Sustainability Accounting addresses the need of business leaders to understand how sustainability will impact their ability to create value and provide stakeholders with accurate sustainability information that is comparable over time and with other companies in the same industry. A company's sustainability performance is closely connected to the P&L and can be translated into item lines related to access to market, access to capital, operational savings, and intangible assets such as branding and reputation.
Voluntary sustainability reporting is becoming a mandatory part of the Annual Financial Reporting and enforceable by law in many jurisdictions. Sustainability-related, forward-looking information has become crucial for investors and governments, and the role of CFOs and accountants will change in a new era of Accounting for Accountability.
The CFO and finance function agenda is evolving from a pure 'accounting for the balance sheet' to 'accounting for the business and value creation'.
Sustainability accounting is about capturing meaningful non-financial information for both internal decision-making and external reporting. Reliable and comparable data is the basis for accountability and it is fundamental to align the sustainability accounting with established frameworks and standards. It is important to follow reporting principles and conceptual foundations to build trust and comparability over time and within the industry.
Sustainability reporting is moving from a fragmented landscape of voluntary frameworks and standards (GRI, SASB, TCFD, CDP, IR, etc.) to mandatory reporting enforceable by law in the respective jurisdictions. To understand the current evolution and the role of the voluntary reporting frameworks in the emerging mandatory reporting landscape, we start with an overview of the most commonly used frameworks. For reference:
4,850+
companies support TCFD in 2023, a +24% rise compared to 2022
(fsb)
4,000+
sustainability professionals around the world enrolled in courses in 2021 through the GRI Academy
(GRI)
- The Sustainability Disclosure Standards study guide
- Read here to better understand the difference between Framework and Standard
Industry-specific standards:
SASB standards (Sustainability Accounting Standards Board)
Climate change related frameworks:
- Task force on Climate-related Financial Disclosures (TCFD) and its disclosure platform through CDP questionnaire (Climate Change - CDP)
- CDSB framework (Climate Disclosure Standards Board)
Ecoact:
At Tulyā, we are accredited sustainability consultants holding certifications in GRI, SASB and TCFD (now IFRS-ISSB), and ISO 14064 GHG Lead Verifiers, alongside being Singapore Certified Management Consultants. We are dedicated to driving sustainable business development across industries through Sustainable Management Accounting.
We help MNCs with:
We help SMEs with:
Sustainao supports companies in their sustainability journey by building an impactful strategy, embedding sustainable practices across operations, and reporting performance to stakeholders.
Our sustainability consulting services are designed in a continuous improvement process:
SustainableSG was started in September 2018 to accompany companies, non-profit entities and government agencies to review and implement effective and sustainable corporate strategies. Our services include:
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ACTIVATE - DESIGN - ACCELERATE. Our expert consulting services and trainings help business leaders understand the complexities of sustainability, consider climate- and nature-related risks and opportunities to make informed decisions and alleviate the administrative burdens of:
We work directly with SMEs or collaborate with other sustainability consulting companies on specific projects. We are actively involved in networks of sustainability professionals who share knowledge with public and educate other professionals to bring awareness and accelerate the transition in Singapore and worldwide (incl. The Matcha Initiative, Climate Fresk, etc.).
Our unique strength stems from understanding sustainability from the risk management perspective, creating a business case and using financial reasoning to adopt sustainable business practices and decarbonize.
Operates in: Singapore
Asuzero is a comprehensive platform for enterprises aiming to achieve net-zero and combat the global climate crisis. Our unique value proposition lies in offering a one-stop solution that educates and guides customers on their decarbonization journey. We provide bespoke consulting services to help organisations understand their carbon footprint and greenhouse gas (GHG) emissions across all three scopes.
By addressing Scope 3 emissions, we assist customers in engaging with their vendors and conducting assessments to accurately calculate and offset their emissions.
Furthermore, our platform offers Life Cycle Assessment (LCA) and Supply Chain functions to help manage sustainability performance and track progress towards sustainability goals.
As a certified provider by CDP and TCFD, we are authorised to issue sustainability ratings for companies and products, highlighting their level of sustainability performance. Asuzero enables enterprises to take decisive action, drive momentum, and work towards a sustainable, low-carbon future.
Operates in: Singapore, Japan, Thailand, Hong Kong
Zuno is a pioneer in decarbonisation, carbon & ESG management. Our tech platform helps leading organization measure, reduce and report their carbon emissions and ESG performance. Powering you towards your sustainability goals, one step at a time.
As sustainability reporting becomes mandatory in many parts of the world, preparing for compliance is critical for listed companies and SMEs alike as the latter are part of the scope 3 emissions of listed companies. Risks and opportunities identified by listed companies in relation to their value chain partners will need to be addressed.
The new regulations outlined below build on the voluntary frameworks previously outlined and will be implemented with local adaptations in terms of effective dates, reporting relief, third party assurance requirements etc.
INTERNATIONAL: The International Sustainability Standards Board (ISSB) aims to meet investors' need for reliable and comparable information on financial materiality. It was established by International Financial Reporting Standards (IFRS) 2021, which creates a globally binding baseline that integrates non-financial information into financial reporting and standardises sustainability information. They published their sustainability standards IFRS S1 - General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures in July 2023. Many jurisdictions around the world have already committed to aligning their reporting requirements for listed companies and large private companies. Other standards are in development.
SINGAPORE: The Monetary Authority of Singapore (MAS), ACRA and SGx have announced that they will align with IFRS S1 and S2 for data, definitions and disclosures. At the beginning of 2024, the Singapore Exchange metrics consist of 27 core sustainability metrics based on GRI and TCFD, which listed companies are expected to report on a comply-or-explain basis. The communicated effective date for listed companies is FY2025 and for large private companies with a turnover > SGD1 billion, FY2027.
EUROPEAN UNION: The Corporate Sustainability Reporting Directive (CSRD) requires companies to disclose their material impacts, risks and opportunities in relation to certain ESG issues. EFRAG was appointed as a technical advisor to the European Commission in developing the European Sustainability Reporting Standards (ESRS), which outline the reporting requirements in 12 standards. The standards cover 'double materiality' and draw heavily on the principles and framework of the Global Reporting Initiative (GRI). For effective dates and applicability thresholds, please consult the European Commission.
UNITED STATES: The US Security and Exchange Commission develops sustainability reporting requirements similar to ISSB. In the State of California, SB-253—Climate Corporate Data Accountability Act and SB-261—Greenhouse Gases: Climate-Related Financial Risk, will establish the first industry-agnostic US regulations requiring the corporate reporting of greenhouse gas (GHG) emissions and climate risk.
99.60%
of eligible listed companies in Singapore released their latest sustainability reports in time in 2023
(PMO)
10,000+
non-EU companies will be required to report under the CSRD
(LSEG)
Taxonomy:
Singapore & ASEAN:
- Green Taxonomy and Relevant Standards (work in progress)
European Union:
Sustainao supports companies in their sustainability journey by building an impactful strategy, embedding sustainable practices across operations, and reporting performance to stakeholders.
Our sustainability consulting services are designed in a continuous improvement process:
Walk The Talk is a boutique consultancy working with businesses, financial institutions (agnostic of sector and size) and multi-stakeholder organisations to deploy circular business models, create and manage impact and contribute to a regenerative economy.
We support organisations across the sustainability, impact and climate action lifecycle from ideation to execution and offer services related to: ESG & Financial Advisory, Impact and Value Creation, Monitoring, Evaluation & Reporting, and Systems Convening.
ACTIVATE - DESIGN - ACCELERATE. Our expert consulting services and trainings help business leaders understand the complexities of sustainability, consider climate- and nature-related risks and opportunities to make informed decisions and alleviate the administrative burdens of:
We work directly with SMEs or collaborate with other sustainability consulting companies on specific projects. We are actively involved in networks of sustainability professionals who share knowledge with public and educate other professionals to bring awareness and accelerate the transition in Singapore and worldwide (incl. The Matcha Initiative, Climate Fresk, etc.).
Our unique strength stems from understanding sustainability from the risk management perspective, creating a business case and using financial reasoning to adopt sustainable business practices and decarbonize.Operates in: Singapore
SustainableSG was started in September 2018 to accompany companies, non-profit entities and government agencies to review and implement effective and sustainable corporate strategies. Our services include:
At Tulyā, we are accredited sustainability consultants holding certifications in GRI, SASB and TCFD (now IFRS-ISSB), and ISO 14064 GHG Lead Verifiers, alongside being Singapore Certified Management Consultants. We are dedicated to driving sustainable business development across industries through Sustainable Management Accounting.
We help MNCs with:
We help SMEs with:
South Pole has been at the forefront of decarbonization since 2006, developing and implementing comprehensive strategies that turn climate action into long-term business opportunities for Fortune 500 companies, governments and organizations around the world.
South Pole is more than a consultancy, its team of 1,200+ experts have developed projects, as well as designed innovative tools across finance, climate neutral APIs, and carbon offset solutions to help clients reach their carbon mitigation and Net Zero goals.
To date South Pole has worked with over 1,000 clients, and will soon have developed 800 offset projects across 30 offices globally.
Our solutions have created tens of thousands of jobs in developing countries, hundreds of millions of dollars for business, improved brand value and better living and working conditions for countless people in vulnerable communities around the world.
Operates: Worldwide
Materiality assessment is the basis for the company's sustainability strategy. A solid materiality analysis will help you understand the importance of different sustainability issues in your business.
The purpose of the exercise is to include the most relevant ESG (environmental, social and governance) aspects of your business. You may choose to start with a purely environmental materiality assessment, but social aspects related to employees, human rights, and community relations should not be overlooked. Some industries are characterised by strong governance (e.g. anti-corruption, anti-bribery, data protection, etc.), which should also be covered.
The materiality assessment is commonly visualised in a materiality matrix, which shows the importance of sustainability impacts to your business (profit) on one axis and the importance of your business impacts to stakeholders (people & planet) on the other. Here are some examples of materiality matrices.
- FINANCIAL MATERIALITY (OUTSIDE IN) - Identify topics that will impact your business' ability to create value over time, which may depend on natural resources, a reliable supply chain or other issues relevant to the industry, region, and business context.
- IMPACT MATERIALITY (INSIDE OUT) - Consider the impact that your business activities have on the environment and society, and their importance to your stakeholders.
Understand from reporting companies with similar activities what is most material in your industry, and consider SASB's recommended topics for your industry.
Not all topics can be covered when you're first beginning your sustainability journey. With the right focus and simplified methodology, you can actually capture the small essence of the issues that are most material to the business. However, it is important to document the non-prioritised issues and the reasons for not including them, to justify your decisions and use them for future reassessment. SMEs need to narrow the scope and prioritise a smaller set of materiality issues in order to measure, manage and communicate their sustainability efforts.
Suppose you are a subsidiary of a multinational company. In this case, you should understand the group's sustainability strategy and objectives, and clarify the scope of influence and control that corresponds to your region.
71%
of companies identify material ESG topics
(KPMG survey's N100 companies)
80% of Fortune 500 companies
use materiality in their reporting
(Brightest)
- Simplified version of materiality assessment
- Useful information from GRI on materiality assessment: GRI 3 "Material topics 2021"
SustainableSG was started in September 2018 to accompany companies, non-profit entities and government agencies to review and implement effective and sustainable corporate strategies. Our services include:
At Tulyā, we are accredited sustainability consultants holding certifications in GRI, SASB and TCFD (now IFRS-ISSB), and ISO 14064 GHG Lead Verifiers, alongside being Singapore Certified Management Consultants. We are dedicated to driving sustainable business development across industries through Sustainable Management Accounting.
We help MNCs with:
We help SMEs with:
Walk The Talk is a boutique consultancy working with businesses, financial institutions (agnostic of sector and size) and multi-stakeholder organisations to deploy circular business models, create and manage impact and contribute to a regenerative economy.
We support organisations across the sustainability, impact and climate action lifecycle from ideation to execution and offer services related to: ESG & Financial Advisory, Impact and Value Creation, Monitoring, Evaluation & Reporting, and Systems Convening.
ACTIVATE - DESIGN - ACCELERATE. Our expert consulting services and trainings help business leaders understand the complexities of sustainability, consider climate- and nature-related risks and opportunities to make informed decisions and alleviate the administrative burdens of:
We work directly with SMEs or collaborate with other sustainability consulting companies on specific projects. We are actively involved in networks of sustainability professionals who share knowledge with public and educate other professionals to bring awareness and accelerate the transition in Singapore and worldwide (incl. The Matcha Initiative, Climate Fresk, etc.).
