The push for micro-credentials in Singapore: What are they and are they for you?

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HOW THEY WORK IN SOME INSTANCES

These courses can go a long way, according to Associate Professor May Lim, assistant professor of applied learning at the Singapore Institute of Technology ( SIT ), which offers micro-credentials for the tech and sustainability sectors.

She said a two-day training on artificial intelligence that teaches broad stroke is not suitable for those who want to work with machine learning or information engineers.

” If I want to heavy swim and have true skills … I need a substantial amount of understanding, which is what a micro-credential is about”, she told CNA’s Singapore Tonight.

SIT even takes note of pupils ‘ due teaching so it can provide the appropriate micro-credentials, said Assoc Prof Lim.

Additionally, the institutes develop curriculums that incorporate more than just one company. For instance, the Singapore University of Social Sciences ( SUSS) and the Singapore University of Technology and Design ( SUTD ) collaborated to obtain a joint professional certification in generative AI.

According to Associate Professor Guan Chon of the SUSS Academy, who was also on the show, her university concentrates on the introduction and information technology and storytelling units, while SUTD concentrates on design and development. &nbsp,

” We click each other’s capabilities and we build a better product up”, she said. &nbsp,

THE INDUSTRY’S Part

Skills development companions did priest IHL micro-credentials offered in emerging or in-demand industries in accordance with a new program and honor those who have obtained the necessary knowledge through recognized qualifications.

For instance, the Institution of Engineers Singapore ( IES ) has worked with enterprises to set out the key skills required for engineers in sustainability, and has identified institutes ‘ micro-credentials that cover these skills.

Trainees who have completed the micro-credentials necessary for the core competencies covered by Tion and who pass the expert analysis will receive a chartership documentation.

Southeast Asia’s largest telecommunication company Singtel is one of the businesses that will help employees in pursuing this new IES’s chartership certification process.

Singtel will use this new qualification route to expand a core group of experts with experience in fields like conservation monitoring and green design to achieve its goal of reaching net zero by 2045.

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Why global uncertainty won’t undermine transition goals | FinanceAsia

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When FinanceAsia editorial board member, Sunil Veetil, took on his Singapore-based leadership role as head of Commercial Banking Sustainability for Apac at HSBC back in summer 2022, Asia was in the throes of pandemic uncertainty. Market to market, the approach of each governing authority proved to be heavily nuanced: Singapore had not long lifted restrictions to social gatherings and would soon abandon the mask mandate; while Hong Kong’s decision makers would deliberate for a further seven months before considering any such easing.

Yet, with hindsight being 20/20 (some may recoil at reference to the fateful numerical sequence), there was a sense of steadiness – albeit slow – in the unravelling of pandemic protocol which sits in stark contrast to today’s atmosphere of fast-paced-but-frequently-wavering global political and socioeconomic uncertainty. With over half of the world going to the polls this year – and a lot riding on upcoming election outcomes including France’s hung parliament and the final months of campaigning in the US; geopolitical complexities and tensions are pervading all market developments, not least the macroeconomic and inflationary outlook.

Reassuringly, however, Veetil is resolute in his resolve that global climate aspirations will forge ahead in spite of current conditions. “When you talk climate, you have to look long term,” he told FA. “Whilst there are short-term disruptions and changes – some of which have been positive; for example, the supply chain dispersion that has been taking place across the Asian region – it’s important to view climate from a longer perspective.”

He pointed to the outcomes of last November’s COP28 UN Climate Change Conference in Dubai, which served as a global stocktake of progress achieved by key economies towards the goals of the Paris Agreement, at the halfway point to their ultimate delivery by 2030. While the event publicly affirmed failure in capacity to limit global warming to 1.5 degrees Celsius by the end of this century; for the first time, it achieved consensus among all 196 heads of state and government officials to sanction the “beginning of the end” of the fossil fuel era, with efforts to eradicate their use by 2050. The conference laid the ground for a “swift, just and equitable transition, underpinned by deep emissions cuts and scaled-up finance”, a strategy which complements HSBC’s own ambitions to align its financing portfolio to net zero by 2050, as announced by the bank in 2020.

