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Morning Briefing: Top stories from The Straits Times on Aug 21

aseanpr
2 minutes

Good morning! Here are our top stories to kick-start your Saturday, Aug 21. Unvaccinated 82-year-old S'porean dies of Covid-19; 10th death in August Two new clusters were also uncovered - one of them is at a FairPrice supermarket in Kallang Bahru, with four cases. READ MORE HERE The race for home-grown Covid-19 vaccines The Straits Times sizes up some of Asia's leading vaccine candidates that are undergoing clinical trials. READ MORE HERE Malaysia's fight against corruption seen tied to new PM Ismail Sabri's political strength Several Umno leaders, who are backing Mr Ismail's candidacy as PM, are facing a raft of graft cases. READ MORE HERE More on this topic Related Story ST newsletters: Get alerts on the latest news A warming Earth: What does it mean for life in the Lion City? The UN climate science body's latest report has sounded the alarm bells for humanity. How will climate change affect S'pore? READ MORE HERE UN climate report: How much hotter can it get in Singapore in your lifetime? Find out what Singapore is doing about climate extremes and other key challenges flagged by the UN IPCC report. READ MORE HERE S'pore will stay open to the world, continue to welcome foreign co...

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S’poreans highly aware of environmental issues but adoption of green practices lags: OCBC climate index

aseanpr
4 minutes

SINGAPORE - The average Singaporean is highly aware of environmental issues, adopts many green practices some of the time, and advocates some of these issues and practices to friends and family. These are the findings of a climate index launched on Tuesday (Aug 17) by OCBC Bank in partnership with Eco-Business, a media and business intelligence company. OCBC said it hopes to raise awareness about environmental issues and inspire people to modify their lifestyle and act responsibly. Singapore, in recognition of the existential threat climate change poses to the island, unveiled its Green Plan 2030 earlier this year. Under the Paris Agreement, Singapore is committed to halve carbon emissions by 2050. The inaugural OCBC Climate Index national average came at 6.7 points - with Singaporeans scoring an average of 8.3 for awareness, 6.5 for adoption and 5.6 for advocacy. About 54 per cent of respondents had scores of between 6 and 7.9, while 30 per cent had scores of 4 to 5.9. The highest score was 9.5, with about 15 per cent of respondents scoring between 8 and 10. The lowest average was 3.1, and just 1 per cent had scores of 2 to 3.9. The index also showed that Singaporeans had high awa...

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askST@NLB: Let kids learn about nature to spark interest

aseanpr
3 minutes

SINGAPORE - Exposing children to as much nature as possible from a young age can help interest them in climate change, said National Library Board (NLB) Exhibitions Co-Curator Georgina Wong at an askST @ NLB discussion on Friday (June 25). Hosted by The Straits Times Science and Environment Correspondent Audrey Tan, the discussion - When Nature Speaks - was done virtually on Zoom and broadcast on ST's Facebook page. Ms Wong said allowing children to learn about Singapore's natural history firsthand can help them grow an appreciation for the natural environment, and NLB's HumanxNature exhibition on Singapore's biodiversity heritage is one such avenue for parents to do so. Open till Sept 26, HumanxNature explores Singapore's relationships with the natural world from cultural understanding and scientific study to commercial and urban land use, as well as conservation and restoration. The exhibition features an array of natural history books, botanical prints, plantation photographs and maps from the collections of the National Library and National Archives, together with herbarium and natural history specimens on loan from the Lee Kong Chian Natural History Museum, Singapore Botanic G...

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S’pore’s transition towards a sustainable economy requires a collective effort

elean
1 minute

SINGAPORE - Policymakers worldwide have woken up to the costs that climate change will inflict and are trying to smoothen the transition to a green economy. Environmental scientists believe 2020 to 2030 is the decisive decade for climate change action. But there is another factor that could push businesses into changing their ways even more urgently - consumers and investors may shun them if they do not. Please subscribe or log in to continue reading the full article. Get unlimited access to all stories at $0.99/month Latest headlines and exclusive stories In-depth analyses and award-winning multimedia content Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months* Subscribe now *Terms and conditions apply.

