net zero emissions. A secure transition to a coal-free energy use fuel requires that we bring along all those who rely on coal today for their living and consumption. On this agenda, Asian energy providers have, in many ways, been leading in finding innovative paths towards realizing a ‘net zero’ future where sustained and affordable access to electricity is guaranteed and where people whose employment is currently tied to fossil fuel-driven value chains can continue to earn a living, writes Eric Francia, President and Chief Executive Officer of ACEN for Carbon Wire. https://lnkd.in/epfUs5T7

The Climate Action Data Trust (CAD Trust), a leading platform dedicated to aggregating and harmonizing carbon registry data, has unveiled a new strategic roadmap as it embarks on the journey toward establishing a permanent governance model by 2025. This roadmap signals a pivotal transition phase for the organization, originally launched in December 2022 by the World Bank, the International Emissions Trading Association (IETA), and the Government of Singapore. Central to this transition are significant leadership changes. Executive Director Nithyanandam Yuvaraj Dinesh Babu will be stepping down, while Federico Di Credico, a seasoned leader with deep involvement in climate initiatives, has been appointed as the interim CEO. Additionally, Ieva Steponaviciute will take on the newly created role of Director for Strategy and Outreach, underscoring CAD Trust’s commitment to strategic growth and broader engagement. https://lnkd.in/eb3k59ST

Data centres are the backbone of Singapore’s digital economy, enabling the constant flow of information and services that power businesses and society. However, protecting them from external threats is only part of the equation. These facilities must also be resilient to everyday risks, including those posed by Singapore’s unique environmental conditions. In an opinion piece for Carbon Wire, Mr Jason Low, Regional Head, APAC at Iceotope Technologies Limited discusses how the introduction of the Digital Infrastructure Act (DIA), coupled with advanced cooling technologies like Precision Liquid Cooling, will play a vital role. https://lnkd.in/g9Cb3tiF

In 2023, Filtrona reported a 29% reduction in net CO2 emissions compared to the previous year. The company also achieved Zero Waste to Landfill across all its manufacturing sites and increased its use of renewable energy to 32%. Filtrona has set targets to make all its manufacturing sites carbon-neutral by 2040 and to reach net zero emissions by 2050. “We see sustainability as a fundamental part of our business strategy,” says Robert William Pye, Chief Executive Officer of Filtrona. https://lnkd.in/gCmXtF_U

Profitability and sustainability are not mutually exclusive: “If it’s good for our customers, then it’s going to be good for our financial performance,” Rebecca Liebert, President & CEO, The Lubrizol Corporation. https://lnkd.in/gGeH-FtJ

In a world where the urgency of climate action is ever-increasing, Glenn Davies, Co-Founder of Net Zero-X, has embarked on a mission to revolutionize the way clean energy projects secure financing. With a background in project development focusing on clean energy and green fuels, Davies saw firsthand the difficulties that even the most advanced projects face when trying to secure the necessary funds. In an exclusive chat with Carbon Wire, he shares his experience that led to the creation of Net Zero-X, a Singapore-headquartered marketplace designed to connect sustainable projects with the financial industry, aiming to accelerate the global transition to net zero. Mark Cramer-Roberts, Chintai #netzero #carbonwire #sustainablefinancing #transitionfinance #blockchain https://lnkd.in/gx9KqaCc

In a significant step towards accelerating Southeast Asia’s energy transition, ACEN, GenZero, and Keppel Ltd. have signed a Memorandum of Understanding (MOU) to explore the early retirement of the South Luzon Thermal Energy Corporation (SLTEC) coal-fired power plant in Batangas, Philippines, by 2030. The collaboration aims to replace the 246 MW coal plant with a clean energy facility, integrating a solar plant and battery storage system. https://lnkd.in/gbQ8He6T