ESG

Landmark research from Global Reporting Initiative (GRI) and the National University of Singapore (NUS) Business School has, for the first time, shed light on how companies in the ASEAN region are addressing their obligations for climate-related reporting.

Analysis of the top 100 largest listed companies in six Southeast Asian nations – Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam – finds 70% (420 companies) published climate-related disclosures in 2020/2021. Climate Reporting in ASEAN: State of Corporate Practices analyzes those 420 businesses, focusing on their approach to reporting, materiality, risks and opportunities, governance, strategy, targets, and performance.

Key findings of the research include:

• Most of the companies (84%) report their material topics on climate change, yet only one quarter (26%) describe long-term factors related to their climate risk strategy;
• 62% of companies disclose their greenhouse gas emissions (ranging from 5% in Vietnam to 80% in the Philippines);
• A majority of businesses (56%) identify climate-related opportunities, compared with less than half (47%) sharing plans on risk mitigation;
• Three-in-four companies (74%) disclose metrics on climate-related performance, however, 46% do not share how targets are discussed;
• Two-third (68%) assign climate responsibilities to a sub-committee, while 8% link management remuneration to climate

In terms of climate reporting:

• A significant majority of sampled companies (85%) use the GRI Standards, ranging from Singapore (99%) to Vietnam (65%);
• In the six markets, reporting using other frameworks is low: 19% use TCFD, 16% apply IIRC, and 14% use SASB;
• At 76%, reporting on the Sustainable Development Goals is widespread by the companies in all six countries, with those from Thailand (95%) and Indonesia (93%) leading the way.

This report was originally published in https://globalreporting.org/news/news-center/asean-companies-get-serious-about-climate-change/

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By Alton Wong, Executive Director, Co-head of Sustainability Services, Greater China, Cushman & Wakefield

For businesses in carbon-intensive industries, the challenge of reducing Scope 1 emissions (direct emissions from owned or controlled sources) can be great.

For service-based organizations, Scope 1 emissions may represent only a single-digit percentage of their entire carbon output. In these cases, the majority of their emissions are Scope 3 – they originate further up or down their supply chain through the activities of their suppliers.

So how do service businesses, like financial institutions and consultancies, reduce what they cannot control?

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An increasing number of institutions, especially financial institutions, have started to disclose climate-related risks and opportunities in alignment with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).

MSCI ESG Research LLC data and metrics can be used at the portfolio, sector and security level to support reporting on the four pillars of the TCFD recommendations: governance, strategy, risk management and metrics and targets.

This report was originally published in https://www.msci.com/www/research-paper/tcfd-aligned-climate-risk/03306029396

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With the pandemic now well into its third year, most office occupiers in Asia Pacific are displaying a clear shift towards embracing real estate strategies that recognise that COVID-19 is here to stay for the long-term.

Among these approaches are a sharper focus on wellness and sustainability in the workplace, with CBRE Asia Pacific’s 2022 Spring Office Occupier Survey finding that most tenants are implementing or at the very least considering a range of related initiatives.

This ViewPoint by CBRE Research expands upon the survey findings and identifies the main challenges and priorities facing landlords and investors as they look to respond to growing occupier demand for green buildings, leases and technologies.

 

This report was originally published in https://www.cbre.com/insights/viewpoints/asia-pacific-viewpoint-landlords-and-tenants-must-collaborate-to-achieve-sustainability-goals-jul

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