Climate management, Veetil explained, involves tackling a “perfect triangle” of challenges: politics, climate and the overall socio-economic picture. “The socio-economic impact of climate upon people is becoming all the more evident as we proceed… and to bring this all together, is the flow of capital.” He noted that while a lot of climate policy frameworks and trendsetting comes from Europe, the impact – “where the rubber hits the road” – is in Asia “and this is where the complexity is.”

Expanding on his comments for FA’s analysis of Asia’s debt capital market (DCM) activity, in which sustainable transactions were highlighted as playing an increasingly significant role within regional DCM dealmaking, Veetil said that typically, it continues to be the larger regional entities who lead the way in terms of raising significant capital to support sustainability aims. “The large tickets will always be driven by the sovereigns; and then it’s usually state-owned-enterprises (SOEs) or those large-cap private operators active in oil and gas or power and utilities, who are signing the big-ticket transactions.”

This seems to have been the case in 2024 so far, with Asia’s main players pioneering innovative climate transactions. In February, Japan followed up on its 2021 introduction of a transition finance framework by auctioning the world’s first sovereign climate transition bonds as a financing tool to support market growth alongside industry decarbonisation; while during the same month, HSBC participated in the first global multi-currency digital green bond offering, issued in Hong Kong.

“However, we are seeing green loans and sustainability-linked loans (SLLs) pick up at the mid-level and below this, in response to sustainable supply chain requirements. Of course, Asia is a supplier to the world.”

Veetil noted how European and North American buyers have become accustomed to outsourcing their emissions to Asia and that this had contributed some positive social and economic repercussions across the region, including an overall rise in income levels. With increasing pressure to report on and regulate sustainability, he explained that Asia-based manufacturers are not only on top of scope 3 metrics, but are pushing for capital expenditure (capex) to contribute to longer-term sustainability: to counteract those emissions that extend beyond the products themselves such as packaging, as well as manufacturing machinery. 

“Take a textile manufacturer that supplies to one of the big fashion brands. It’s not just that they want a sustainable supply chain and a robust working capital requirement; they’re also looking at how to install a wastewater treatment plant or rooftop solar. They are actively seeking capex investment plus working capital that is sustainable.”

Additionally, he highlighted the emergence of a circular economy to facilitate long-term sustainability, as being a growing trend: “Look at the battery ecosystem for example, a huge industry is developing around the recycling of batteries – additionally the recycling of solar panels, turbines and so forth is being considered. The recycling industry is becoming larger as ultimately, unless there is a circular economy around it, resources will be wasted. New action is being taken to develop a fully circular product lifecycle.”

The role of tech

Veetil emphasised various strides made across the field of technology, as being key to the future direction of the sustainability market. He commended Japan’s move to funnel over 55% of the proceeds from its recent climate transition issuance into research and development (R&D). “The future impact of investment going into research is set to be significant,” he said, noting the market’s action to invest in and develop domestic hydrogen production.

“Hydrogen has real potential to drive transition across hard-to-abate sectors such as steel, construction and aviation. But currently the market is ‘grey’ as it requires coal power to extract it from H2O.” He added that China and India are also investing heavily in the development of hydrogen. “It’s a space to watch.”

Climate-related research and technology is one of the areas which HSBC’s New Economy initiative aims to support. Since June last year, the bank has launched two fundraising strategies in Asia to invest in early-stage high-growth and tech-focussed businesses, to promote regional innovation. The first strategy, a $3 billion New Economy Fund (NEF) targets opportunities in Hong Kong and the surrounding Greater Bay Area (GBA), while a more recently launched $200 million vehicle targets investment across Singapore and Southeast Asia. Last month, the latter signed its first dedicated social loan to support Vietnamese venture-backed biotech start-up, Gene Solutions, which aims to enhance the accessibility and affordability of essential healthcare services across Southeast Asia. Another recent contribution included a $30 million green and social loan to Indonesia’s acquaculture and intelligence start-up, eFishery, which works to empower smallholder fish and shrimp farmers through tech, by increasing feed efficiency and reducing waste.

Veetil agreed that there is a strong socio-economic angle to sustainability developments in Southeast Asia, offering the example of electronic vehicle (EV) two-wheelers: “In certain areas in Southeast Asia (such as Vietnam and Indonesia) – as well as India, the majority of the population can’t afford to buy cars. We are going to see EV two-wheelers becoming more prevalent, popular and impactful… In fact, this is already happening and will continue to do so in the short- to medium-term.”