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Toyota Establishes “Toyota Ventures Climate Fund”

ruth
1 minute

Toyota City, Japan, Jun 3, 2021 - (JCN Newswire via SEAPRWire.com) - Toyota is strengthening company-wide efforts to further accelerate CO2 reduction toward its goal of carbon neutrality. As a part of this effort, Toyota has established a global investment fund, the "Toyota Ventures Climate Fund".To achieve carbon neutrality, in addition to making our own efforts, we believe that we need to collaborate with like-minded partners. The Toyota Ventures Climate Fund will invest in promising early-stage companies around the world, that are eagerly working on solutions to drive innovation in carbon neutrality.The Toyota Ventures Climate Fund will be managed by the team at Toyota AI Ventures, which announced today that its company name has been changed to Toyota Ventures (hereinafter referred to as "TV"). TV will serve as the fund manager (GP) on behalf of Toyota, with a total investment of 150 million U.S. dollars. Copyright 2021 JCN Newswire. All rights reserved. (via SEAPRWire)

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Global collective action, people on the ground needed to fight climate change: Grace Fu

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3 minutes

SINGAPORE - Collective and committed global action is needed to overcome climate change. And, in South-east Asia, countries must work together to realise sustainability goals as the region goes about recovering from the Covid-19 pandemic, said Minister for Sustainability and the Environment Grace Fu on Saturday (May 22). She also urged participants at an annual youth forum, by non-profit organisation Global Compact Network Singapore, to start engaging in sustainability activism as individuals on the ground. They can then move on to influencing social norms in the community, before joining national and international initiatives. In opening remarks delivered virtually, Ms Fu noted several ways Singapore is contributing to regional efforts, such as by convening the first special Asean ministerial meeting on climate action in 2018. Singapore has also committed $5 million over five years through the Asean Specialised Meteorological Centre - based in the Republic - to aid weather forecasting and haze monitoring. Ms Fu pointed to an Asean Power Grid being explored in the long run, which would enable electricity to be traded freely between member states - and help the region reach its aspi...

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When debt makes climate change worse

elean
5 minutes

(NYTIMES) - How does a country deal with climate disasters when it is drowning in debt? Not very well, it turns out. Especially not when a global pandemic clobbers its economy. Take Belize, Fiji and Mozambique. Vastly different countries, they are among dozens of nations at the crossroads of two mounting global crises that are drawing the attention of world financial institutions: climate change and debt. They owe staggering amounts of money to various foreign lenders. They face staggering climate risks, too. And now, with the coronavirus pandemic pummelling their economies, there is a growing recognition that their debt obligations stand in the way of meeting the immediate needs of their people - not to mention the investments required to protect them from climate disasters. The combination of debt, climate change and environmental degradation "represents a systemic risk to the global economy that may trigger a cycle that depresses revenues, increases spending and exacerbates climate and nature vulnerabilities", according to a new assessment by the World Bank, International Monetary Fund (IMF) and others. It comes after pressure from academics and advocates for lenders to address ...

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Fujitsu Updates Group Environmental Plan to Achieve Validation of 1.5 degrees Celcius – Aligned Emissions Reduction Targets, Contribute to Sustainable Future

ruth
4 minutes

TOKYO, Apr 16, 2021 - (JCN Newswire via SEAPRWire.com) - Fujitsu today announced a significant update to its greenhouse gas reduction targets as efforts towards decarbonization gain increasing urgency and accelerate throughout the world. To contribute more aggressively to the resolution of environmental issues confronting humanity, Fujitsu revised its emissions reduction targets for its business sites in FY 2030 from 33% to 71.4% below FY 2013 levels. On April 15, these were successfully validated as 1.5 degC-aligned targets by the Science Based Targets initiative (SBTi, 1).Fujitsu simultaneously issued the "Fujitsu Group Environmental Action Plan (Stage X)," which will guide stakeholders throughout the global organization in contributing to the achievement of its environmental targets for FY 2021 and FY 2022.Fujitsu's Environmental Action Plan demonstrates its ongoing commitment to proactively reducing the environmental footprint of its business activities, including throughout its supply chain, and will continue contributing to the decarbonization of customers and society, adapt to mitigate the harmful impacts of climate change, and resolve pressing environmental and social issue...

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Recharging Asean’s approach to climate transition

elean
1 minute

SINGAPORE - Covid-19 has had a devastating toll on Asean economies but it's easy to forget that another crisis looms - climate change - to which the region is deeply vulnerable. While all Asean members have made Paris pledges, implementation has not been easy with huge infrastructure and funding gaps. If nothing is done, the economic impact of climate change will be profound - estimated GDP per capita loss for Asean members range from 0.7 per cent to 8.5 per cent by 2100. And this doesn't even take into account societal or environmental impacts. Please subscribe or log in to continue reading the full article. Get unlimited access to all stories at $0.99/month Latest headlines and exclusive stories In-depth analyses and award-winning multimedia content Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months* Subscribe now *Terms and conditions apply.