Our unique strength stems from understanding sustainability from the risk management perspective, creating a business case and using financial reasoning to adopt sustainable business practices and decarbonize.Operates in: Singapore
Sustainao supports companies in their sustainability journey by building an impactful strategy, embedding sustainable practices across operations, and reporting performance to stakeholders.
Our sustainability consulting services are designed in a continuous improvement process:
Zuno is a pioneer in decarbonisation, carbon & ESG management. Our tech platform helps leading organization measure, reduce and report their carbon emissions and ESG performance. Powering you towards your sustainability goals, one step at a time.
The first step is to identify the key stakeholders that have the most direct relationship with your business activities. Common stakeholder categories for organisations include business partners, customers, shareholders and other investors, policy makers, governments, suppliers, employees and trade unions, local communities and NGOs.
Engage with them to find out what is important to them and to understand their expectations. This can be done through structured interviews. For companies with limited resources, focus on insightful discussions with a few key stakeholders in different categories, rather than questionnaires and superficial input.
69%
of CEOs see significant stakeholder demand for increased transparency and reporting on ESG
(KPMG)
Walk The Talk is a boutique consultancy working with businesses, financial institutions (agnostic of sector and size) and multi-stakeholder organisations to deploy circular business models, create and manage impact and contribute to a regenerative economy.
We support organisations across the sustainability, impact and climate action lifecycle from ideation to execution and offer services related to: ESG & Financial Advisory, Impact and Value Creation, Monitoring, Evaluation & Reporting, and Systems Convening.
ACTIVATE - DESIGN - ACCELERATE. Our expert consulting services and trainings help business leaders understand the complexities of sustainability, consider climate- and nature-related risks and opportunities to make informed decisions and alleviate the administrative burdens of:
We work directly with SMEs or collaborate with other sustainability consulting companies on specific projects. We are actively involved in networks of sustainability professionals who share knowledge with public and educate other professionals to bring awareness and accelerate the transition in Singapore and worldwide (incl. The Matcha Initiative, Climate Fresk, etc.).
Our unique strength stems from understanding sustainability from the risk management perspective, creating a business case and using financial reasoning to adopt sustainable business practices and decarbonize.Operates in: Singapore
At Tulyā, we are accredited sustainability consultants holding certifications in GRI, SASB and TCFD (now IFRS-ISSB), and ISO 14064 GHG Lead Verifiers, alongside being Singapore Certified Management Consultants. We are dedicated to driving sustainable business development across industries through Sustainable Management Accounting.
We help MNCs with:
We help SMEs with:
South Pole has been at the forefront of decarbonization since 2006, developing and implementing comprehensive strategies that turn climate action into long-term business opportunities for Fortune 500 companies, governments and organizations around the world.
South Pole is more than a consultancy, its team of 1,200+ experts have developed projects, as well as designed innovative tools across finance, climate neutral APIs, and carbon offset solutions to help clients reach their carbon mitigation and Net Zero goals.
To date South Pole has worked with over 1,000 clients, and will soon have developed 800 offset projects across 30 offices globally. Our solutions have created tens of thousands of jobs in developing countries, hundreds of millions of dollars for business, improved brand value and better living and working conditions for countless people in vulnerable communities around the world.
Zuno is a pioneer in decarbonisation, carbon & ESG management. Our tech platform helps leading organization measure, reduce and report their carbon emissions and ESG performance. Powering you towards your sustainability goals, one step at a time.
Sustainability risk arises from an uncertain social or environmental event or condition that, if it occurs, could have a material adverse effect on the company. At the same time, these changes and uncertainties can create opportunities. Risks and opportunities create the pressure points that prompt boards/management teams to develop and invest in sustainability strategies. Adopting a sustainable approach not only demonstrates resilience and long-term value creation for the business, but is also a source of competitive advantage.
Failure to address climate change and its consequences, including extreme weather events, environmental damage and loss of biodiversity, is widely recognised as the most urgent potential systemic risk, leading to an unprecedented focus by companies and investors.
There are three main climate-related risks to business:
There are also climate-related business opportunities in resource efficiency, energy sources, products and services, markets and resilience.
Follow these three initial steps to identify the specific and material risks/opportunities for your business:
STEP 1: Create a sustainability profile
- From the list of industry-specific sustainability issues, identify the list of risks that have a material impact on the business and specify the list of opportunities that have the potential to capture the market and/or create value for the business.
- Do the same with the list of stakeholder engagement and analysis topics derived from your materiality assessment.
STEP 2: Characterise these issues based on internal operations, and external operating environment.
- Internal operations: a) key revenue streams and b) key inputs to value creation.
- External operating environment: a) Geographical footprint b) Business climate c) Regulatory climate d) Political climate e) Economic climate
STEP 3: Define time horizons
The timing of the risks and opportunities may exceed the typical short-term horizon although preparation for these risks takes time and should start now. Therefore companies should assess the risks and opportunities in short-, medium- and long term, as relevant.
+ 1.1 °C
average temperature rise in Singapore between 1980 and 2020
(NCCS)
+67 mm rainfall
per decade in Singapore betwen 1980 and 2019
(NCCS)
The TCFD is the world's most influential disclosure framework and provides a climate risk classification. Here is their Climate Risk and Opportunity Classification.
In Singapore in particular, companies are exposed to significant physical risks. Here is a list of them.
At Tulyā, we are accredited sustainability consultants holding certifications in GRI, SASB and TCFD (now IFRS-ISSB), and ISO 14064 GHG Lead Verifiers, alongside being Singapore Certified Management Consultants. We are dedicated to driving sustainable business development across industries through Sustainable Management Accounting.
We help MNCs with:
We help SMEs with:
SustainableSG was started in September 2018 to accompany companies, non-profit entities and government agencies to review and implement effective and sustainable corporate strategies. Our services include:
Sustainao supports companies in their sustainability journey by building an impactful strategy, embedding sustainable practices across operations, and reporting performance to stakeholders.
Our sustainability consulting services are designed in a continuous improvement process:
Walk The Talk is a boutique consultancy working with businesses, financial institutions (agnostic of sector and size) and multi-stakeholder organisations to deploy circular business models, create and manage impact and contribute to a regenerative economy.
We support organisations across the sustainability, impact and climate action lifecycle from ideation to execution and offer services related to: ESG & Financial Advisory, Impact and Value Creation, Monitoring, Evaluation & Reporting, and Systems Convening.
ACTIVATE - DESIGN - ACCELERATE. Our expert consulting services and trainings help business leaders understand the complexities of sustainability, consider climate- and nature-related risks and opportunities to make informed decisions and alleviate the administrative burdens of:
We work directly with SMEs or collaborate with other sustainability consulting companies on specific projects. We are actively involved in networks of sustainability professionals who share knowledge with public and educate other professionals to bring awareness and accelerate the transition in Singapore and worldwide (incl. The Matcha Initiative, Climate Fresk, etc.).
Our unique strength stems from understanding sustainability from the risk management perspective, creating a business case and using financial reasoning to adopt sustainable business practices and decarbonize.Operates in: Singapore
South Pole has been at the forefront of decarbonization since 2006, developing and implementing comprehensive strategies that turn climate action into long-term business opportunities for Fortune 500 companies, governments and organizations around the world.
South Pole is more than a consultancy, its team of 1,200+ experts have developed projects, as well as designed innovative tools across finance, climate neutral APIs, and carbon offset solutions to help clients reach their carbon mitigation and Net Zero goals.To date South Pole has worked with over 1,000 clients, and will soon have developed 800 offset projects across 30 offices globally.
Our solutions have created tens of thousands of jobs in developing countries, hundreds of millions of dollars for business, improved brand value and better living and working conditions for countless people in vulnerable communities around the world.
Many organisations are already familiar with the Enterprise Risk Management (ERM) frameworks, like the COSO or ISO 31000 (links provided below). They identify new risks and opportunities and manage them through the Risk Register. To assess the risks and opportunities, they typically use the Risk Matrix Approach, whereby the likelihood of occurrence and intensity (severity) of financial impact within a given time horizon (usually short-term) are assessed. Following the generic risk formula: risk = likelihood x intensity (severity), hotspots can be identified and prioritised for a risk response plan.
Because of the uncertainty around the exact timing and severity of climate change impacts, and the challenges and complexities associated with the transition to a low-carbon economy, the Task force on Climate-related Financial Disclosure (TCFD) recommends the use of forward-looking climate scenario analysis. Companies can use some of the pre-defined scenarios, like IPCC's RCPs and SSPs for physical risks, or IEA's scenarios for transition risks.
A response strategy is a mapping of actions to priority topics.
Threat response actions can be:
a) Avoid the risk
b) Mitigate the risk
c) Transfer the risk
d) Accept a risk that occurs periodically
e) Escalate the risk.
Opportunity response actions can be:
a) Exploit the opportunity
b) Enhance the opportunity
c) Share the opportunity
d) Accept the opportunity
Organisations use their Enterprise Risk Management structures and processes to identify, assess, manage, monitor and communicate risks. Climate-related risks should be integrated into the traditional ERM function/tool.
2016 and 2019
were the hottest years recorded so far in Singapore
(MSE)
+1.4 °C up to +4.6°C
projected daily mean temperature's increase by 2100 compared to 2000's.
(MSE)
The main used Enterprise Risk Management frameworks are:
* The COSO Integrated ERM Framework (it can be be supplemented by COBIT in the area of information security)
TCFD guidance and recommendations on how to conduct a scenario analysis
For further reading: research paper on ERM
SustainableSG was started in September 2018 to accompany companies, non-profit entities and government agencies to review and implement effective and sustainable corporate strategies.
Our services include:
At Tulyā, we are accredited sustainability consultants holding certifications in GRI, SASB and TCFD (now IFRS-ISSB), and ISO 14064 GHG Lead Verifiers, alongside being Singapore Certified Management Consultants. We are dedicated to driving sustainable business development across industries through Sustainable Management Accounting.
We help MNCs with:
We help SMEs with:
Sustainao supports companies in their sustainability journey by building an impactful strategy, embedding sustainable practices across operations, and reporting performance to stakeholders.
Our sustainability consulting services are designed in a continuous improvement process:
ACTIVATE - DESIGN - ACCELERATE. Our expert consulting services and trainings help business leaders understand the complexities of sustainability, consider climate- and nature-related risks and opportunities to make informed decisions and alleviate the administrative burdens of:
We work directly with SMEs or collaborate with other sustainability consulting companies on specific projects. We are actively involved in networks of sustainability professionals who share knowledge with public and educate other professionals to bring awareness and accelerate the transition in Singapore and worldwide (incl. The Matcha Initiative, Climate Fresk, etc.).
Our unique strength stems from understanding sustainability from the risk management perspective, creating a business case and using financial reasoning to adopt sustainable business practices and decarbonize.Operates in: Singapore
South Pole has been at the forefront of decarbonization since 2006, developing and implementing comprehensive strategies that turn climate action into long-term business opportunities for Fortune 500 companies, governments and organizations around the world.
South Pole is more than a consultancy, its team of 1,200+ experts have developed projects, as well as designed innovative tools across finance, climate neutral APIs, and carbon offset solutions to help clients reach their carbon mitigation and Net Zero goals.To date South Pole has worked with over 1,000 clients, and will soon have developed 800 offset projects across 30 offices globally.
Our solutions have created tens of thousands of jobs in developing countries, hundreds of millions of dollars for business, improved brand value and better living and working conditions for countless people in vulnerable communities around the world.
The relevant KPIs should be related to the selected materiality topic (see the strategic analysis section to define those topics).
Environmental metrics: e.g. greenhouse gas emissions, water use, energy use, waste, biodiversity impact.
Social metrics: e.g. gender equality, human rights, child labour, occupational injuries.
Governance metrics: e.g. board diversity, board independence, equitable treatment of shareholders.
You may be required to provide your carbon footprint or other metrics for regulatory reasons or to meet the demands of external stakeholders. You can browse our website for carbon footprint management.
To facilitate comparability between companies with similar risks, opportunities and impacts, the use of normalisation factors is recommended . These industry-specific metrics include sales, production units, number of employees, hours worked, etc.. It also makes it easier to monitor your own performance over time.
+95%
increase in GHG emission in Asia in between 1990 and 2010
(OECD)
27
core sustainability metrics have been defined by ASEAN Exchanges, of which 4 are environmental, 13 are social and 10 are governance.
