ESG | Khoo Teng Chye appointed ULI Asia Pacific chair

Dear Readers,

If a recent survey by asset manager Fidelity International is to be believed, there’s actually a fair bit of catch-up to do by investors here in Singapore. From the findings of this regional survey, investors here are the least aware when it comes to ESG investing: Just 26% of the 1,327 respondents here said they’ve heard of this term. For many of us who have been discussing, reporting and promoting ESG efforts, this survey result is a sobering reminder that a lot more needs to be done.

In contrast, investors in China are the most aware, according to the survey. Perhaps, given how many Chinese citizens have been living in smog-filled cities and subjected to a constant stream of anti-pollution propaganda, the findings should not be totally unexpected.

But all the focus on ESG cannot be sustained over the long term without impressing on the newer generation of industry practitioners more of what needs to be done. The learning has to start early and be taught by the right people.

Long-time public servant Professor Khoo Teng Chye, who is now on the faculty of NUS’s School of Design and Environment, has taken on another role. He has been appointed as chair of the Urban Land Institute (ULI) Asia Pacific region for a three-year term. Over the years, Khoo used to head, at various points in time, PUB; Urban Redevelopment Authority; PSA Corp and Mapletree Investments.

At ULI, Khoo has three priorities: decarbonising the real estate sector and targeting net zero, educating the next generation of diverse real estate leaders, and increasing housing attainability in communities around the world.

Some large organisations are also taking matters into their own hands. OCBC Bank, for one, has announced it is stepping up the training of ESG subject matter experts. New skills are needed in areas ranging from sustainable business development, sustainable product development, sustainability research, ESG assessment, ESG reporting, ESG regulatory and compliance.

In the meantime, as training for the new generation of ESG proponents goes on, significant market leaders are already influencing the agenda in their own ways. Leading asset manager Pimco, for example, is not only an investor, but actively guiding companies on how they can up their ESG quotient. Check out, for example, how Pimco is helping Chanel stay fashionable with green bonds.

Chan Chao Peh
Editor, The Edge Singapore