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Foreign Minister Vivian Balakrishnan and US Secretary of State Antony Blinken discuss Asean cooperation, Covid-19, Myanmar situation in phone call

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2 minutes

SINGAPORE - Singapore Minister for Foreign Affairs Vivian Balakrishnan and his US counterpart Antony Blinken discussed Asean cooperation, Covid-19, climate change and Myanmar situation on Wednesday (Feb 10) as they reaffirmed bilateral ties in a telephone call. Dr Balakrishnan congratulated Mr Blinken on his appointment as Secretary of State. "They reaffirmed the excellent and longstanding relations between Singapore and the United States, and the strong and growing cooperation in defence and security, as well as in trade and investment. "They also agreed to collaborate closely on the global response to Covid-19 and climate change," Singapore's ministry of foreign affairs said in a statement. Dr Balakrishnan welcomed the Biden administration's efforts to engage with the region and strengthen cooperation with Asean and other regional partners. "They also agreed to collaborate closely on the global response to Covid-19 and climate change," the statement added. Mr Ned Price, US State Department spokesman said in a separate statement confirming the phone call: "Secretary Blinken and Foreign Minister Balakrishnan reflected on the enduring friendship and shared interests between our nati...

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NEC named to the CDP “A List” for advanced Climate Change and Water Security initiatives two years in a row

ruth
2 minutes

TOKYO, Dec 9, 2020 - (JCN Newswire) - NEC Corporation has been recognized again for leadership in corporate sustainability by global environmental non-profit CDP(1), securing a place on its prestigious "A List" for tackling climate change, as well as acting to protect water security.In 2017, NEC announced its climate change policy guidelines for 2050(2), aiming to reduce CO2 emissions from its direct business operations to become carbon neutral by 2050. In 2018, NEC received Science Based Targets (SBT) certification(3), and is working to expand the use of renewable energy and reduce CO2 throughout its supply chain. NEC also utilizes its ICT technologies to promote climate change mitigation and adaptation in collaboration with a wide range of customers.In addition, NEC is reducing the amount of water used at each of the company's sites, and is supporting disaster countermeasures around the world through the use of AI and IoT.(1) CDP is an international non-profit organization in which investors, companies, cities, nations, and regions operate a global information disclosure system to manage environmental impacts. In fiscal 2020, more than 9,600 companies worldwide disclosed informat...

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Fujitsu Earns Top Rating in CDP Climate Change, Water Security

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2 minutes

TOKYO, Dec 9, 2020 - (JCN Newswire) - Fujitsu Limited today announced that the Fujitsu Group has been selected for the CDP's A List for both climate change for the fourth year in a row and water security for the second year in a row, earning the highest rating in the CDP's evaluation of corporate activities in response to climate change and water security.The Fujitsu Group aims to create a prosperous and sustainable society by enacting its medium- to long-term environmental vision, the Fujitsu Climate and Energy Vision, and contributing solutions to societal and environmental issues. Fujitsu plans to decarbonize its own business by 2050 using ICT, while working to mitigate and adapt to the impacts of climate change and to prevent and mitigate disasters as well as conserve water resources, through its business activities. CDP is an international non-profit organization that manages global disclosure for companies' activities relating to climate change, forests, and water security, on behalf of institutional investors that have total investment assets in excess of $106 trillion(As of 2020/12/7). The survey evaluates companies' outstanding efforts to demonstrate leadership in disclosi...

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Climate change to pose risks to financial systems: MAS

elean
4 minutes

SINGAPORE - The Covid-19 pandemic, which has reduced the earnings of many companies and the incomes of numerous households, dominates daily news. Yet there is another long-term event that continues to present significant risk to financial systems and their customers, and that is climate change, said the Monetary Authority of Singapore (MAS) in its annual Financial Stability Review that was released last Tuesday (Dec 1). To address this, regulators and financial institutions need to assess how climate change will impact them, the authority added, noting that there is growing recognition of the risk to such attached to sustainability-related issues. "Climate change has become the defining challenge facing both present and future generations. From shifting weather patterns to rising sea levels, the risks posed by climate change are both multi-faceted and pervasive in their manifestation," it said. "The financial system plays a key role in catalysing this global response. Financial markets are pivotal in the allocation of capital and resources throughout the wider economy." It added that the financial system will be vital in enabling economies to make a successful transition to a more ...