(ASEAN Exchanges)
ACTIVATE - DESIGN - ACCELERATE. Our expert consulting services and trainings help business leaders understand the complexities of sustainability, consider climate- and nature-related risks and opportunities to make informed decisions and alleviate the administrative burdens of:
We work directly with SMEs or collaborate with other sustainability consulting companies on specific projects. We are actively involved in networks of sustainability professionals who share knowledge with public and educate other professionals to bring awareness and accelerate the transition in Singapore and worldwide (incl. The Matcha Initiative, Climate Fresk, etc.).
Our unique strength stems from understanding sustainability from the risk management perspective, creating a business case and using financial reasoning to adopt sustainable business practices and decarbonize.Operates in: Singapore
Sustainao supports companies in their sustainability journey by building an impactful strategy, embedding sustainable practices across operations, and reporting performance to stakeholders.
Our sustainability consulting services are designed in a continuous improvement process:
SustainableSG was started in September 2018 to accompany companies, non-profit entities and government agencies to review and implement effective and sustainable corporate strategies. Our services include:
At Tulyā, we are accredited sustainability consultants holding certifications in GRI, SASB and TCFD (now IFRS-ISSB), and ISO 14064 GHG Lead Verifiers, alongside being Singapore Certified Management Consultants. We are dedicated to driving sustainable business development across industries through Sustainable Management Accounting.
We help MNCs with:
We help SMEs with:
Walk The Talk is a boutique consultancy working with businesses, financial institutions(agnostic of sector and size) and multi-stakeholder organisations to deploy circular business models, create and manage impact and contribute to a regenerative economy.
We support organisations across the sustainability, impact and climate action lifecycle from ideation to execution and offer services related to: ESG & Financial Advisory, Impact and Value Creation, Monitoring, Evaluation & Reporting, and Systems Convening.
Operates in: deliver projects across geographies, based out of Singapore
Certification of organic and sustainable products in the agri-food, cosmetics and textile industries
Sustainability accounting is a set of tools and practices designed to measure and evaluate a company's sustainability activities and their impact on the business.
To get a more accurate picture of the company's footprint and build more targeted action plans, it is necessary to carry out an in-depth review of the value chain. Going through the stages one by one will allow you to identify more precisely the environmental (loss of biodiversity, water consumption, use of natural resources, etc.) and human (outsourcing to low-income countries, human rights, etc.) impacts of your business.
Tracking and managing environmental costs, identifying where the impacts occur and how to make improvements, requires a process-oriented approach.
- At the very least, you would need a simple version of an Operational Management System (OMS), which is a set of processes and procedures to effectively manage business practices.
- For a more in-depth approach, you could carry out an Environmental Impact Assessment, which is a systematic process for identifying the positive and negative environmental impacts (externalities) of the organisation's activities.
less than half
of companies report on biodiversity loss
(KPMG)
90%
of the companies GHG emissions come from their supply chains, according to the Environmental Protection Agency
(EPS News)
- Course on Environmental Impact Assessment from Singapore Polytechnic
- Get inspired by Kering EP&L
- ISO 14001- Environmental management system
Asuzero is a comprehensive platform for enterprises aiming to achieve net-zero and combat the global climate crisis. Our unique value proposition lies in offering a one-stop solution that educates and guides customers on their decarbonization journey. We provide bespoke consulting services to help organisations understand their carbon footprint and greenhouse gas (GHG) emissions across all three scopes.
By addressing Scope 3 emissions, we assist customers in engaging with their vendors and conducting assessments to accurately calculate and offset their emissions. Furthermore, our platform offers Life Cycle Assessment (LCA) and Supply Chain functions to help manage sustainability performance and track progress towards sustainability goals.
As a certified provider by CDP and TCFD, we are authorised to issue sustainability ratings for companies and products, highlighting their level of sustainability performance. Asuzero enables enterprises to take decisive action, drive momentum, and work towards a sustainable, low-carbon future.
Operates in: Singapore, Japan, Thailand, Hong Kong
Certification of organic and sustainable products in the agri-food, cosmetics and textile industries
Walk The Talk is a boutique consultancy working with businesses, financial institutions (agnostic of sector and size) and multi-stakeholder organisations to deploy circular business models, create and manage impact and contribute to a regenerative economy.
We support organisations across the sustainability, impact and climate action lifecycle from ideation to execution and offer services related to: ESG & Financial Advisory, Impact and Value Creation, Monitoring, Evaluation & Reporting, and Systems Convening.
Givvable is an automated data platform that helps organisations understand the sustainability profile of their suppliers and supply chain. It captures, tracks and reports on the credentials of suppliers, that are the strongest indicators of whether a supplier is taking action on sustainability.
Givvable covers local to global and SME to MNC suppliers, ensuring it has the widest coverage of supplier sustainability data globally.
Givvable will help you:
South Pole has been at the forefront of decarbonization since 2006, developing and implementing comprehensive strategies that turn climate action into long-term business opportunities for Fortune 500 companies, governments and organizations around the world.
South Pole is more than a consultancy, its team of 1,200+ experts have developed projects, as well as designed innovative tools across finance, climate neutral APIs, and carbon offset solutions to help clients reach their carbon mitigation and Net Zero goals.
To date South Pole has worked with over 1,000 clients, and will soon have developed 800 offset projects across 30 offices globally. Our solutions have created tens of thousands of jobs in developing countries, hundreds of millions of dollars for business, improved brand value and better living and working conditions for countless people in vulnerable communities around the world.
Zuno is a pioneer in decarbonisation, carbon & ESG management. Our tech platform helps leading organization measure, reduce and report their carbon emissions and ESG performance. Powering you towards your sustainability goals, one step at a time.
Together with financial information, non-financial metrics should be part of the decision making process to understand the relationship between accounting and environmental issues. Based on a detailed understanding of the processes at a fine granularity (from solution above "Screen the impacts on the entire value chain"), the following tools are methods for assessing the externalities that sustainability accounting is expected to integrate:
Life Cycle Assessment (LCA) - measures the environmental impact of a product or service from start to finish, covering all stages of a life cycle. Carbon footprint could be an example. The Life Cycle Initiative provides insight into LCA assessment tools and methodologies. The principles and framework for LCA are described in ISO 14040 and the requirements themselves are set out in ISO 14044.
Social Return on Investment (SRoI) - to assess the range of impacts of an investment. It differs from other methods in that it allows the societal value of an investment to be calculated beyond the financial return. It helps to identify the different types of social, environmental and economic outcomes that an activity has. Example: NGOs and non-profit organisations use SRoI to effectively measure their activities and their impact on creating value in society.
Internal carbon pricing - an internal carbon pricing system identifies the process in which emissions are produced and puts an internal shadow price on them. You can browse our website on carbon footprint management.
Living wage - When outsourcing to a low-income country, a living wage should be incorporated to reflect the real cost of the product. It is a standardised cost that includes the actual cost of labour paid in the foreign country, increased by a wage differential based on the domestic market. More details on the Living Wage Accounting Model (Shift, 2023).
126th / 142 countries
is Singapore's rank in terms of carbon emissions per $GDP
(NCCS)
over 80%
of the world's wastewater is discharged untreated into biodiversity-rich freshwater and into coastal ecosystems
(World Economic Forum)
Article:
World Business Council for Sustainable Development - 'Navigating internal carbon pricing to drive decision-making and emissions reduction: three strategies for effective implementation'
We are a decarbonization software focussing on automating the emission measurement of Scope3 emissions, specialising in Asia Pacific supply chains.
Operates in: APAC
Asuzero is a comprehensive platform for enterprises aiming to achieve net-zero and combat the global climate crisis. Our unique value proposition lies in offering a one-stop solution that educates and guides customers on their decarbonization journey. We provide bespoke consulting services to help organisations understand their carbon footprint and greenhouse gas (GHG) emissions across all three scopes.
By addressing Scope 3 emissions, we assist customers in engaging with their vendors and conducting assessments to accurately calculate and offset their emissions. Furthermore, our platform offers Life Cycle Assessment (LCA) and Supply Chain functions to help manage sustainability performance and track progress towards sustainability goals.
As a certified provider by CDP and TCFD, we are authorised to issue sustainability ratings for companies and products, highlighting their level of sustainability performance. Asuzero enables enterprises to take decisive action, drive momentum, and work towards a sustainable, low-carbon future.Operates in: Singapore, Japan, Thailand, Hong Kong
Sustainao supports companies in their sustainability journey by building an impactful strategy, embedding sustainable practices across operations, and reporting performance to stakeholders.
Our sustainability consulting services are designed in a continuous improvement process:
At Tulyā, we are accredited sustainability consultants holding certifications in GRI, SASB and TCFD (now IFRS-ISSB), and ISO 14064 GHG Lead Verifiers, alongside being Singapore Certified Management Consultants. We are dedicated to driving sustainable business development across industries through Sustainable Management Accounting.
We help MNCs with:
We help SMEs with:
SustainableSG was started in September 2018 to accompany companies, non-profit entities and government agencies to review and implement effective and sustainable corporate strategies. Our services include:
Walk The Talk is a boutique consultancy working with businesses, financial institutions(agnostic of sector and size) and multi-stakeholder organisations to deploy circular business models, create and manage impact and contribute to a regenerative economy.
We support organisations across the sustainability, impact and climate action lifecycle from ideation to execution and offer services related to: ESG & Financial Advisory, Impact and Value Creation, Monitoring, Evaluation & Reporting, and Systems Convening.
Operates in: deliver projects across geographies, based out of Singapore
Integrating sustainability considerations into your financial planning processes starts with setting goals:
- Baseline - You need a starting point for comparisons. Sometimes it is difficult to go back in time to gather historical data, and the baseline will be the year you start measuring. It is recommended to choose from the last 2 years or the current year.
- Setting targets - Once you have a good understanding of your environmental performance, you should consider your business objectives such as growth plans, expansion and other strategic decisions that will impact on your sustainability goals when setting targets.
It is also important that the targets are science-based and ambitious enough to meet external expectations. Science Based Targets is the go-to source for insights on how to set climate-related targets. For smaller companies at the beginning of their sustainability journey, a logical approach to selecting achievable milestones is a good start.
Taking into account the business outlook as well as the scientific guidelines and milestones, you will have ambitious but realistic goals. To be credible, targets should include both long-term and interim goals. Overly ambitious long-term commitments based on techniques that are at an early stage of development will not be well received.
- Scenario building - With the selected materiality topics and targets in place, your organisation is in a position to apply scenarios that may impact your results.
Mandatory sustainability reporting standards such as IFRS S2 and ESRS 2, require listed companies to disclose climate-related scenario analysis. There are many external factors outside the company’s control that can affect your P&L, and management needs to be aware of them. If you have already carried out a Risk & Opportunity Assessment, the analysis should be linked to your business objectives to gain insight into their financial impact and the potential cost of inaction. (see the section "strategic analysis" for the mandatory requirements and the Risk & Opportunity Assessment)
Create business scenarios based on increased water, waste and electricity costs and potential taxes as well as opportunities such as market access, branding, grants, and green loans.
20%
of the companies who report their carbon targets do not disclose any link to an external target (such as a 1.5˚C scenario)
(KPMG)
SBTi: Why set a science-based net-zero target?
Net-zero Tracker: Explore the companies who set net-zero targets
At Tulyā, we are accredited sustainability consultants holding certifications in GRI, SASB and TCFD (now IFRS-ISSB), and ISO 14064 GHG Lead Verifiers, alongside being Singapore Certified Management Consultants. We are dedicated to driving sustainable business development across industries through Sustainable Management Accounting.
We help MNCs with:
We help SMEs with:
Sustainao supports companies in their sustainability journey by building an impactful strategy, embedding sustainable practices across operations, and reporting performance to stakeholders.
Our sustainability consulting services are designed in a continuous improvement process:
SustainableSG was started in September 2018 to accompany companies, non-profit entities and government agencies to review and implement effective and sustainable corporate strategies. Our services include:
Walk The Talk is a boutique consultancy working with businesses, financial institutions (agnostic of sector and size) and multi-stakeholder organisations to deploy circular business models, create and manage impact and contribute to a regenerative economy.
We support organisations across the sustainability, impact and climate action lifecycle from ideation to execution and offer services related to: ESG & Financial Advisory, Impact and Value Creation, Monitoring, Evaluation & Reporting, and Systems Convening.
Operates in: deliver projects across geographies, based out of Singapore
ACTIVATE - DESIGN - ACCELERATE. Our expert consulting services and trainings help business leaders understand the complexities of sustainability, consider climate- and nature-related risks and opportunities to make informed decisions and alleviate the administrative burdens of:
We work directly with SMEs or collaborate with other sustainability consulting companies on specific projects. We are actively involved in networks of sustainability professionals who share knowledge with public and educate other professionals to bring awareness and accelerate the transition in Singapore and worldwide (incl. The Matcha Initiative, Climate Fresk, etc.).