He added that the technologies emerging around carbon capture also offer real potential, but they “haven’t yet reached a sweet spot for mass adoption.”

Regulatory developments

But perhaps the most influential factor set to shape the sustainability landscape to come, is regulatory development and with it, clarity around how to deliver and enact a shared vision.

“What I am monitoring most closely on the regulatory side of things, is progress around the development of a country taxonomy,” Veetil disclosed.

“Reporting requirements are evolving quickly. Markets such as Hong Kong and Singapore have been very much at the forefront of this, but huge strides are also being made in geographies such as China and India, with new reporting requirements being introduced for listed companies.”

Singapore’s Accounting and Corporate Authority (Acra) together with Singapore Exchange Regulation (SGX RegCo) have mandated that listed companies start disclosing their climate impact in a phased manner, from financial year 2025.

“Over the next three years, most companies based in Singapore will report their climate data, which will certainly have an impact on the corporate mindset operating in the region,” Veetil said.

“Similarly, regulation being introduced elsewhere, such as in Europe, is taking effect globally. Take for example the new European deforestation regulation that has been published; as well as the carbon border adjustment mechanism (CBAM), which will soon take effect.”

“This is where we need a unified body to monitor and manage the direction of shared sustainability efforts. Currently this is something that is missing.”

Veetil suggested that various international entities are exploring options; and he proposed that efficacy could be found through a consortium of international central banks; or an governmental body such as the United Nations (UN) forming a platform involving corporates and financial institutions.

“We live in a very seamless economy, regulations in one country will definitely have an impact on the other.”

 


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Sustainable transformation: making transition finance stick | FinanceAsia

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The Asia Pacific region is currently facing a significant gap in the race to fund decarbonisation – estimated at $US1.1 trillion by the International Monetary Fund (IMF).

However, this is not the only problem for a region whose coal-fired economies represent around half of global emissions, according to the International Energy Agency.

China alone accounts for 35% of global CO2 emissions, the agency says.

Speakers at the Sustainable Finance Asia Forum 2024 said that regulators will need to rebalance sustainable investment priorities – placing more emphasis on adaptation rather than mitigation – if the region’s most heavily polluting emerging economies are to meet their carbon zero targets.

Debanik Basu, the head of responsible investment and stewardship APAC at APG Asset Management, told a panel on harnessing transition finance for sustainable transformation that investment in mitigation (reducing greenhouse emissions at source) now represented the majority of transition funding.

He said the often more complicated task of climate adaptation – the need to change systems, behaviours and whole economies – was receiving scant attention.

“Currently the region is getting around $300 billion in transition finance so there’s a massive gap that needs to be addressed,” he told the conference. “Even within the small portion of finance that we are getting, more than 80 per cent of the funds are moving towards mitigation.

“Consensus estimates suggest that ideally it should be 50/50 between mitigation and adaptation.”

He said the other critical problem was that aspects of climate finance were not well understood and appreciated by the market overall, in particular within the agriculture and forestry segment.

“When you look at the NDCs (Nationally Determined Contribution) put out by a lot of countries, there are specific targets around climate change, but there aren’t explicit targets around forestry and agriculture,” he said.

“And even when there are targets, there is no clear roadmap. What all this means is that the institutional capacity is lacking. There are gaps in infrastructure and there are gaps in knowledge.

“As an investor, conversations with companies around biodiversity are at a very nascent stage.”

A question of taxonomies

Kristina Anguelova, senior advisor and consultant on green finance strategy APAC at the World Wildlife Fund, told the conference that regulation was moving in the right direction, guided by hubs such as Singapore and Hong Kong.

She added that the unofficial rivalry between Hong Kong and Singapore in terms of developing regulatory taxonomies was having a positive effect on the transition finance landscape in the region.

“I think the competition between Singapore and Hong Kong in this case is a good thing because it’s advancing regulation in the region quite a bit,” she said. “The Singapore Asia Taxonomy lays out transition taxonomy criteria across eight sectors.”