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Green finance seen as key in Singapore’s climate change fight

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4 minutes

To ensure economic growth and fight climate change at the same time, Singapore needs to leverage green finance and mobilise capital for low-carbon investments, said Minister of State for Sustainability and the Environment Desmond Tan yesterday. And to succeed in its efforts, the country also needs to plan ahead for a smooth transition to low emissions and build resilience against environmental shocks, he added. "Covid-19 has accelerated pre-existing trends, including rising protectionism, rising inequalities and global warming," Mr Tan, who is also Minister of State for Home Affairs, noted in his speech at the European Union-Singapore Dialogue on climate change. But it has also slowed activities. "Companies should use this period to consider implementing energy efficiency improvement projects so that they can be more cost-competitive and emerge stronger from this crisis," he said. To implement these, they can tap the Economic Development Board's Resource Efficiency Grant for Energy as well as the National Environment Agency's Energy Efficiency Fund, Mr Tan added. Pointing to green finance, he said it is a "critical enabler of green growth" that allows companies to support sustainab...

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Green finance among options needed to address economic, climate objectives: Desmond Tan

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3 minutes

SINGAPORE - To address economic and climate objectives at the same time, Singapore needs to adopt a three-prong approach that includes leveraging green finance to manage the risks of climate change and mobilise capital for green and low-carbon investments. Speaking at the European Union (EU)-Singapore Dialogue on climate change on Thursday (Nov 5), Minister of State for Sustainability and the Environment Desmond Tan said that to succeed in its efforts, the country also needs to plan ahead for a smooth low-carbon transition and build resilience against environmental shocks. "Covid-19 has accelerated pre-existing trends, including rising protectionism, rising inequalities and global warming. "The onus is on us to continue to look beyond the immediate Covid-19 crisis and prepare for these long-term challenges, notably climate change. "This has always been Singapore's approach to development - to look and plan long term," said Mr Tan. He said the Government's strategy sends a powerful signal for other stakeholders to act, especially the private sector and investors. "If we all develop and implement long-term decarbonisation plans, it will facilitate the shifts needed for the transition...

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Sustainability should be put at the core of post-pandemic recovery plans: Grace Fu

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3 minutes

SINGAPORE - As Singapore revives its pandemic-hit economy, sustainability and the fight against climate change must be a fundamental driver in post Covid-19 recovery plans, said Minister for Sustainability and the Environment Grace Fu on Wednesday (Nov 4). "We are at a significant juncture, where we have the opportunity to put sustainability at the core of our recovery plans and policies, and change the way we produce and consume," the minister added. She said the country should continue strengthening its resilience against future shocks, including the "existential challenge" of climate change, supply chain disruptions and other public health threats. Ms Fu was delivering her keynote address at the Singapore Dialogue on Sustainable World Resources, organised by the Singapore Institute of International Affairs. Even as Singapore works hard to "build back better" in the face of an expected economic contraction of five to seven per cent this year, Ms Fu outlined how this can be done in a sustainable and inclusive manner. This includes driving climate action, catalysing innovation, and persisting with zero waste goals. She cited how Singapore submitted its enhanced plan for emissions r...

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GIC looks to integrate climate change into investment portfolio

elean
3 minutes

SINGAPORE (THE BUSINESS TIMES) - Sovereign wealth fund GIC will integrate climate change into its investment portfolio, a report noted today (Oct 14). This will involve evaluating the way long-term capital market assumptions are affected by climate change drivers and under different climate change scenarios. GIC is also ensuring that its investment teams integrate climate change considerations into their processes. Analysts tap environmental metrics to identify risks and conduct further due diligence and engagement with companies. Ms Rachel Teo, who heads the futures (research) unit and is senior vice-president of economics and investment strategy, said in the report that GIC will not just bluntly divest firms with high-carbon intensity. "We would instead seek to engage and understand if the companies have plans to transit to a lower carbon business model, and will support them in their transition path towards long-term sustainability," she wrote. The focus for GIC will also be on areas such as renewable energy, green buildings, sustainable food and agriculture, electric mobility and other emerging technologies that will facilitate a decarbonisation of the global economy. This stra...