Our unique strength stems from understanding sustainability from the risk management perspective, creating a business case and using financial reasoning to adopt sustainable business practices and decarbonize.Operates in: Singapore
Zuno is a pioneer in decarbonisation, carbon & ESG management. Our tech platform helps leading organization measure, reduce and report their carbon emissions and ESG performance. Powering you towards your sustainability goals, one step at a time.
To get the most out of measuring and reporting on material topics and to ensure effective integration of the sustainability strategy, the metrics should be integrated into the internal decision-making process:
This will enable management to keep track of their priorities and sustainability performance and embed a continuous improvement and iterative system towards a more sustainable business model. This is preferable to a more tactical approach with ad hoc decisions or philanthropic activities to keep employees engaged.
Targets and scenarios require regular monitoring and reassessment. As the business forecast and overall strategy change over time, the defined sustainability KPIs will be affected and should be reassessed.
44 trillion USD
of global economic value generation depends on nature and its services
(World Economic Forum)
63% of CEO
shifted corporate sustainability goals to the top of their agenda in 2021
Sustainao supports companies in their sustainability journey by building an impactful strategy, embedding sustainable practices across operations, and reporting performance to stakeholders.
Our sustainability consulting services are designed in a continuous improvement process:
SustainableSG was started in September 2018 to accompany companies, non-profit entities and government agencies to review and implement effective and sustainable corporate strategies. Our services include:
At Tulyā, we are accredited sustainability consultants holding certifications in GRI, SASB and TCFD (now IFRS-ISSB), and ISO 14064 GHG Lead Verifiers, alongside being Singapore Certified Management Consultants. We are dedicated to driving sustainable business development across industries through Sustainable Management Accounting.
We help MNCs with:
We help SMEs with:
ACTIVATE - DESIGN - ACCELERATE. Our expert consulting services and trainings help business leaders understand the complexities of sustainability, consider climate- and nature-related risks and opportunities to make informed decisions and alleviate the administrative burdens of:
We work directly with SMEs or collaborate with other sustainability consulting companies on specific projects. We are actively involved in networks of sustainability professionals who share knowledge with public and educate other professionals to bring awareness and accelerate the transition in Singapore and worldwide (incl. The Matcha Initiative, Climate Fresk, etc.).
Our unique strength stems from understanding sustainability from the risk management perspective, creating a business case and using financial reasoning to adopt sustainable business practices and decarbonize.Operates in: Singapore
Givvable is an automated data platform that helps organisations understand the sustainability profile of their suppliers and supply chain. It captures, tracks and reports on the credentials of suppliers, that are the strongest indicators of whether a supplier is taking action on sustainability.
Givvable covers local to global and SME to MNC suppliers, ensuring it has the widest coverage of supplier sustainability data globally.Givvable will help you:screen your existing suppliers and identify gaps for improvementvet new suppliers at RFP, onboarding or renewalfind new suppliers via the givvable search platformbuild capability in your suppliers through learning tools, modules and badges
Walk The Talk is a boutique consultancy working with businesses, financial institutions (agnostic of sector and size) and multi-stakeholder organisations to deploy circular business models, create and manage impact and contribute to a regenerative economy.
We support organisations across the sustainability, impact and climate action lifecycle from ideation to execution and offer services related to: ESG & Financial Advisory, Impact and Value Creation, Monitoring, Evaluation & Reporting, and Systems Convening.Operates in: deliver projects across geographies, based out of Singapore
Stakeholder engagement requires identifying who needs what type of sustainability information. An ESG report can be as simple as interpreting the materiality data so that the reader can understand the scope, the business context, why an issue is considered material, performance over time, reasons for good or poor performance and planned actions.
It is important to use neutral language to build trust. Do not overstate achievements and only highlight positive aspects. The report should be balanced and accurate.
It is good practice to include:
- An introductory statement from the CEO setting out the overall content
- Stakeholder engagement
- Materiality matrix
- Outcome of each topic over time and normalised values in graph format
- Comments on each topic – actions taken, next steps, etc.
- References to the framework used in an index format
- Examples of employee engagement
- Overall narrative on impact created
The ideal outcome is to present the sustainability report as an integrated part of the annual report.
Between 2020 and 2021
Companies have appointed almost as many CSOs as in the previous 8 years.
(Strategy-business)
- Read our article on sustainability reporting
- Read more details on the TCFD recommendations
- The GRI template will help you create your own GRI content index
SustainableSG was started in September 2018 to accompany companies, non-profit entities and government agencies to review and implement effective and sustainable corporate strategies. Our services include:
ACTIVATE - DESIGN - ACCELERATE. Our expert consulting services and trainings help business leaders understand the complexities of sustainability, consider climate- and nature-related risks and opportunities to make informed decisions and alleviate the administrative burdens of:
We work directly with SMEs or collaborate with other sustainability consulting companies on specific projects. We are actively involved in networks of sustainability professionals who share knowledge with public and educate other professionals to bring awareness and accelerate the transition in Singapore and worldwide (incl. The Matcha Initiative, Climate Fresk, etc.).
Our unique strength stems from understanding sustainability from the risk management perspective, creating a business case and using financial reasoning to adopt sustainable business practices and decarbonize.Operates in: Singapore
At Tulyā, we are accredited sustainability consultants holding certifications in GRI, SASB and TCFD (now IFRS-ISSB), and ISO 14064 GHG Lead Verifiers, alongside being Singapore Certified Management Consultants. We are dedicated to driving sustainable business development across industries through Sustainable Management Accounting.
We help MNCs with:
We help SMEs with:
Sustainao supports companies in their sustainability journey by building an impactful strategy, embedding sustainable practices across operations, and reporting performance to stakeholders.
Our sustainability consulting services are designed in a continuous improvement process:
Walk The Talk is a boutique consultancy working with businesses, financial institutions (agnostic of sector and size) and multi-stakeholder organisations to deploy circular business models, create and manage impact and contribute to a regenerative economy.
We support organisations across the sustainability, impact and climate action lifecycle from ideation to execution and offer services related to: ESG & Financial Advisory, Impact and Value Creation, Monitoring, Evaluation & Reporting, and Systems Convening.
Operates in: deliver projects across geographies, based out of Singapore
Zuno is a pioneer in decarbonisation, carbon & ESG management. Our tech platform helps leading organization measure, reduce and report their carbon emissions and ESG performance. Powering you towards your sustainability goals, one step at a time.
Sustainability communication is much more than an ESG report. It should engage all stakeholders - customers, employees and the wider community - to build awareness and support for the company's sustainability efforts, and be delivered in a transparent and tailored way. Not only external, but also internal communication, sharing concrete initiatives and progress on the sustainability roadmap, is under increasing scrutiny.
Create the narrative:
Develop a clear, concise, and consistent message about the company's sustainability efforts that can be used in all communications, reports, and marketing materials. Monitor and evaluate the effectiveness of the company's sustainability communications and marketing efforts and make changes as needed to improve impact.
Communicate transparently:
Greenwashing can be defined as creating a false impression or providing misleading information to show that an organisation's products or services are good for the environment, or at least better than competitors. In essence, it is when a company or organisation spends more time and money marketing itself as sustainable than actually minimising its environmental impact. Companies sometimes engage in greenwashing because it helps them to be seen as ethical, which in turn helps their profitability, or they simply don't know they're doing it. Greenwashing is a threat to business because of the reputational risk it can cause, but even more so now that regulation is increasing, with the EU voting to "ban greenwashing and improve consumer information on product durability".
Transparency plays a key role in avoiding misleading advertising and/or ignorance. To minimise the risk of greenwashing, it can be helpful to identify the green credentials of products and create a process to regularly identify, monitor and manage them. If you have communicated incorrectly (e.g. in the facts and figures of the sustainability report), it's a good idea to make corrections.
Industry guidelines for sustainable communications can be found on the PRCA APAC Sustainability Working Group website.
Internal communications:
An effective internal communication strategy is essential to strengthen the culture of sustainability among employees and build morale and trust. Employee understanding of the sustainability strategy is a prerequisite for employee engagement and the integration of sustainable practices into day-to-day operations.
up to 100 000$
fine or up to 2 years prison for companies charged for making false or deceptive environmental claims under the CPFTA
(SEC)
51%
of online environment-friendly product claims are vague or give insufficient details, according to a 2022 survey ordered by the Competition and Consumer Commission of Singapore
(CCCS)
- guide on greenwashing and how to spot it
- communication guide to get internal buy-in of the sustainability strategy
Third-party verification / qualification tools:
- The Singapore Environment Council
- Singapore Green Building Product (SGBP) scheme
- Integrated Assessment Services
- Other ecolabels… (SEC Green Label, FSC, Fairtrade, MSC for seafood, EcoVadis for supply chain)
Strategic sustainability messaging to engage stakeholders and communicate your ESG commitments authentically and in alignment with prevailing guidelines.
Operates in: Singapore
Anewkind is a planet centric design and strategy studio delivering workshops and advisory services to adapt brands, business models and systems with regenerative principles.
Operates in: Singapore, Montreal, Paris
Zuno is a pioneer in decarbonisation, carbon & ESG management. Our tech platform helps leading organization measure, reduce and report their carbon emissions and ESG performance. Powering you towards your sustainability goals, one step at a time.
South Pole has been at the forefront of decarbonization since 2006, developing and implementing comprehensive strategies that turn climate action into long-term business opportunities for Fortune 500 companies, governments and organizations around the world.
South Pole is more than a consultancy, its team of 1,200+ experts have developed projects, as well as designed innovative tools across finance, climate neutral APIs, and carbon offset solutions to help clients reach their carbon mitigation and Net Zero goals.
To date South Pole has worked with over 1,000 clients, and will soon have developed 800 offset projects across 30 offices globally. Our solutions have created tens of thousands of jobs in developing countries, hundreds of millions of dollars for business, improved brand value and better living and working conditions for countless people in vulnerable communities around the world.
To enable a targeted action plan, the externalities, that have been previously valued (see Environmental and Social Impact Identification), should be analytically accounted for in the accounts.
Incorporating the externalities derived from valuation tools such as the internal carbon price or the living wage into the accounts allows the real cost of an activity, process or product to the company and its environment to be reflected in the company's reports, and progress on these externalities to be measured and disclosed over time.
This is an essential step in the decision-making process to avoid making decisions based only on apparent costs, which can encourage the depletion of natural resources or the exploitation of resource-poor countries. It should lead to more sustainable business practices.
The following cost allocation methods are examples of how externalities can be incorporated into accounting:
Activity Based Costing (ABC) - based on the activities that generate the costs, ABC allocates internal expenses to cost centres and cost drivers. For example, for the carbon emissions, ABC identifies potential activities that will generate carbon emissions and calculates their emissions data.
Material Flow Cost Accounting (MFCA) - is mainly used for manufacturing processes and focuses on identifying which processes can improve the use of raw materials, energy, water and waste. ISO 14051 outlines the requirements for an MFCA analysis, which is a useful tool for companies seeking a circular business model.
The suitability of the tool depends on the type of business (products or services) and the area of impact (energy, water, waste) you are dealing with.
38% decline in EPS (earnings per share)
for Danone in 2019 when using carbon-adjusted performance measures
(BwB)
At Tulyā, we are accredited sustainability consultants holding certifications in GRI, SASB and TCFD (now IFRS-ISSB), and ISO 14064 GHG Lead Verifiers, alongside being Singapore Certified Management Consultants. We are dedicated to driving sustainable business development across industries through Sustainable Management Accounting.
We help MNCs with:
We help SMEs with:
Sustainao supports companies in their sustainability journey by building an impactful strategy, embedding sustainable practices across operations, and reporting performance to stakeholders.
Our sustainability consulting services are designed in a continuous improvement process:
SustainableSG was started in September 2018 to accompany companies, non-profit entities and government agencies to review and implement effective and sustainable corporate strategies. Our services include:
ACTIVATE - DESIGN - ACCELERATE. Our expert consulting services and trainings help business leaders understand the complexities of sustainability, consider climate- and nature-related risks and opportunities to make informed decisions and alleviate the administrative burdens of:
We work directly with SMEs or collaborate with other sustainability consulting companies on specific projects. We are actively involved in networks of sustainability professionals who share knowledge with public and educate other professionals to bring awareness and accelerate the transition in Singapore and worldwide (incl. The Matcha Initiative, Climate Fresk, etc.).