While the regulation is tailored to Singapore, she said she believed it would lay foundations for others to follow.

“It’s so important as a regulatory piece because it can serve as an incentive for investors to start to scale transition finance comfortably and confidently without the loopholes and the risks of potentially being accused of greenwashing,” she said.

In terms of biodiversity, she highlighted the nascent stage of biodiversity finance compared to climate finance, discussing the need for capacity building, regulatory clarity, and financial instruments to support nature-based solutions.

A case in point, she said, is the International Sustainability Standards Board (ISSB) which is developing standards aimed at developing a high-quality, comprehensive global baseline of sustainability disclosures focussed on the needs of investors and the financial markets.

“On biodiversity, I think we’re moving a bit slowly, but we’re getting there. Obviously coming from a science-based NGO, efforts can never be fast enough,” she said. “But the good news is that the ISSB will also be integrating the TNFD or the Task Force for Nature-related Financial Disclosures soon.

“Those jurisdictions that have adopted or committed to the ISSB will also be adopting those nature regulations.”

The challenge as always, she added, was that regulators had to strike a balance between mitigating financial risk and overregulating such that it slowed economic development.

Blended solutions

Building capacity, both speakers argued, would be critical to transition finance solutions to climate change and that new instruments, particularly in blended finance, were likely to be leading the charge.

“We are seeing beyond transition bonds to different types of instruments that are designed to go into blended finance structures such as transition credits which are based on the assumption that we can get carbon savings out of early retirement of coal-fired power plants,” Anguelova said.

One avenue that was currently being explored in a number of jurisdictions was concessionary capital: i.e. loans, grants, or equity investments provided on more favourable terms than those available in the market.

These terms could include lower interest rates, longer repayment periods, grace periods, or partial guarantees.

Of these instruments, Basu said, guarantees were evolving as one of the methods currently being pursued in several markets.

“What we are also seeing is that, apart from concessionary capital, a lot of public institutions are more comfortable with providing guarantees instead of direct capital because that then keeps the overall cost of capital down,” Basu said.

“It might be at a very nascent stage – and it is difficult to say if this is going to be the future – but it is developing,” he said.


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Jumping aboard the small-modular-reactor bandwagon – Asia Times

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Worldwide, SMRs and AMRs have a growing fan base.

SMRs are described by the International Atomic Energy Agency as “modern nuclear units with a power output of up to 300 MWe [megawatts energy ] per unit, which is roughly one-third of traditional nuclear power reactors ‘ generating capacity.”

SMRs may be installed on sites that are not suitable for larger nuclear power plants, whereas prefabricated models of Biomarkers can be produced and then shipped and installed on site, which should increase their cost effectiveness. Due to its lower electronic output, an SMR can be installed inside an existing network or electronically off-grid. Biomarkers are regarded as being safer and less expensive.

Around the world, over 80 commercial SMR designs are currently being developed, focusing on various outputs and different programs, including light, cross power systems, heating, water desalinization, and steam for commercial software. These include a wide range of diverse reactor technology, from those that are based on smaller, more sophisticated compressed water reactor designs to the much more sophisticated hot water units and quick units.

While some of these styles are being developed by well-established nuclear companies, frequently with government support, others are being proposed by start-up companies with an emphasis on the principal opportunity but little technical expertise.

SMRs ‘ economic competitiveness can still be demonstrated in process once they are deployed, despite having lower upfront cash costs per unit. Now, SMRs are under development or in the registration period in Argentina, Canada, China, Russia, South Korea and the United States.

To day, just Russia and China have operating SMRs. Russia’s Akademik Lomonosov, the world’s first floating nuclear power plant ( FNPP ) began commercial operation in May 2020. China’s HTR- PM, a pebble- base flexible high- heat gas- cooled reactor ( HTGR ) began industrial operation in December 2023.

Russia’s Akademik Lomonosov. Image: vajiramias.com

For energy generation, Akademik Lomonosov has two KLT- 40S units, based on greeting engine units. Together, they offer 300 MW thermal furnace power that is transformed into 70 MW of total electricity by two turbo-generating sets. The ship was towed to Pevek, in the Arctic, from the Baltisky port in St. Petersburg, where it was constructed, before stopping at Murmask to collect nuclear energy.

