On Mar 30, Boston Consulting Group (BCG) announced the launch of BCG’s first dedicated climate and sustainability hub in the region, named the Climate and Sustainability Hub for Innovation in Asia.
The launch of the hub is timely as climate and sustainability issues have become increasingly at the centre of attention in recent years, both regionally and internationally. In Singapore, climate and sustainability ranks high on the agenda for the Singapore Government, thereby seeing the launch of the Singapore Green Plan 2030 in 2021, coupled with a series of developments and initiatives with the final end goal to achieve a target net-zero emissions by or around the mid-century.
The hub was launched at BCG Singapore by Grace Fu, Singapore’s Minister for Sustainability and the Environment, Neeraj Aggarwal, Chairman of BCG Asia-Pacific, and Jaime Ruiz-Cabrero, Head of BCG South East Asia.
At the launch, Fu underscored the threat that climate change presents to the world. With Singapore’s determination to work towards a greener future, Fu says: “Everyone has a role to play in advancing sustainable development and achieving sustainable outcomes. To realise Singapore’s net-zero ambitions and transition towards a low-carbon future, we need forward-looking corporations and responsible communities to do their part.”
The hub is also supported by the Singapore Economic Development Board (EDB). “As we move towards a greener future under the Singapore Green Plan 2030, the Climate & Sustainability Hub for Innovation in Asia will play a pivotal role in our efforts to create new sustainability solutions, develop local talent and foster new partnership opportunities,” says Dawn Lim, Vice President of Commercial and Professional Services for EDB.
Adopting a multifaceted approach, the hub in Asia covers four distinct strategic areas.
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Firstly, it aims to power green ventures and investments, that involves partnering with corporates to invest in, co-build, and scale sustainable businesses through BCG Green Ventures. Secondly, it is working toward building cutting edge capabilities by bridging climate experts to deliver technical capabilities and tailored solution to scale the hub.
The hub’s goal is also to enrich partnerships to maximise impact through collaboration and building an ecosystem of partnerships and collaborations. Lastly, its goal is to enhance skillsets for tomorrow by supporting climate and sustainability talent development locally and in the region.
Several similar programs have been set in place in the past in Singapore as well, with the launches of McKinsey & Company’s sustainability innovation hub for Asia, Vivid and PwC’s Asia Pacific Centre of Sustainability Excellence (CSE) during end 2021. However, Ruiz-Cabrero emphasises that BCG’s hub is unique in its partnerships focus, which dives into working with a different variety of industries from climate investors to governments to achieve effect in many areas.
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“We [particularly] want to create a strong ecosystem of a wide range of partnerships across a variety of sectors to maximise the impact our climate and sustainability hub can make,” he says.
Adding on, Aggarwal says, “leveraging Singapore as the hub, the Climate & Sustainability Hub for Innovation in Asia brings together the best of BCG's global expertise and offering to the APAC region, to drive climate action and lead change for the future through partnerships and supporting local talent development.”
Photo: BCG