Our unique strength stems from understanding sustainability from the risk management perspective, creating a business case and using financial reasoning to adopt sustainable business practices and decarbonize.Operates in: Singapore
South Pole has been at the forefront of decarbonization since 2006, developing and implementing comprehensive strategies that turn climate action into long-term business opportunities for Fortune 500 companies, governments and organizations around the world.
South Pole is more than a consultancy, its team of 1,200+ experts have developed projects, as well as designed innovative tools across finance, climate neutral APIs, and carbon offset solutions to help clients reach their carbon mitigation and Net Zero goals.To date South Pole has worked with over 1,000 clients, and will soon have developed 800 offset projects across 30 offices globally.
Our solutions have created tens of thousands of jobs in developing countries, hundreds of millions of dollars for business, improved brand value and better living and working conditions for countless people in vulnerable communities around the world.
Sustainability is not a cost, it is an investment to future-proof your business. Today's business leaders must be prepared to answer questions from stakeholders about their sustainability strategy and priorities. Implementing sustainable initiatives creates opportunities: attracting new customers who demand more responsible brands; meeting the increasing demand from listed companies for insight into their suppliers' sustainability strategy; attracting and retaining talent who seek purpose-driven employers; reducing operating costs through, for example, energy efficiency or reduced packaging.
To ensure that the strategy is sustainable, it is important to drive initiatives with a long-term vision. Redirecting all or part of the cost savings or additional revenue generated by successful initiatives into a dedicated budget will allow other sustainable initiatives to be funded at no additional cost. This will create a ripple effect and accelerate your transition to a more sustainable business model.
Hundreds of millions of USD
in savings and growth can be uncovered through non-financial metrics such as carbon emissions.
(Harvard business review)
395 million jobs globally by 2030
could be created from 15 systemic changes in Food, land and ocean use, infrastructure and built environment, and energy and extractives
(World Economic Forum)
We are a decarbonization software focussing on automating the emission measurement of Scope3 emissions, specialising in Asia Pacific supply chains.
Operates in: APAC
ACTIVATE - DESIGN - ACCELERATE. Our expert consulting services and trainings help business leaders understand the complexities of sustainability, consider climate- and nature-related risks and opportunities to make informed decisions and alleviate the administrative burdens of:
We work directly with SMEs or collaborate with other sustainability consulting companies on specific projects. We are actively involved in networks of sustainability professionals who share knowledge with public and educate other professionals to bring awareness and accelerate the transition in Singapore and worldwide (incl. The Matcha Initiative, Climate Fresk, etc.).
Our unique strength stems from understanding sustainability from the risk management perspective, creating a business case and using financial reasoning to adopt sustainable business practices and decarbonize.Operates in: Singapore
South Pole has been at the forefront of decarbonization since 2006, developing and implementing comprehensive strategies that turn climate action into long-term business opportunities for Fortune 500 companies, governments and organizations around the world.
South Pole is more than a consultancy, its team of 1,200+ experts have developed projects, as well as designed innovative tools across finance, climate neutral APIs, and carbon offset solutions to help clients reach their carbon mitigation and Net Zero goals.
To date South Pole has worked with over 1,000 clients, and will soon have developed 800 offset projects across 30 offices globally. Our solutions have created tens of thousands of jobs in developing countries, hundreds of millions of dollars for business, improved brand value and better living and working conditions for countless people in vulnerable communities around the world.
Sustainability accounting is based on relevant sustainability data that has been monitored over a period of time.
It is important to ensure that sustainability accounting is part of the company's processes and that data collection is an ongoing activity in order to continuously identify improvements. Like other non-financial data and performance indicators, environmental, social and governance (ESG) data must be well understood in context, presented with a narrative of qualitative information and linked to financial data. Once you have selected the relevant sustainability data, you should do the following:
- Identify data owners: which department is responsible for and owns the information? or which people in the organisation know the processes and can capture and interpret the sustainability data in its context?
- Review what information is already available and what is already being measured.
- Define the set of characteristics for each data: definition of the metrics, the format, the quality criteria, the frequency...
A company can often build on its existing resources and business metrics by adding some missing data to align with the standards and frameworks.
1000
Data points have been identified, by the CSRD, that companies may have to report on. But only those material to their financial performance are obligatory for reporting.
(Pwc)
At Tulyā, we are accredited sustainability consultants holding certifications in GRI, SASB and TCFD (now IFRS-ISSB), and ISO 14064 GHG Lead Verifiers, alongside being Singapore Certified Management Consultants. We are dedicated to driving sustainable business development across industries through Sustainable Management Accounting.
We help MNCs with:
We help SMEs with:
SustainableSG was started in September 2018 to accompany companies, non-profit entities and government agencies to review and implement effective and sustainable corporate strategies. Our services include:
Sustainao supports companies in their sustainability journey by building an impactful strategy, embedding sustainable practices across operations, and reporting performance to stakeholders.
Our sustainability consulting services are designed in a continuous improvement process:
Terrascope is an end-to-end decarbonisation platform that enables enterprises to measure and manage their Scope-1, Scope-2 and Scope-3 emissions across operations, supply chains, and portfolios.
Zuno is a pioneer in decarbonisation, carbon & ESG management. Our tech platform helps leading organization measure, reduce and report their carbon emissions and ESG performance. Powering you towards your sustainability goals, one step at a time.
We are a decarbonization software focussing on automating the emission measurement of Scope3 emissions, specialising in Asia Pacific supply chains.
Operates in: APAC
This step aims to:
1) define the rules and procedures for collecting, storing, processing, analysing and reporting data (data governance);
2) implement the day-to-day data management processes in accordance with the defined rules (data stewardship).
The process ensures the security, integrity and quality of the data. As sustainability data becomes part of mandatory reporting, data compliance will also need to be considered.
Finally, it is important to communicate and explain the process to data providers and users.
Higher ESG ratings
for companies with CSOs in 2022
(Strategy-business)
Read the methodology provided by the Data Governance Institute for data management.
Sustainao supports companies in their sustainability journey by building an impactful strategy, embedding sustainable practices across operations, and reporting performance to stakeholders.
Our sustainability consulting services are designed in a continuous improvement process:
Zuno is a pioneer in decarbonisation, carbon & ESG management. Our tech platform helps leading organization measure, reduce and report their carbon emissions and ESG performance. Powering you towards your sustainability goals, one step at a time.
At Tulyā, we are accredited sustainability consultants holding certifications in GRI, SASB and TCFD (now IFRS-ISSB), and ISO 14064 GHG Lead Verifiers, alongside being Singapore Certified Management Consultants. We are dedicated to driving sustainable business development across industries through Sustainable Management Accounting.
We help MNCs with:
We help SMEs with:
SustainableSG was started in September 2018 to accompany companies, non-profit entities and government agencies to review and implement effective and sustainable corporate strategies. Our services include:
Givvable is an automated data platform that helps organisations understand the sustainability profile of their suppliers and supply chain. It captures, tracks and reports on the credentials of suppliers, that are the strongest indicators of whether a supplier is taking action on sustainability.
Givvable covers local to global and SME to MNC suppliers, ensuring it has the widest coverage of supplier sustainability data globally.Givvable will help you:screen your existing suppliers and identify gaps for improvementvet new suppliers at RFP, onboarding or renewalfind new suppliers via the givvable search platformbuild capability in your suppliers through learning tools, modules and badges
Terrascope is an end-to-end decarbonisation platform that enables enterprises to measure and manage their Scope-1, Scope-2 and Scope-3 emissions across operations, supply chains, and portfolios.
There is a wide range of software, carbon management tools, reporting questionnaires and benchmarking tools on the market to support sustainability efforts. Many of these facilitate integration, pulling data from other systems to reduce manual effort, and offer visually appealing dashboards to present performance.
For SMEs, such solutions can be costly and should not be a deterrent. For example, the most relevant calculations of your carbon footprint can be done with the GHG Protocol Excel-based tool available online!
Reduce by 30% per capita per day
is Singapore's 2030 target for waste to landfill
(SG Green Plan)
We are a decarbonization software focussing on automating the emission measurement of Scope3 emissions, specialising in Asia Pacific supply chains.
Operates in: APAC
Terrascope is an end-to-end decarbonisation platform that enables enterprises to measure and manage their Scope-1, Scope-2 and Scope-3 emissions across operations, supply chains, and portfolios.
Asuzero is a comprehensive platform for enterprises aiming to achieve net-zero and combat the global climate crisis. Our unique value proposition lies in offering a one-stop solution that educates and guides customers on their decarbonization journey.
We provide bespoke consulting services to help organisations understand their carbon footprint and greenhouse gas (GHG) emissions across all three scopes. By addressing Scope 3 emissions, we assist customers in engaging with their vendors and conducting assessments to accurately calculate and offset their emissions.
Furthermore, our platform offers Life Cycle Assessment (LCA) and Supply Chain functions to help manage sustainability performance and track progress towards sustainability goals.
As a certified provider by CDP and TCFD, we are authorised to issue sustainability ratings for companies and products, highlighting their level of sustainability performance. Asuzero enables enterprises to take decisive action, drive momentum, and work towards a sustainable, low-carbon future.
Operates in: Singapore, Japan, Thailand, Hong Kong
STACS is a Singaporean ESG fintech firm partnering with the local Monetary Authority of Singapore (MAS) to develop a ESG data registry, ESGpedia. Its version 2.0, launched in May 2023, has greater data coverage, enhanced solutions and analytics as well as assessment tools, to help financial institutions, corporates and SMEs achieve their decarbonisation and strategic sustainability goals.
Zuno is a pioneer in decarbonisation, carbon & ESG management. Our tech platform helps leading organization measure, reduce and report their carbon emissions and ESG performance. Powering you towards your sustainability goals, one step at a time.
PALO IT is an international consultancy specialised in Human-Centered Design, Agile Software Development and in the Transformation of forward-thinking companies. They are a certified B Corporation, which means they harness the power of innovation and technology for positive social impact.
Internal audits:
Internal auditors will ensure the compliance with the latest sustainability reporting standards. The Singapore Stock Exchange (SGX) requires sustainability information to be verified by internal auditors.
They will ensure the integrity of the sustainability information and reporting processes and guard against greenwashing.
External Audits and Certifications:
If you want to have access to green financing tools, your sustainability reporting will be audited.
Consider obtaining third-party certifications or conducting external audits to validate your sustainability efforts. Certifications such as LEED (Leadership in Energy and Environmental Design) or B Corp can demonstrate your commitment to sustainability and provide credibility to stakeholders.
You can also find support and certification services for carbon accounting (including the integration of externalities) and carbon tax from external audit firms.
10%
of SGX-listed companies have had their sustainability reports audited for FY2022
(EY)
Terrascope is an end-to-end decarbonisation platform that enables enterprises to measure and manage their Scope-1, Scope-2 and Scope-3 emissions across operations, supply chains, and portfolios.
At Tulyā, we are accredited sustainability consultants holding certifications in GRI, SASB and TCFD (now IFRS-ISSB), and ISO 14064 GHG Lead Verifiers, alongside being Singapore Certified Management Consultants. We are dedicated to driving sustainable business development across industries through Sustainable Management Accounting.
We help MNCs with:
We help SMEs with:
SustainableSG was started in September 2018 to accompany companies, non-profit entities and government agencies to review and implement effective and sustainable corporate strategies. Our services include:
Sustainao supports companies in their sustainability journey by building an impactful strategy, embedding sustainable practices across operations, and reporting performance to stakeholders.
Our sustainability consulting services are designed in a continuous improvement process:
Zuno is a pioneer in decarbonisation, carbon & ESG management. Our tech platform helps leading organization measure, reduce and report their carbon emissions and ESG performance. Powering you towards your sustainability goals, one step at a time.
Terrascope is an end-to-end decarbonisation platform that enables enterprises to measure and manage their Scope-1, Scope-2 and Scope-3 emissions across operations, supply chains, and portfolios.
Embarking on the sustainability journey requires a change of mindset from everyone in the organisation. For any company to adopt a long-term integrated sustainability strategy, a top-down approach would be the preferred starting point. Top management needs to evaluate options, decide what to focus on and develop a strategy.
"Small actions can make a big difference" - Unilever's sustainability slogan. Sustainability in a company is a top-down approach and employees are your internal stakeholders. To drive a sustainable agenda and truly integrate it into the ethos of the organisation, companies can consider the following points:
* Define the purpose:
Clearly articulate the purpose of the sustainability agenda and what you hope to achieve. This will help employees stay focused and aligned on the goals.
