Business Times reported that according to the EY Future Consumer Index, consumers globally are becoming more socially conscious and making sustainable choices in how they spend their time and money in a post-pandemic world. For businesses and manufacturers, this shift in consumer sentiments deals another blow to their supply chain transformation plans, in addition to the disruptions arising from the pandemic and global geopolitical events. Prior to this growing strategic imperative for sustainability, companies may have attempted to hop onto the sustainability bandwagon as a gesture of support toward calls for greener growth while meeting minimum sustainability compliance requirements. Governments are also driving regulations and policies that steer businesses toward more sustainable business practices. For example, the Singapore Green Plan 2030 sets a mission for Singapore to transit to a low-carbon economy and achieve its long-term net-zero emissions goal "as soon as viable".

 

To meet the requirements of sustainable sourcing, organisations should ensure that their third-party vendors and their suppliers meet sustainability standards. Leading practices in sustainable sourcing focus on building trust with stakeholders, deepening supplier relationships, reducing business and reputational risks, and improving productivity. Organisations must be able to articulate clear standards on sustainability and establish the risk profiles of suppliers and categories. They should also review their category strategies - a means to drive sales of a specific product group - in this case, one that promotes sustainability. Transforming the traditional supply chain into a sustainable one will not be easy, and organisations will invariably face challenges. Adopting the right mindset and attitude towards sustainability - viewing it as an opportunity for growth instead of a burden - is key. The case for building a sustainable supply chain is clear. Organisations that embed sustainability in their supply chains can reduce costs, increase productivity, innovate, differentiate and improve societal outcomes.

 

Business Times published a commentary by Mark Micallef, senior vice president and managing director of Asia-Pacific at Anaplan, on why Asia must adapt to keep its global supply chain crown. The writer said that in ancient times, the cost of moving goods determined the production and distribution reach of a product. So, products made in a particular market found their way to the end consumer linearly across trade routes such as the Silk Road or the Spice Route. A truly international production network came into existence much later with advances in transportation technology, and due to the industrial revolution. Among the key innovations was ‘containerisation’ and markets in Asia such as Singapore and Hong Kong recognised its potential and built large new facilities, establishing themselves as major ports and clearing houses. 

 

Over the past decades, with unprecedented levels of production, shipping, and trade, not to mention rapidly increasing consumption and purchasing in recent years, Asia firmly established its position as the supply chain capital of the world. However, the global pandemic sent shockwaves through supply chains across the region. It upended distribution networks and exposed inherent vulnerabilities in the supply chain links, effectively straining regional economic growth. This has forced organisations to rethink how they operate, where they produce their products, how they move them, and what factors they build into their supply chain to ensure greater resilience. As an important supplier of parts and intermediate goods, the Southeast Asia region has been deeply affected. North Asia too has not been insulated from the impact because of their dependence on the Southeast Asia region. The writer stated that businesses rethinking supply chains presents a mortal risk to Asia’s crown. There is a real threat of global businesses moving their production centres closer to home to avoid exposure to such trade disruptions, bypassing Asia in the process. The writer added that Asia must in fact embrace complexity in the supply chain, giving businesses more options and opportunities to succeed and deter them from thinking about exit strategies for the region. Investing in scenario forecasting, risk mitigation, and leveraging real-time actionable insights can potentially tip the scales back in Asia’s favour.

 

Straits Times reported that the foremost challenge facing a global tourism recovery is ensuring the travel sector can get the labour it needs, industry and government leaders said at a panel discussion on 23 May, as the annual World Economic Forum kicked off. Singapore Transport Minister S. Iswaran, who was one of the panellists, noted that the operational needs of airports around the world have shot up significantly in recent times, but getting the hands needed to keep things going smoothly has been an issue. Marriott International chief executive Anthony Capuano said for the sector's manpower needs to be met, confidence in its long-term trajectory - and its viability for forging lasting careers - has to be rebuilt. Minister Iswaran noted Singapore has, in the space of a few weeks, doubled traveller volume to the Republic, which is now at roughly half of pre-pandemic levels. While the growth momentum for travel has been much stronger than expected, manpower issues and resource constraints are going to bite, he said. 

 

Panellists said that while the pandemic had severely impacted the sector - roughly one in five jobs lost globally due to COVID-19 was in travel and tourism, with more than 60 million of them lost in 2020 alone - a bright spot is the rapid adoption of technology both by guests and the industry. This includes more bookings going online, merchants digitising and now accepting contactless payments, as well as the automation of a lot of menial tasks partly out of necessity, said Ms Ruzwana Bashir, CEO of experiences booking platform Peek.com. Governments have had to innovate to rejuvenate travel, said President of the Dominican Republic Luis Rodolfo Abinader Corona and Saudi Arabia's Assistant Minister for Strategy and Executive Affairs in Tourism Haifa Al Saud, two others on the panel discussion. Mr Abinader, for instance, said focus groups organised by his government found that there was clear demand by travellers keen to visit the Dominican Republic, but who were afraid of catching the virus abroad.

