Cover Photo: Facebook/HSBC
Photo: Facebook/HSBC
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From HSBC to Starhub, here are the companies making the biggest waves in Asia when it comes to sustainability
Sustainability has been a trending topic of late, especially after Deputy Prime Minister Lawrence Wong announced that the fovernment would issue SG$35 billion of green bonds by 2030 to fund public sector green infrastructure projects in the Budget 2022.
Proceeds from these bonds will be used to finance costs associated with the Singapore Green Plan 2030, said the Ministry of Finance (MOF) and the Monetary Authority of Singapore (MAS) in a media release.
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This is an important step forward as Singapore pushes ahead in becoming more sustainable and in taking significant strides to help the world in its attempt to reverse its carbon footprint.
With sustainability at the forefront of everyone’s mind now, we spotlight five companies in Asia that are making big moves towards saving the environment around us.
1. HSBC
As one of the biggest banks globally, HSBC has always played a leading role in committing to a sustainable future, particularly in Singapore.
Locally, HSBC is committed to a net-zero future and it does this by investing in a sustainable future by helping its retail customers understand the importance of sustainable investing.
HSBC also provides sustainable finance solutions to companies and supports their consumers in maintaining a sustainable lifestyle through education and partnering with eco-conscious restaurants.
One of its most successful initiatives to date has been its collaboration with One Tree Planted, a non-profit organisation with a focus on global reforestation. In an attempt to empower its customers to contribute to a low carbon future, HSBC has committed to planting up to 10 trees in the region for each transaction made by customers towards sustainable banking and investment solutions.
The trees will be planted in Malaysia, India or Indonesia and besides contributing to the growing wildlife in the area, it will also help reduce air pollution, encourage rainfall, guarantee clean water and mitigate global heating.
This aligns directly with the bank's key strategic priority to become a net-zero bank by 2050.
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2. Capitaland
As one of Asia’s largest diversified real estate groups that is present in over 220 cities and 30 countries, Capitaland has made great strides to reduce its carbon emissions significantly. In fact, Capitaland is the first real estate company in Asia besides Japan to have its carbon emissions reduction targets validated by a Science-Based Targets initiative for a 1.5°C scenario.
It is also consistently crowd-sourcing the world for the best sustainability innovations through the ‘CapitaLand Sustainability X Challenge’. They focus on reducing carbon transitions, water conservation, waste management, and the circular economy in their efforts toward its 2030 sustainability master plan.
3. Samsung
Samsung is one of the biggest phone companies globally and it was founded in South Korea.
The electronics giant is a massive supporter of the sustainability movement and it actively carries out its own five sustainability pillars. These include its pledge to the environment, its employees, communities, digital responsibility, and its attempt to maintain supply chain sustainability through its business practices.
Recently, Samsung announced Galaxy for the Planet, a new sustainability platform for its Mobile Communications Business that outlines a set of targets they aim to reach by 2025.
Some of their commitments as part of this plan include eliminating the use of all single-use plastics from product packaging and reducing all smartphone chargers to below 0.005W.
4. City Developments Limited
City Developments Limited has a massive real estate network spanning 29 countries and as such, has created a broad scope for impact as it works towards becoming a greener company, saving energy and reducing its production of emissions.
City Developments Limited is also the first Singapore firm to focus on conservation during construction while ensuring that older buildings are updated and enhanced to meet modern sustainable standards.
The company also uses solar technology and building materials while supporting young startups locally who are working on sustainable solutions in the building industry.
5. Starhub
Founded in 1998, Starhub is a familiar name to most as Singapore’s leading info-communications and entertainment services. However, did you know that it is also one of Asia’s most sustainable telecommunications companies?
Over the years, Starhub has made incredible strides to incorporate sustainability and green practices into everything they do.
From reducing their energy and water consumption to tackling electronic waste by pioneered a nationwide e-waste recycling programme called Recycling the Nation’s Electronic Waste (Renew), Starhub has paved the way for responsible consumption.
The Renew programme was the first programme Singapore saw of this nature and filled an incredible gap in recycling. The programme ended last June after the government started a new Extended Producer Responsibility (EPR) e-waste management initiative that took Renew’s place. Starhub continues to support the initiative though by providing EPR e-waste recycling bins in many of its stores.
Thanks to its many efforts at recycling and planting trees while ensuring that they meet its sustainability goals, Starhub was recognised as the World’s Most Sustainable Wireless Telecommunication Service Provider as ranked in the 2022 Corporate Knights Global 100 in May this year.
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Camillia Dass is the digital writer for Tatler Singapore.