The FNPP experienced a number of delays and costs that were at least six times as high as those that were initially anticipated, something that is encountered in almost all first-of-a-kind jobs. Nevertheless, it had on- going state support and access to Russia’s nuclear design departments and research universities.

Since more than four years ago, the Akademic Lomonosov has been providing the Pevek place with reliable power and heating, which has served as the foundation for a number of additional FNPPs and ground-based SMRs that are currently being constructed in Russia. These will provide Arctic business development projects with heat and power that normally would not be able to generate electricity. For Project 22220’s most recent nuclear submarines, they use larger RITM-200 reactors.

Russia is also in discussions with some nations regarding their exports, and all of these projects are on deadline and on budget. The funding has paid off despite the difficulties and overrevenue costs.

China’s HTR- PM. Phoro: CNNC

At the end of 2023, China’s second Generation 4 NPP show initiative in Shidaowan in Shandong province, officially launched into business operation. Product 1 reached its singularity in September 2021, and unit 2 reached its criticality two months later. Construction started in December 2012. In December 2022, both products reached full strength.

Two tiny 250MW HTGRs that drive a second 210MW engine are part of the HTR-PM project. Helium is used as a water, and carbon is used as a mediator. Each reactor’s base is stuffed with more than 245,000 pebbles, each with a diameter of 60 mm and containing 7 grams of improved 8.5 % fuel. Each micro-pebble has an outer surface of graphene and is made up of roughly 12, 000 four-layer ceramic-coated energy particles that are distributed in a matrix of graphite powder. The fuel stays fresh at temperatures as high as 1620°C, which is much higher than the high temperatures that can happen even in severe situations.

China Huaneng ( 47.5 % ), China National Nuclear Corporation ( 32.5 % ), and Tsinghua University’s Institute of Nuclear and New Energy Technologies ( INET ) are the members of a consortium that owns the project. Research, development, major components, and system design are handled by INET. Huaneng is user- controller and CNNC is architectural, procurement, and building contractor and fuel manufacturer. More than 500 companies specializing in style &amp, development, executive development, technology production, production &amp, operation participated in the project.

The project also serves as the foundation for a local heating system, which heats water that travels to a heat exchange station and is then subjected to extra heat exchange to offer residential heating. The job will increase the number of square meters of cooking space by adding 190,000 square meters, replacing 3,700 metric tons of coal with 1850 households, and reducing carbon dioxide emissions by 6,700 tons.

Based on the HTR- PM, China is then developing a larger type, the HTR- PM600, with a single 650 Megawatt turbine powered by six little reactors.

Among the growing number of SMR development projects around the world, those that have made the most progress are those that are based on tried-and-true light water reactor ( LWR ) technology, such as pressurized water reactors ( PWRs ) or boiling water reactors ( BWRs ). The project nearest to completion is Argentina’s CAREM- 25 being developed by Argentina’s National Atomic Energy Commission ( CNEA – Comisión Nacional de Energía Atómica ) and Nucleoeléctrica Argentina SA ( NA- SA ).

CAREM ( Central Argentina de Elementos Modulares ) is Argentina’s first domestically designed and developed 32 MWe nuclear power unit. The second self-pressurized vessel uses free convection to spread the coolant, which relies on passive safety systems throughout CAREM’s whole primary coolant system. This makes it less necessary for pumps to be present in the main circuit and less complicated the whistling system, thereby lowering the chance of mishaps resulting from a loss of coolant.

CNEA and INVAP, a technology firm, started the growth in 1980. It was given a design license by the government in 2009. First, CAREM25 was expected to start up in 2017 social shifts and economic problems resulted in disruptions and work interruptions. Before work was suspended, it was in column to be the world’s second running SMR. The ending of 2027 is when CAREM will officially start. The overall project is 62 % complete ( 78 % for the civil works building ). CAREM has benefited from state aid, just like the jobs in Russia and China. However, that assistance has not been reliable or steady, and political unrest in Argentina has stalled progress.

Another LWR projects which have made some progress include tasks by EDF Energy, GE- Hitachi Nuclear Energy International, Holtec, NuScale Power, Rolls- Royce SMR and Westinghouse Electric Company. The UK Department for Energy Security &, Net Zero, and Great British Nuclear ( GBN ) shortlisted these businesses for entry into the SMR competition in October 2023. The winner likely have state support for setting up a ship of SMRs in the UK.