* Communicate progress:
Regularly communicate the progress of the sustainability initiatives to the employees and encourage everyone to get involved in these activities.
* Analyse social KPIs:
Regularly assess the progress of your sustainability initiatives and make adjustments where necessary. Consider which KPIs, such as employee retention, productivity, and overall employee engagement, should be tracked alongside sustainability initiatives and their impact on the costs. This will help ensure that your efforts are having the desired impact and that your organisation remains on track for sustainability.
* Incentivise:
Employees are the backbone of any business. Every employee action counts. Celebrate the successes by linking these actions to a reward system within the organisation. This will help keep everyone motivated and engaged in the effort. It will also ensure that the effort is not just a one-off activity, but a continuous improvement over time.Enable and incentivise team leaders to be sustainability champions, establish communication channels within the respective business functions and teams.
* Create a sense of belonging:
Helping employees see the business case for operating in a more sustainable way is not always easy, but it is critical. Create a dual mindset among the employees about 'doing good' and 'doing well' through the company’s long-term purpose, values and transparent communication.
23% higher profitability
for companies with a highly engaged workforce
(Gallup)
14% higher productivity
for companies with a highly engaged worforce
(Gallup)
TMI resources and solutions:
- Employees Engagement, Development and Training
Articles:
- HBR - How to talk to your CFO about sustainability
- Stanford Social Innovation Review - Engaging Employees to Create a Sustainable Business
- HBR - How to Make Sustainability Every Employee’s Responsibility
SustainableSG was started in September 2018 to accompany companies, non-profit entities and government agencies to review and implement effective and sustainable corporate strategies. Our services include:
At Tulyā, we are accredited sustainability consultants holding certifications in GRI, SASB and TCFD (now IFRS-ISSB), and ISO 14064 GHG Lead Verifiers, alongside being Singapore Certified Management Consultants. We are dedicated to driving sustainable business development across industries through Sustainable Management Accounting.
We help MNCs with:
We help SMEs with:
Sustainao supports companies in their sustainability journey by building an impactful strategy, embedding sustainable practices across operations, and reporting performance to stakeholders.
Our sustainability consulting services are designed in a continuous improvement process:
Green Nudge is a social enterprise that supports businesses and communities to achieve positive environmental impact through activities such as coastal cleanups and workshops, outreach talks and sustainability consulting.
By raising awareness and co-creating call-to-actions with various stakeholders on sustainability efforts, Green Nudge aims to create a normative shift in the way we create and deal with waste to achieve a low carbon, zero waste future for Singapore.
South Pole has been at the forefront of decarbonization since 2006, developing and implementing comprehensive strategies that turn climate action into long-term business opportunities for Fortune 500 companies, governments and organizations around the world.
South Pole is more than a consultancy, its team of 1,200+ experts have developed projects, as well as designed innovative tools across finance, climate neutral APIs, and carbon offset solutions to help clients reach their carbon mitigation and Net Zero goals.To date South Pole has worked with over 1,000 clients, and will soon have developed 800 offset projects across 30 offices globally.
Our solutions have created tens of thousands of jobs in developing countries, hundreds of millions of dollars for business, improved brand value and better living and working conditions for countless people in vulnerable communities around the world.
Humans Matter is a forward-thinking agency committed to creating positive change through innovative and evidence-based approaches. We help organizations design and implement sustainable transformations in different arenas: mission and strategy, culture and people, skills and talent management, and innovation leveraging a solid expertise in both business matters and cognitive science.
Powered by 140+ employees with a wide range of expertise (neuroscientists, researchers, designers, consultants, pedagogic engineers, developers, etc.), we accompany your mindset, culture and behavioral transformation in the domains of @work, @health, @learn and @society.
Operates: Worldwide
The CFO and the finance function are often ideally placed to take the lead on sustainability accounting because they are numbers-oriented, know the ins and outs of the business, understand how to meet reporting and external requirements, and manage relationships with banks and investors.
By taking an active role in sustainability, they will help organisations adopt more sustainable business practices and advance the sustainability agenda. With some upskilling in sustainability reporting, they will be ready to increase the weight and importance of sustainability information and link it to the P&L in terms of risks and opportunities, cost reduction (carbon emissions, waste management, electricity consumption, etc.), long-term value creation, etc.
There are different roles within the finance function. Depending on the size of your organisation, the roles below may be performed by a limited number of people:
Business analysis / management controlling will use their expertise to measure, analyse and report on the organisation's sustainability performance, helping to ensure that sustainability data is accurate and reliable. As business partners, they provide operational departments with the data and insights to make informed decisions, help monitor risks and capitalise on opportunities.
Accounting is well equipped to integrate sustainability data into financial reporting for accountability purposes. They have a good understanding of business intelligence tools and software migration.
Internal audit relies on in-depth knowledge of business processes and regulatory requirements. They will help identify the economic, social and environmental impacts of the company's activities and assess business risks. They will ensure that processes comply with governance and regulatory requirements, are efficient, known and regularly applied correctly, and that the resulting data is reliable. In smaller organisations, this role may be performed by any function that is not directly involved in collecting or processing the data. Create a checklist of what evidence you will look for to demonstrate that agreed tasks and commitments are being carried out.
Risk management helps organisations identify and manage sustainability-related risks, such as reputational, regulatory and physical risks, by providing advice on how to minimise these risks and prepare for potential challenges.
Professional development and sustainability literacy: In order to provide ongoing and effective support, it is important for finance to stay abreast of sustainability-related issues and trends by participating in continuing education and training opportunities. They also play a key role in promoting sustainability literacy within their organisations and beyond, helping to build a broader understanding of the importance of sustainable business practices.
+ 24%
in profit margins for companies who invest in training
(Huffpost)
50%
of all employees will need reskilling by 2025
(World Economic Forum)
References:
- Article Business Times - Accountants play crucial role in driving sustainability: Grace Fu
- Blog Tulya - “Accountants will save the world”
- Paper ISCA & SMU - Sustainability: Jobs and Skills For the Accountancy Profession
Examples of trainings and certifications to make your team ready to act in Sustainable Finance and Sustainability Accounting:
- ISCA Sustainability Professional Certification: 55hrs. ISCA Sustainability Assurance Professional Certification: 85hrs. Both ISCA programmes are co-funded by ACRA
- Green Bond trainings made by Climate Bond Initiatives. 1 full day if it is in-person or 7,5hr if it is via Zoom.
- Green and Sustainable Finance 101: 2 days classes at SMU Singapore.
- Sustainable and Green Finance, 1 full day class in person or in zoom.
- Course on sustainability reporting, 2 half days, in person in Singapore.
- Course on Sustainability reporting, 2 full days on zoom or in person.
Keep up to date with standards and regulations:
At Tulyā, we are accredited sustainability consultants holding certifications in GRI, SASB and TCFD (now IFRS-ISSB), and ISO 14064 GHG Lead Verifiers, alongside being Singapore Certified Management Consultants. We are dedicated to driving sustainable business development across industries through Sustainable Management Accounting.
We help MNCs with:
We help SMEs with:
ACTIVATE - DESIGN - ACCELERATE. Our expert consulting services and trainings help business leaders understand the complexities of sustainability, consider climate- and nature-related risks and opportunities to make informed decisions and alleviate the administrative burdens of:
We work directly with SMEs or collaborate with other sustainability consulting companies on specific projects. We are actively involved in networks of sustainability professionals who share knowledge with public and educate other professionals to bring awareness and accelerate the transition in Singapore and worldwide (incl. The Matcha Initiative, Climate Fresk, etc.).
Our unique strength stems from understanding sustainability from the risk management perspective, creating a business case and using financial reasoning to adopt sustainable business practices and decarbonize.
Operates in: Singapore
Sustainao supports companies in their sustainability journey by building an impactful strategy, embedding sustainable practices across operations, and reporting performance to stakeholders.Our sustainability consulting services are designed in a continuous improvement process:
SustainableSG was started in September 2018 to accompany companies, non-profit entities and government agencies to review and implement effective and sustainable corporate strategies. Our services include:
Because sustainability requires systemic change and an entire organisation to change, silos need to be broken down.
Create cross-functional teams:
While finance can enable internal decision-making through capital and resource allocation and monitor the company's financial performance, marketing and communications teams, which are at the heart of enabling the flow of business between internal teams and external stakeholders, can drive stakeholder management and build awareness through narratives.
Working closely with operations, risk management and product development teams will help ensure that the company's sustainability efforts are integrated into all aspects of the business.
Cross-functional alignment will also give teams a good overview of the issues that are material to the business, improve employees' understanding of the company's progress and challenges, and strengthen the narratives to stakeholders.
only 40%
of the bigger companies implement compensation schemes related to sustainability performance for leadership teams
(KPMG)
over 80%
of ESG investors and advisors are establishing dedicated in-house ESG teams
(Acuity)
References :
- Article Forbes - Greenwashing And Sustainability In Business Marketing And Communications
- Article Straight Times - To fight greenwashing and walk the talk, going for awards in sustainability helps: Amy Khor
- Entreprise Singapore - Improve your company’s value proposition and learn how you can develop marketing strategies to drive competitiveness and sales
- Sustainability marketing - sustainable marketing how should you use it and sustainable marketing
- Diligent.com - how to achieve effective cross alignment for your organization in three steps
Sustainao supports companies in their sustainability journey by building an impactful strategy, embedding sustainable practices across operations, and reporting performance to stakeholders.
Our sustainability consulting services are designed in a continuous improvement process:
SustainableSG was started in September 2018 to accompany companies, non-profit entities and government agencies to review and implement effective and sustainable corporate strategies. Our services include:
At Tulyā, we are accredited sustainability consultants holding certifications in GRI, SASB and TCFD (now IFRS-ISSB), and ISO 14064 GHG Lead Verifiers, alongside being Singapore Certified Management Consultants. We are dedicated to driving sustainable business development across industries through Sustainable Management Accounting.
We help MNCs with:
We help SMEs with:
ACTIVATE - DESIGN - ACCELERATE. Our expert consulting services and trainings help business leaders understand the complexities of sustainability, consider climate- and nature-related risks and opportunities to make informed decisions and alleviate the administrative burdens of:
We work directly with SMEs or collaborate with other sustainability consulting companies on specific projects. We are actively involved in networks of sustainability professionals who share knowledge with public and educate other professionals to bring awareness and accelerate the transition in Singapore and worldwide (incl. The Matcha Initiative, Climate Fresk, etc.).
Our unique strength stems from understanding sustainability from the risk management perspective, creating a business case and using financial reasoning to adopt sustainable business practices and decarbonize.Operates in: Singapore
Understanding the science behind sustainability challenges is key for you and your team to engage people and reduce the cognitive biases that affect our perceptions of climate change.
General awareness sessions such as lunch&learn talks can also help you identify future champions to integrate into your green team. Find ideas for lunch&learn, videos to share, workshops and talks... on The Matcha Initiative Sustainability Engagement Kit.
Workshops to calculate the footprint of individual lifestyles (Individual Ecological Footprint) and identify key levers to learn, reduce and change habits are highly recommended. They contribute to give coherence to your corporate sustainability strategy and encourage people to take actions as a powerful tool against eco-fear.
Creating a sense of belonging with green communities to share experiences and debate with others is also proving useful.
Browse The Sustainable HR section of Matcha Initiative for more solutions.
2 tonnes of CO2e
is the individual annual GHG emissions budget for a CO2 neutral world in 2050
(2tonnes.org)
8 tonnes of CO2e
is the current GHG emisions generated by a Singapore Resident annually
(Straitstimes)
Some articles to read from our resources section:
- Why it is important to act now
- Carbon footprint & the race to zero
- What I can do on a personal level
A must-see:
- Why Singapore is heating up twice as fast as the rest of the world - 5' excerpt - CNA Insider (5 min.)
More videos and MOOC suggestions on The Matcha Initiative Toolbox
ACTIVATE - DESIGN - ACCELERATE. Our expert consulting services and trainings help business leaders understand the complexities of sustainability, consider climate- and nature-related risks and opportunities to make informed decisions and alleviate the administrative burdens of:
We work directly with SMEs or collaborate with other sustainability consulting companies on specific projects. We are actively involved in networks of sustainability professionals who share knowledge with public and educate other professionals to bring awareness and accelerate the transition in Singapore and worldwide (incl. The Matcha Initiative, Climate Fresk, etc.).
Our unique strength stems from understanding sustainability from the risk management perspective, creating a business case and using financial reasoning to adopt sustainable business practices and decarbonize.
