EY Launches Climate Resilience Center in Singapore for Southeast Asia

EY has launched a Climate Resilience Center of Excellence in Singapore to support companies across Southeast Asia on climate adaptation, energy resilience and nature-related risks. The center brings together more than 20 professionals across the region and sits within EY’s wider Climate Change and Sustainability Services practice, which has more than 200 professionals in Southeast Asia. EY plans to expand the team further as demand for climate resilience support grows.

 

The center is designed to help companies move from climate strategy into implementation by combining engineering, climate, biodiversity, policy, sustainable finance and social inclusion expertise. EY said the model will involve governments, businesses, investors, academia, technology providers and development organizations, with larger companies supported through enterprise-wide transition and investment programmes and smaller businesses through sector initiatives, shared tools and capacity-building.

 

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One area of focus will be helping companies improve visibility across regional value chains. EY said Singapore-based companies can often track emissions within their domestic operations, but data becomes less consistent across Southeast Asia, particularly for Scope 3 emissions linked to suppliers and other value-chain partners. The center will also work with boards and management teams to connect climate risks and decarbonization decisions with financial outcomes such as insurance costs, supply disruptions, business continuity and resource constraints.

 

The center will focus on three broad areas: energy resilience, climate adaptation, and nature and biodiversity. Energy work will cover lower-carbon and more diversified energy systems, while adaptation work will address physical climate risks affecting infrastructure, communities and economies. The nature component will focus on ecosystems and natural capital that support economic activity and reduce climate vulnerability.

 

“The real test of climate resilience is whether organizations can make the economics work,” said Amandeep Bedi, Co-Leader of the EY Climate Resilience Center of Excellence. Sunil Yadav, fellow Co-Leader, said the center will also use areas such as carbon markets, just transition and sustainable finance to help companies develop investable climate actions with measurable outcomes.

 

Source: EY