Of the selected businesses, GE- Hitachi ( GEH) Nuclear Energy International, Holtec Britain, NuScale Power and Westinghouse Electric Company UK have National family or partner organizations and EDF is majority owned by the French position. All of the six technologies chosen rely on conventional nuclear technology.

Artist’s impression of the Rolls- Royce small modular reactor. Credit: Rolls- Royce SMR

A small pressurized water reactor ( PWR ) serves as the foundation for the 470 MWe Rolls-Royce SMR design. Rolls Royce SMR anticipates receiving UK regulatory approval by the middle of 2024 after the design was submitted for the UK Generic Design Assessment review in March 2022. A Rolls-Royce-led consortium of UK SMRs has the ambition to construct 16 SMRs and has plans to complete its first unit in the early 2030s and expand to 10 by 2035.

Artist’s impression of the BWRX- 300 SMR. Credit: GEH

GE H’s BWRX- 300 SMR is a 300 MWe water- cooled, natural circulation SMR with passive safety systems that leverages the design and licensing basis of GE H’s ESBWR, which has US Nuclear Regulatory Commission ( NRC ) certification. It will make use of both a design based on an already-licensed reactor as well as a combination of existing fuel, plant simplifications, and proven components.

Artist’s impression of the NUWARD 340MWe SMR. Credit: EDF

EDF’s NUWARD is a 340MWe SMR plant with two independent reactors ( 170MWe each ) housed in a single nuclear building, optimizing the use of mutualized equipment. The design is focused on standardisation, modular manufacturing and simplicity for in- factory mass production, flexibility in the construction and operation phases. A fully integrated reactor pressure vessel ( RPV ) and passive safety cooling system are housed in the nuclear island building, which is partially submerged. NUWARD is being reviewed jointly by three safety authorities: France’s ASN, the Czech Republic’s SUJB and Finland’s STUK.

st’s impression of NuScale Voygr. Credit: NuScale

NuScale’s VOYGR SMR plants are powered by the NuScale Power Module, a small PWR that can generate 77 MWe or 250 MWt ( gross ), and can be scaled to meet customer needs through an array of flexible configurations up to 924 MWe ( 12 modules ). It is the only SMR whose design has been approved by the NRC, and Nuscale claims that it is being considered for deployment by more than 10 nations.

Artist’s impression of the AP300 SMR. Credit: Westinghouse

Westinghouse launched its AP300 SMR earlier in 2023, as” the only SMR based on an advanced, large Generation II I reactor already in operation globally”, the AP1000 technology. It “utilizes the AP1000 engineering, components and supply chain, enabling streamlined licensing and leveraging available technical skills”. Westinghouse says AP300 SMR will be available in the early 2030s and is” under consideration” by customers in the UK, Europe, and North America.

Artist’s impression of the SMR- 160. Credit: Holtec

Holtec’s SMR- 160 advanced SMR is a PWR generating 160MWe ( 525MWt ) using low- enriched uranium fuel, with flexibility to produce process heat for industrial applications and hydrogen production. The design has completed the first stage of the three-phase pre-licensing vendor design review conducted by the Canadian Nuclear Safety Commission, and it is currently undergoing pre-licensing with NRC. In the UK, Holtec has also submitted an application for a generic design evaluation of the SMR-160.

While four of these – BWRX- 300, NUWARD, AP300 and SMR- 160 – have the backing of major energy companies, Rolls Royce SMR and NuScale are stand- alone SMR companies. Both of these, which depend largely on company finance, private investment and occasional government grants, are already facing delays and funding difficulties.

Rolls- Royce requested negotiations with the UK government to find fresh investment in March 2023, and stated that the current program funding of £500m will run out by the end of 2024. The SMR unit’s CEO and finance officer were replaced, and the hiring of new employees was stopped. Rolls-Royce made the announcement in April 2024 that it would no longer plan to build a SMR pressure vessel factory and would instead purchase from a third-party supplier.

