{"id":8965,"date":"2023-08-10T00:00:00","date_gmt":"2023-08-09T16:00:00","guid":{"rendered":"https:\/\/rgei-2.hellopomelo.space\/uncategorized\/bloomberg-sustainable-business-summit-2023-leading-with-urgency\/"},"modified":"2024-06-05T11:15:00","modified_gmt":"2024-06-05T03:15:00","slug":"bloomberg-sustainable-business-summit-2023-leading-with-urgency","status":"publish","type":"post","link":"https:\/\/rgei-2.hellopomelo.space\/id\/corporate\/bloomberg-sustainable-business-summit-2023-leading-with-urgency\/","title":{"rendered":"Bloomberg Sustainable Business Summit 2023: Leading With Urgency"},"content":{"rendered":"<p>The\u00a0Bloomberg Sustainable Business Summit 2023\u00a0held on 26 July 2023 in Singapore attracted more than 500 physical attendees and close to 1,000 virtual participants. The international panel of speakers, business leaders and investors discussed how they can drive innovation and scale best practices in sustainable business and finance. The event was also attended by Singapore\u2019s Minister for Sustainability and the Environment, Grace Fu.<\/p>\n<p><a href=\"http:\/\/www.rgei.com\">RGE<\/a>\u2019s Managing Director <a href=\"https:\/\/www.rgei.com\/about\/governance-leadership\/anderson-tanoto\">Anderson Tanoto<\/a> took part in a panel discussion titled <strong><em>\u201c<\/em><\/strong><em>Leading With Urgency<\/em><strong><em>\u201d<\/em><\/strong>, alongside Chartsiri Sophonpanich, President, Bangkok Bank; Panote Sirivadhanabhakdi, Group Chief Executive Officer, Frasers Property Limited; and Manish Pant, Executive Vice President, International Operations, Schneider Electric. Mark Wehling, Bloomberg Academy Director &amp; Co-Head, APAC Commercial, BloombergNEF, moderated the discussion.<\/p>\n<p>Anderson shared why going green is good for business, and the challenges he foresees as the world transitions to electrification and other sustainable energy sources.<\/p>\n<p><a href=\"https:\/\/www.inside-rge.com\/wp-content\/uploads\/2023\/08\/NNM_0715-scaled.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-large wp-image-10464\" src=\"https:\/\/rgei-2.hellopomelo.space\/wp-content\/uploads\/2024\/04\/NNM_0715-scaled.jpg\" alt=\"\" width=\"650\" height=\"432\" \/><\/a><\/p>\n<p><strong>Renewable energy and the supply chain in a net-zero world<\/strong><\/p>\n<p>One of the key topics discussed was the ongoing shift to electrification as an energy source. Anderson pointed out that by using electrification and digitisation as levers, we can do more, citing the positive impact that electrification can have on energy supply chains. An example is the construction of the <a href=\"http:\/\/woodfibrelng.ca\">Woodfibre LNG<\/a> facility in Canada by <a href=\"http:\/\/www.rgei.com\/our-business\/pacific-energy\">Pacific Energy<\/a>, a member of the RGE group of companies. The facility which will have an annual capacity of 2.1 million tons, will be using an electric-driven compressor instead of a gas-powered compressor. \u201cThis allows for a nine-fold reduction in\u00a0emissions, and we offset the remainder with nature-based solutions,\u201d he said.<\/p>\n<p>He added: \u201cGoing green isn\u2019t just about going green. It\u2019s simply great for business.\u201d Anderson highlighted RGE\u2019s efforts to decarbonise by adopting solar energy. \u201cRight now, the payback of going solar is less than six years, down from 12 or 13 a few years ago,\u201d he said, reiterating the increasing imperative that businesses have in implementing green measures into their value chain.<\/p>\n<p>However, he also urged business leaders to look beyond the part of the value chain they are in. He emphasised that: \u201cSustainability needs to be done as a whole supply chain \u2013 upstream, and all the way to consumers.\u201d<\/p>\n<p>As one of the world\u2019s leading resource-based manufacturing groups, RGE has been at the forefront of building and implementing sustainable practices throughout its supply chain.