SusGain is a free mobile app that incentivizes people in Singapore to adopt more sustainable lifestyle habits. Users collect points for eco-friendly habits, earn cash back rewards at eco conscious businesses and automatically support initiatives for sustainable development with each spend.
It's our mission to empower all stakeholders in Singapore to drive the change towards more sustainability.
Our mission is to empower businesses to embrace sustainability and improve environmental and social impacts through the employee engagement and change management programs we provide.
Green Nudge is a social enterprise that supports businesses and communities to achieve positive environmental impact through activities such as coastal cleanups and workshops, outreach talks and sustainability consulting. By raising awareness and co-creating call-to-actions with various stakeholders on sustainability efforts, Green Nudge aims to create a normative shift in the way we create and deal with waste to achieve a low carbon, zero waste future for Singapore.
Our mission is to raise awareness about climate change as the defining problem of our time, and mobilize people into action. We believe that information precedes action, and that when people are empowered with enhanced knowledge, better decisions are made.
Our interactive and collaborative workshop is an entirely different way to learn about the science of climate change. The workshop is based on a 42 cards game based on the IPCC reports. In just 3 hours, participants gain a fundamental overview of climate change, the impacts it is having now and in the future, and what we can do about it.
The Matcha Initiative is a Singaporean non-profit, a network of sustainability practitioners who share their expertise to create a ripple effect. We educate the public through our online platform, thematic evenings and masterclasses. We also cooperate with companies to upskill their employees through tailored workshop, trainings and lunch & learn discussions.
Carbon Management is a new field for most yet we do not have enough time to wait for the next generation to be educated about it. It is therefore vital to help your employees to quickly grasp the concepts of carbon management and become experts.
There are many workshops and trainings courses available on this subject. Check out The Matcha Initiative's dedicated page to find out when the next public masterclass is, attend a two-day training session at a Continuing Learning Centre or organise an in-house training session with a training provider.
50%
of all employees will need reskilling by 2025
(weforum.org)
Sustainao supports companies in their sustainability journey by building an impactful strategy, embedding sustainable practices across operations, and reporting performance to stakeholders. Our sustainability consulting services are designed in a continuous improvement process:
We are passionate about people, the environment, and technological progress. We anticipate technological developments and facilitate change – defining standards and going beyond regulatory compliance. Staying true to our founding principle, we add value by creating a safer and more sustainable future.
Carbon emission verification ISO 14064, LCA ISO14067, Green Compass Trainer, other sustainability courses from TUV SUD Academy, Energy audits
SustainableSG was started in September 2018 to accompany companies, non-profit entities and government agencies to review and implement effective and sustainable corporate strategies. Our services include:
Zuno is a pioneer in decarbonisation, carbon & ESG management. Our tech platform helps leading organization measure, reduce and report their carbon emissions and ESG performance. Powering you towards your sustainability goals, one step at a time.
South Pole has been at the forefront of decarbonization since 2006, developing and implementing comprehensive strategies that turn climate action into long-term business opportunities for Fortune 500 companies, governments and organizations around the world.
South Pole is more than a consultancy, its team of 1,200+ experts have developed projects, as well as designed innovative tools across finance, climate neutral APIs, and carbon offset solutions to help clients reach their carbon mitigation and Net Zero goals.
To date South Pole has worked with over 1,000 clients, and will soon have developed 800 offset projects across 30 offices globally.
Our solutions have created tens of thousands of jobs in developing countries, hundreds of millions of dollars for business, improved brand value and better living and working conditions for countless people in vulnerable communities around the world.
We are a decarbonization software focussing on automating the emission measurement of Scope3 emissions, specialising in Asia Pacific supply chains.
Operates in: APAC
Strengthen your sustainability strategy by building an engaged workforce: through collective brainstormings, trainings... but also compensation & green KPIs...
Make sure all employees are aware of your sustainability targets & commitments. Through workshops and ideathons, they will be the ones to identify the relevant carbon reduction actions for your business.
Browse our Sustainable HR section on Employee Engagement for ideas.
Include sustainability goals in your Employee Performance Management. This will ensure alignment, clarity and focus on results for your carbon management and sustainability journey.
Browse our Sustainable HR section on Performance, Reward and Recognition for how to implement it.
Our mission is to empower businesses to embrace sustainability and improve environmental and social impacts through the employee engagement and change management programs we provide.
We support teams and organisations in developing resilience - integrating social and environmental value as a core strategic imperative. Together, we build in more sustainability. We focus on 3 areas to optimise and create the enabling conditions for the change we need to transform our world.
Awareness:
Navigating complexity, Strategic conversations and aligning action through
Support you and your team to envision and understand implications and possibilities through
Sustainao supports companies in their sustainability journey by building an impactful strategy, embedding sustainable practices across operations, and reporting performance to stakeholders. Our sustainability consulting services are designed in a continuous improvement process:
SustainableSG was started in September 2018 to accompany companies, non-profit entities and government agencies to review and implement effective and sustainable corporate strategies. Our services include:
Zuno is a pioneer in decarbonisation, carbon & ESG management. Our tech platform helps leading organization measure, reduce and report their carbon emissions and ESG performance. Powering you towards your sustainability goals, one step at a time.
The Matcha Initiative is a Singaporean non-profit, a network of sustainability practitioners who share their expertise to create a ripple effect. We educate the public through our online platform, thematic evenings and masterclasses. We also cooperate with companies to upskill their employees through tailored workshop, trainings and lunch & learn discussions.
There are many advantages to being an early mover in sustainable business development in Singapore. One of these is the opportunity to benefit from available grants. See in the resource section, all public funds and grants available in Singapore.
Here are some of them:
- Enterprise Development Grant (EDG)
Under EDG, Enterprise Singapore has included a sustainability component in business strategy development which includes:
** Environmental, Social, and Governance Reporting Framework Development,
** Sustainability Risk Assessment, Material Foot printing,
** Sustainability Strategy Development, and
** Sustainability Value Creation.
Companies applying for EDG support for consultancy-related costs must engage management consultants with Enterprise Singapore-recognised certification. Applications will be assessed by Enterprise Singapore based on project scope, project outcomes and competency of the service provider. Learn more
- SG Eco Fund
The SG Eco Fund was launched by Singapore's Ministry of Sustainability and Environment and is open to the private and public sectors. With a total value of S$50 million, it includes 2 categories: Sprout and Main. If your green project has significant environmental impact, works with the community and has not received funding from other government sources, this is a great opportunity for you, please follow the link below to start your application:
- 3R Fund
The 3R Fund is a co-funding scheme open to all organisations in Singapore. If your business is focused on implementing waste minimisation and recycling projects, please follow the link below to start your application:
1) Eligibility & Application Process
- Energy Efficiency Fund
If your company owns or operates an industrial facility and is also a partner in the National Energy Efficiency Partnership Programme. Please follow the link below to start your application:
2）Application Process: please email: NEA_E2F@nea.gov.sg
- Water Efficiency Fund
Water Efficiency Fund was launched by PUB, supports research on water waste management, from exploration to implementation.
up to 125 000$
grant for eligible expenses if the issuer has complied with any internationally-recognised disclosure standards.
(MAS)
up to 30 000$
grant for energy-efficiency equipment
(GoBusiness Singapore)
At Tulyā, we are accredited sustainability consultants holding certifications in GRI, SASB and TCFD (now IFRS-ISSB), and ISO 14064 GHG Lead Verifiers, alongside being Singapore Certified Management Consultants. We are dedicated to driving sustainable business development across industries through Sustainable Management Accounting.
We help MNCs with:
We help SMEs with:
SustainableSG was started in September 2018 to accompany companies, non-profit entities and government agencies to review and implement effective and sustainable corporate strategies. Our services include:
Zuno is a pioneer in decarbonisation, carbon & ESG management. Our tech platform helps leading organization measure, reduce and report their carbon emissions and ESG performance. Powering you towards your sustainability goals, one step at a time.
Green Loans are made to finance a 'green project' that promotes environmental sustainability. A green project can be anything that has a clear environmental benefit. Green loans can help the business to access liquidity and better economic conditions. You can read more on the World Bank and DBS resources to understand the basics of a Green Loan. The Green Loan Principle Framework allows businesses to clearly understand the characteristics of a Green Loan.
In the region, EFS-Green and its partner financial institution, CIMB, are facilitating greater access to green finance for companies developing technologies and solutions that reduce waste, resource consumption or greenhouse gas emissions, particularly in the clean energy, circular economy, green infrastructure and clean transport sectors. Banks in Singapore are also encouraged to develop green and sustainability-linked lending frameworks to make such financing more accessible to small and medium-sized enterprises (SMEs).
Once you have a clear idea of your funding needs, it is advisable to look at the green and sustainability-linked loan schemes in Singapore that may be available to you to secure some funding for your projects.
90%
of the costs incurred by SMEs applying for green loans could be covered
(MAS)
70% risk-share
could be provided by EnterpriseSG to facilitate lending by partner financial institutions.
(Enterprise SG)
- Sustainability-related policies list in Singapore
- The Appendix 1 of Green Loan Principles from the Loan Market Association
- Qualifying Borrower Types for EFS-Green
- Financial Institution contact list
ACTIVATE - DESIGN - ACCELERATE. Our expert consulting services and trainings help business leaders understand the complexities of sustainability, consider climate- and nature-related risks and opportunities to make informed decisions and alleviate the administrative burdens of:
We work directly with SMEs or collaborate with other sustainability consulting companies on specific projects. We are actively involved in networks of sustainability professionals who share knowledge with public and educate other professionals to bring awareness and accelerate the transition in Singapore and worldwide (incl. The Matcha Initiative, Climate Fresk, etc.).
Our unique strength stems from understanding sustainability from the risk management perspective, creating a business case and using financial reasoning to adopt sustainable business practices and decarbonize.Operates in: Singapore
Green bonds are public debt financing for an environmental project. Green bonds can offer tax advantages, providing incentives to invest in sustainable projects that are not available to other comparable types of bonds. However, as the frameworks for green bonds and green loans are similar in nature, a green loan is based on a loan, typically smaller than a bond, in a private transaction, and the funds from green bonds are committed to environmental or climate change projects, such as investments in renewable energy.
In Singapore, MAS will subsidise up to S$100,000 of additional costs for external audits of eligible green, social, sustainability and sustainability-linked bonds, and encourages the adoption of internationally accepted standards for green bonds of a minimum size of $200 million.
Other references for Green Bonds:
- Green Bonds - the reserve management perspective
- ICMA - Voluntary Process Guidelines for Issuing Green Bonds
- Sustainalytics - Simplifying Sustainable Finance – Explaining Green Bonds, Green Loans, Sustainability Linked Loans and Bonds and More
- Sustainalytics - Sustainability-Linked Financial Instruments: Creating Targets and Measuring Your Company's Performance
SGD$ 35 billions
of green bonds will be issued by Singapore Governement before 2030.
(Green Denmark SEA)
+ 50%
in Green Bonds supply in Singapore in 2021
(SMU -Singapore Management University)
SustainableSG was started in September 2018 to accompany companies, non-profit entities and government agencies to review and implement effective and sustainable corporate strategies. Our services include:
ACTIVATE - DESIGN - ACCELERATE. Our expert consulting services and trainings help business leaders understand the complexities of sustainability, consider climate- and nature-related risks and opportunities to make informed decisions and alleviate the administrative burdens of:
We work directly with SMEs or collaborate with other sustainability consulting companies on specific projects. We are actively involved in networks of sustainability professionals who share knowledge with public and educate other professionals to bring awareness and accelerate the transition in Singapore and worldwide (incl. The Matcha Initiative, Climate Fresk, etc.).
Our unique strength stems from understanding sustainability from the risk management perspective, creating a business case and using financial reasoning to adopt sustainable business practices and decarbonize.
Operates in: Singapore
A business angel (also known as an angel investor) is an individual or group of individuals who invest a percentage of equity in early stage or start-up businesses. As with banks, entrepreneurs need a strong business plan. However, angel investors can offer different levels of funding and are usually more flexible than traditional banks. One of the benefits that some angel investors bring to the relationship is that they often act as mentors as well as providing seed funding and investment.
In Singapore today, there are many ways to find a business angel who specialises in sustainability, or to attract one using the green aspect of your business. What they are most interested in is making sure that the company is not greenwashing, but also that the company is not emitting too much CO2. These are the 2 main KPIs that investors are looking for.
Some business angels are SEC (Securities Exchange Commission) accredited. Being accredited by the SEC is a very good indicator of whether the business angel can provide funding to the company.