 

Read more: Here

Straits Times reported that the war in Ukraine, as well as the COVID-19 pandemic and the economic rebound in its aftermath, significantly disrupted energy transition efforts. This has left the world in one of the most severe energy crises since the 1970s, said the World Economic Forum (WEF) in a new report titled Fostering Effective Energy Transition 2022. The pace of energy transition needs to be supercharged for the world to keep to its sustainability goals, it noted. WEF, in its latest energy transition report, called for urgent action by both private and public actors to ensure a resilient transition. This “urgency for countries to accelerate a holistic energy transition is reinforced by high fuel prices, commodities’ shortages, insufficient headway on achieving climate goals and slow progress on energy justice and access”, it said. 

WEF’s report detailed key recommendations for governments, companies, consumers and other stakeholders on measures to advance energy transition. Countries will need to prioritise efforts to ensure a resilient energy transition and diversification of the energy mix, it stated. Most countries rely on just a handful of trade partners to meet their energy requirements and have a deficient diversification of energy sources, providing limited flexibility to deal with disruptions, said WEF. The report noted that of 34 countries with advanced economies, 11 rely on only three trade partners for more than 70 per cent of their fuel imports. More countries need to make binding climate commitments, create long-term vision for domestic and regional energy systems, attract private-sector investors for decarbonisation projects and help consumers and the workforce adjust, the report added.

Read more: Here

Straits Times reported that importing electricity generated by various renewable sources across South-east Asia is one way for nations in the region to meet their climate change targets in an affordable way, a new report by the International Energy Agency (IEA) has found. The Republic had earlier announced plans to import 30 per cent of its energy needs - or 4 gigawatts of electricity - by 2035. One way of doing so could be through ASEAN's regional power grid. Such power grids allow countries that may have a surplus of electricity from renewable sources like hydropower to trade with countries that lack these resources. Speaking to The Straits Times on Wednesday, IEA's chief energy economist Tim Gould said having an integrated power system across countries helps to bring down the costs of transitioning to a greener energy sector. 

"For a country like Singapore, being able to access energy supplies from low-carbon sources from its neighbouring countries through a regionally interconnected grid is very, very important, given the constraints on land that Singapore faces," he added. As each country has its own advantages in different renewable technologies - some in hydropower, geothermal, and others in wind, for instance - having a diverse mix of resources could help to reduce variability in factors such as weather conditions, said Mr Gould. IEA's report, Southeast Asia Energy Outlook 2022, also pointed out that institutional and contractual structures will also need to be adapted to facilitate multilateral cross-border power trade. The Energy Market Authority on Wednesday also unveiled "A Resilient and Sustainable Energy Future" as the theme for the SIEW conference, which will take place from Oct 25 to 28. It said in a statement that the theme reflects how the global energy community has accelerated the pursuit of a greener future.

Read more: Here

PESTECH International Berhad and Hydrogene De France SA have signed a memorandum of understanding to collaborate on green hydrogen production from hydropower plants in Cambodia and Malaysia.

Under the MoU, the parties will co-operate to develop works with respect to the projects in the region of Malaysia and Cambodia as an initial phase. HDF Energy will take the lead on the project development scopes and sizing.

PESTECH will act as local market liaison and coordinator. PESTECH will be given the first right of refusal for the engineering, procurement, construction and commissioning works on a project-by-project approach. The first right of refusal will depend on bankability criteria to be confirmed at a later stage by international and local lenders.

PESTECH said this collaboration “is expected to complement and align with the global transition for sustainable energy and net zero emissions in the power generation and rail electrification segments.”

The MoU is effective for three years.

The hydropower plants involved and their owning company were not named in the release.

HDF Energy develops hydrogen power plants to provide continuous or on-demand electricity from renewable energy sources, combined with high-power fuel cells.

PESTECH is a Malaysian integrated electrical power technology company. Its core business is the design, procurement, construction, installation and commissioning of high-voltage and extra-high-voltage substations, transmission lines and submarine power cable systems. 

For original article, please read here


https://www.powerengineeringint.com/
Source: Khmer Times

February 2022 Issue (link)
The world’s largest ASEAN-led Free Trade Agreement, the Regional Comprehensive Economic Partnership (RCEP), has entered into force on the 1st January 2022. The streamlined rules of origin (ROO) under the RCEP provides flexible options for the businesses to enjoy tariff concessions. Learn more about the competitiveness and benefits offered by the ROO under the RCEP in this bulletin.

April 2022 Issue (link)
RCEP further modernize the IP regime to enhance market confidence for business operating in the region. Learn more about the Intellectual Property Protection under the RCEP in this bulletin.