<\/p>\n<p><strong>The competing roles of electric and biofuels in energy<\/strong><\/p>\n<p>However, electrification may not always work. Anderson went on to share some of the challenges he foresees in the near future. He cited the aviation industry as an example. \u201cIt will be maybe another 10,15, 20 years before you see planes flying on electric batteries, because of the weight,\u201d he said. \u201cAnd that\u2019s where biofuels come in.\u201d<\/p>\n<p>There is an increasing regulatory push for sustainable aviation fuel (SAF) as a drop-in fuel, with Europe mandating a 2% blend starting in 2025, and a 1% increase every single year to 2030.<\/p>\n<p>\u201cWhat I like about biofuels is that they are readily available. The technology is there, and you can immediately implement and decarbonise existing machines,\u201d he said. He highlighted RGE\u2019s role in decarbonising the aviation industry, by utilising the large amounts of available agriculture waste and residue to produce sustainable aviation fuel. Mr Chartsiri Sophonpanich affirmed the usage of agriculture products in fuel production: \u201cIt also helps the farmers to be able to stabilise the prices of their products, which is good for them in the long term,\u201d he said.<\/p>\n<p><a href=\"https:\/\/www.inside-rge.com\/wp-content\/uploads\/2023\/08\/NNM_0625-scaled.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-large wp-image-10466\" src=\"https:\/\/rgei-2.hellopomelo.space\/wp-content\/uploads\/2024\/04\/NNM_0625-scaled.jpg\" alt=\"\" width=\"650\" height=\"432\" \/><\/a><\/p>\n<p><strong>The importance of industry stakeholder collaboration<\/strong><\/p>\n<p>As the conversation shifted to how multiple industries can better decarbonise their operations, Manish Pant highlighted the need for collaboration among stakeholders. \u201cIf we are committed to net zero, we need to make sure that our suppliers are embarking on this journey as well,\u201d he said. Panote Sirivadhanabhakdi, added that in order to succeed, stakeholders would need to have \u201cthe like-mindedness, and the alignment to sustainability\u201d.<\/p>\n<p>Underscoring the importance of collaboration, Anderson said: \u201cTo go fast, you go alone. To go far, you have to go together. But these days, we have to go far, and fast, together,\u201d he said.<\/p>\n<p>While some organisations may weigh in the risks and rewards when it comes to driving greener initiatives, he said: \u201cTo lead with urgency, we must form multiple collaborations, we have to invariably take some risks and move forward. Because not doing anything is definitely not an option.\u201d<\/p>\n<p>\u201cAs we transition to a greener world, there are going to be risks and trade-offs. There\u2019s no perfect world out there. We just have to make decisions and move forward,\u201d he concluded.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The\u00a0Bloomberg Sustainable Business Summit 2023\u00a0held on 26 July 2023 in Singapore attracted more than 500 physical attendees and close to 1,000 virtual participants. The international panel of speakers, business leaders&#8230;<\/p>\n","protected":false},"author":4,"featured_media":8969,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6,108,24,7],"tags":[],"class_list":{"0":"post-8965","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-corporate","8":"category-rge","9":"category-rge-updates-and-latest-news-from-the-group","10":"category-sustainable-operations"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Bloomberg Sustainable Business Summit 2023: Leading With Urgency - RGE (Royal Golden Eagle) Group<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"id_ID\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bloomberg Sustainable Business Summit 2023: Leading With Urgency - RGE (Royal Golden Eagle) Group\" \/>\n<meta property=\"og:description\" content=\"The\u00a0Bloomberg Sustainable Business Summit 2023\u00a0held on 26 July 2023 in Singapore attracted more than 500 physical attendees and close to 1,000 virtual participants. 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