Other Reference links:
- Globis Insights - The Golden Rules for Pitching Sustainability to Angel Investors
4 months
is the average lead time for a business angel to consider an investment opportunity, compared to 5-6 months for venture capitalists
(Sustainable Business)
The most used website to meet these experts in Singapore is The Investment network where you can find more than 200 Business Angel based in Singapore with experiences in Sustainability.
When communicating with stakeholders, it is important to link your sustainability efforts to the company's ability to create long-term value. Sustainability reporting alone will not help investors understand long-term value creation. What is needed is an explanation of how environmental and social impacts are linked to economic performance.
Integrated Reporting <IR>, now part of the IFRS Foundation, can be a valuable framework to help you think about the business long-term value creation, and how to communicate about it to the board, banks and investors. Read more on our sustainability reporting resource.
Integrated Reporting is based on Integrated Thinking, which revolves around the relationships between the organisation and the different types of capital: Financial, Manufactured, Natural, Human, Social, and Intellectual capital.
Analysing how the different natures of capital are affected by the company's operations will improve the quality of the reporting and make the allocation of investments more efficient and sustainable.
30%
of Asia-Pacific companies published an integrated report in 2022, a rate +5pt higher than 2020
(KPMG survey among N100 companies)
South Pole has been at the forefront of decarbonization since 2006, developing and implementing comprehensive strategies that turn climate action into long-term business opportunities for Fortune 500 companies, governments and organizations around the world.
South Pole is more than a consultancy, its team of 1,200+ experts have developed projects, as well as designed innovative tools across finance, climate neutral APIs, and carbon offset solutions to help clients reach their carbon mitigation and Net Zero goals.
To date South Pole has worked with over 1,000 clients, and will soon have developed 800 offset projects across 30 offices globally. Our solutions have created tens of thousands of jobs in developing countries, hundreds of millions of dollars for business, improved brand value and better living and working conditions for countless people in vulnerable communities around the world.
The « green journey » may feel overwhelming sometimes, but you are not alone.
Our Buddies have tried, succeeded, failed to implement change in their companies. They share their experience so you can learn, take shortcuts, get inspired and ask questions.
Everybody can become a Buddy and give back to the community; if you are keen, get in touch with us.
Radhika is the Co-founder of Tulyā, A Sustainability Management Accounting (SMA) Services company. Her work includes measurement and understanding of the impact environmental and social factors will have on the value creation for SMEs. She develops tailored tools and practices that integrate material topics (ESG & Business) with accounting statements line items to demonstrate financial impact of action vs inaction.
She has worked with Lehman Brothers, Barclays and IT services companies before starting her entrepreneurial journey in sustainability.
She is a graduate in Chemical Engineering and has been certified in SASB , PMP, CSM & Design Thinking-MIT.
I enjoy improving processes and creating data-driven insights. My background is in process development and operations as Quality Manager and COO. A few years back, I decided to re-purpose my career and have since then studied different aspects of Sustainable Business Development at the University in Sweden as well as the Sustainability Reporting Standards (GRI, SASB, TCFD and ISSB work in progress).
Now, I am here to help SMEs integrate sustainability into their business strategy and operations, focusing on the impact that environmental and social aspects will have on the organisation's ability to create value. By reducing the scope to the most relevant materiality topics, even SMEs with limited resources have a chance to start their transition to more sustainable practices.
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At South Pole, Chris supports Asian clients in their climate leadership and circular economy journey. The scope of services includes both carbon credits & sustainability consultancy. Chris currently manages clients from more than 10 Asian countries in categories such as conglomerate, agriculture, property development, asset management, retailing, information technology, and energy.
Wearing the double hat of finance and sustainability, I support finance departments in their transformation towards sustainability. With a management degree from a top business school in France, I have a multi-faceted experience from complementary positions I have held in business finance: from auditor to consolidation accountant, project manager, management controller and finance director.
In addition to my background in financial business partnering, I am passionate about enabling change in companies, always looking after my teams and colleagues to create the conditions for collective success.
I work at Terrascope, which offers an end-to-end decarbonisation SaaS platform that enables enterprises to measure and manage their Scope-1, Scope-2 and Scope-3 emissions across operations, supply chains, and portfolios. As Climate Regulations Specialist, I help ensure that our product stays ahead of the regulatory curve and advise clients to navigate the dynamic and complex climate regulatory landscape.
Prior to joining Terrascope, I worked at EcoVadis - a global ESG ratings company - where I launched its Singapore office which served more than 800 companies within its first year of operations. The ratings include environmental, social, ethics and sustainable procurement metrics.
I started my career with the Singapore Government, spanning portfolios including manpower, education, transport and decarbonisation. I also helped spearhead the government's measures to fight Covid-19.
I graduated from the London School of Economics, SciencesPo Paris, and Oxford University. As an undergraduate at Oxford, I helped launch the inaugural Oxford Climate Forum - the UK's largest student-run climate change event.
With a background in sustainability consulting and audit, Ivona supports businesses in their sustainability journey by building an impactful strategy, embedding sustainable practices across operations, and reporting performance to stakeholders.
She is the founder of Sustainao, a Singapore-based company specialized in sustainability consulting. Previously, Ivona worked as a sustainability auditor at KPMG France. She holds an MBA in CSR & Sustainability and a Master’s degree in Environmental Management.
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As the Senior Programme Manager for Sustainability Validation and Verification at TÜV SÜD, Mei Yee helps organisations add credibility and assurance to their greenhouse gases (GHG) emission assertations and GRI reports by providing third-party verification reports to support organizational claims.
She has six years of experience in the standards development of ISO 30500 and ISO 31800, testing, and certification for non-sewered sanitation systems. Prior to that, Mei Yee spearheaded World Toilet Organization's Rainbow School Toilet projects in China and Sanishop in Cambodia. She is passionate about driving corporate social responsibility and sustainability and has spent more than 18 years in various fields working internationally across teams and cultural boundaries before turning her focus on Singapore to helping companies with their carbon reduction journey. She holds a Masters in Community Water and Sanitation and a Science Degree in Earth Science, majoring in geology and physical geography.
She is a certified WSQ Advanced Certificate in Learning and Performance (ACLP) Train-The-Trainer (TTT). Since then, she has facilitated many companies in the training for Green Compass – An environmental assessment framework targeted at SME/ manufacturing industries.
Zuzana is experienced risk management consultant, project manager and trainer. She is Director at Tamotsu Institute, a sustainability consulting firm, and Programme Lead for corporate trainings at The Matcha Initiative. She views sustainability from the risk management perspective, making companies aware of the financial risks and opportunities involved.
She has studied Sustainability Leadership at the Imperial College of London and is certified in Sustainability and Climate Risk by the Global Association of Risk Professionals (GARP) and in Recommendations of the Task force for Climate-related Financial Disclosure by the TCFD.
Mun Wei is the founder and principal consultant of SustainableSG, which provides advisory and training services in sustainability, strategy, risk and entrepreneurship.
He has worked with corporate, government and non-profit clients on strategy and implementation, reviewing organizational programmes and targets related to the UN Sustainable Development Goals, benchmarking and communicating sustainability and other corporate programmes and achievements, promoting inclusive hiring, developing compliance policies and reports, and formulating innovative business models.
He is also an Adjunct Lecturer at the Singapore University of Social Sciences.
Of French, Swiss and Filipino descent, I am a versatile purpose-driven leader with experience across a range of industry sectors. I have built a global career as a Marketing & Communications specialist and Social Entrepreneur intent on solving some of the world's most pressing issues.
Today, I run my own consultancy business helping clients define their purpose, develop their marketing, communications, CSR and sustainability strategies and I am also a Board Member and Advisor to several purpose-led organisations in the Social Impact, ESG, Fintech and Cellular Agriculture spaces.
I am Naomi, currently co-founder & director of givvable. I started my career as an Australian diplomat with postings in East Timor, Thailand and Switzerland then moved into private banking where my interest in ESG and sustainability was seeded.
Today my company helps businesses screen and track the sustainability profile of their suppliers to help them achieve their goals and targets.
Li Seng is the founder of Green Nudge, a social enterprise that supports businesses and communities to achieve positive environmental impact through activities such as coastal cleanups and workshops, outreach talks and sustainability consulting. By raising awareness and co-creating call-to-actions with various stakeholders on sustainability efforts, Green Nudge aims to create a normative shift in the way we create and deal with waste to achieve a low carbon, zero waste future for Singapore.
Li Seng’s previous experience in the public sector in the central bank of Singapore dealing with financial regulations, combined with his current roles in the community and social enterprise sector reinforced his belief that effective public policies need to be supported by ground-up actions and engagement. Playing an interfacing role within the tri-sector, Li Seng is able to provide sectoral knowledge through a system thinking lens to make informed decisions and strategies. He is happy to discuss disposables, sustainability of events, public education, and is familiar with corporate social responsibility and community / youth engagement.
As a sustainability communicator and content writer, I believe in the power of words to drive real change. With my background in corporate operations, I understand how to optimize from the inside out. Since pivoting to sustainability, I've become versed in ESG standards such as the PRCA and GRI to cut through greenwashing and foster transparency.
Now I apply my technical knowledge and passion for authentic messaging to help companies communicate their sustainability efforts in a strategic, materiality-focused way, both internally and externally. I help organizations to begin their sustainability transition and communicate this to their various stakeholders. I aim to prove that incremental changes, paired with purposeful communications, can transform businesses and communities.
In 2003, I joined International SOS, world leader of medical and security assistance services and relocated to Singapore in 2008 where I have spent my life since. I held different regional leadership roles and I was a founding member of the Sustainability Committee and initially led the S (Social) part. I was also leading the Environment pillar, with a special focus on the Ecovadis certification.
I enrolled at SMU back in Sept 2020 and graduated from the Sustainability and Sustainable Business executive masterclass in Dec 2020. In July 2021, I joined a local singaporean startup H3Dynamics with the ambition to decarbonize the aviation industry! And since May 2023, I am now the managing director AsiaPacific for Ecocert, world leader in certification for organic products. I am also the Singapore Ambassador (volunteer) for Ecomatcher to help brands fight climate change, one tree at a time.
Finally, I am a French Trade Advisor and part of the Sustainability Committee to strengthen bridges between France and Singapore on this crucial agenda.
I have been working in Asia for the past 12 years (Shanghai, Hong Kong and Singapore since 2014) within the digital and technology space.
I have founded and run several companies in different sectors such as IT Consulting, Education, and the F&B business.
I am passionate about how to use technology as a force for good.
I was born in Vietnam and grew up in France in Paris’ low income suburbs. My parents used to bring us to the park to have some outdoor activities and that’s where my father taught my siblings and I to observe, love and respect nature. He gave us perspective on our place in a much bigger ecosystem.
At that time, we didn’t describe our family as “sustainable”. It was very pragmatic, we didn’t waste anything, we mended everything, saved and reused, because we just couldn’t afford not to :)
In 2018 in Singapore, after what felt like a long, unfulfilling professional tunnel on autopilot, I was forced to make a pause and took the opportunity to consider what I really wanted to do with my life (I know this resonates with many!)
Then I really realised how passionate I was about sustainability and for the first time, I considered making it my job. Nothing is easy when you don’t hold the right degrees or the right amount of money, so I co-created The Matcha Initiative to jump into action instead of procrastinating. That’s how you start an amazing experience with amazing people :)
Cherry on the cake: TMI helped me land my current job at Handprint, where we help businesses embrace the next step - Regeneration.
I am Thibaut, French bald since 26 & bold since forever! Right now, I am a 1st time entrepreneur in the making.
I come from an IT & software agency background so deeply into B2B and old-fashioned processes. I came to realize that sustainability cannot be only about consumers and half-measures. I also realized IT Sustainability was much underrated and not understood by most companies. It came quite as a surprise for me since I always considered IT Sustainability as one of the best ways to merge both ROI & Sustainability to make the latter sound acceptable, actionable, and realistic. Having seen that, I wanted to make a change in my own way.
My dedication came from the desire to be able to look my future kids in the eye and tell them that I tried to make the world a better place.
I am also drawn to uncommon & less popular causes, which is why e-waste caught my attention. While it’s not as “buzzy” as plastic waste or consumer recycling, it has the potential to have a greater impact, especially in Asia.
Passionate about sustainability and technology, I have spent the last 10 years working in the energy, tech and sustainability sectors. I am VP of Sales at Zuno Carbon, a climate-tech providing end to end carbon management and ESG reporting solutions.