The NuScale reactor was supposed to be the first SMR to be deployed in the US, according to the US Department of Energy ( DOE). The first project, which was scheduled to start operating in 2029 at the DOE’s Idaho National Laboratory ( INL ) as part of the Carbon Free Power Project ( CFPP ), was later canceled due to concerns about its financial viability.

DOE stated that” While not every project is guaranteed to succeed, DOE continues to do everything we can to use these technologies to combat the climate crisis and increase access to clean energy.” The company had provided$ 232 million for the UAMPS project.

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Sunway partners European Union to advance sustainability initiatives

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  • aims to spread awareness about lasting methods in Malaysia.
  • Collaboration aims to improve conservation through combined strengths, information &amp, funding

Delegation of the European Union to Malaysia Chargé d’affaires a.i Timo Goosmann (second from right) and Sunway Group executive director of chairman's office Ong Pang Yen (2nd from left) at the signing ceremony in Sunway City Kuala Lumpur

A strategic partnership between Sunway Group and the European Union delegation in Malaysia ( EUD) aims to advance joint sustainability initiatives. According to Sunway’s speech, this engagement between Southeast Asia’s largest trading bloc and the world’s largest conglomerate demonstrates their shared commitment to achieving a web zero potential.

Ambitious behavior on conservation are required in order to meet the urgent challenges that climate change poses. Through this agreement, Sunway and the EUD commitment to encourage a sustainable and greener coming by pooling their strengths, knowledge, money, and engaging in creative initiatives.

The European Union’s a. document. Timo Goosmann, a. d. e., drew attention to Malaysia by partnering with Sunway Group to increase awareness of green practices. The EU has exerted great effort to make economic conservation a common goal. It has adopted the Western Climate Law, which states that by 2050, all of Europe’s economies and societies must be climate natural.

Ong Pang Yen, senior director of Sunway Group’s president’s office, said,” This agreement reflects the nature and significance of UN-SDG 17, Partnership for the Objectives. Working together with the EU and its member states to achieve as many of the UN’s SDGs as possible here in Malaysia and throughout the area, is a priority for us.

At a signing ceremony held in Sunway City Kuala Lumpur on April 18, 2018, Ambassador of Belgium in Malaysia assistant mind of Mission Pierrick Massaux and Sunway Group CEO Evan Cheah witnessed the signing of the letter of intent.

In Malaysia, the EU works with various local organizations to promote sustainable practices like conservation of wildlife and intelligent cities. In addition, Sunway has committed to achieving net zero carbon emissions by 2050 and has implemented cutting-edge carbon reduction initiatives across its various business groups as well as a first-of-its-kind natural lease agreement program among residents and lessors through its Real Estate Investment Trust shoulder.

Sunway is kicking off the Desa Mentari Community Observatory project this year, which uses a data-driven, systematic approach to improve the quality of life for Subang Jaya’s people housing project’s almost 30 000 residents.

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PM Srettha touts plans for casinos, nuclear power

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Underwater gambling may get solved by legalising, according to Srettha

PUBLISHED: 22 Jun 2024 at 12: 30

PM Srettha touts plans for casinos, nuclear power
File image

Srettha Thavisin, the leader of the nation, used his first regular television address on Saturday to encourage plans to legalize casinos to stop illegal betting and the construction of a nuclear power plant to lower electricity costs.

A nuclear power plant may lessen public opposition over high electricity costs because of its lower era costs, Mr. Srettha said in the noted TV program. &nbsp,

” We have to acknowledge that legalizing underwater gambling is a serious issue that needs to be solved,” said Mr. Srettha. ” Nuclear power will have time to educate people because the majority of people do not want the flower in their neighborhood.”

A panel of legislators ‘ study, which was supported by the majority of the 500-member House of Representatives members in March, recommended that large entertainment venues install legal games to draw in high-end visitors. It is estimated that the integrated entertainment complexes will help generate total tax revenue of 12 billion baht ( US$ 327 million ) in the first year of operations, according to the government.

According to Deputy Finance Minister Julapun Amornvivat, the Finance Ministry intends to send a document costs to the government in three to four weeks in order to legalize gambling venues. The government has collected opinions from 16 relevant companies, all of which agreed the game structures will increase the nation’s economic growth, he told the media on Wednesday.

Any beginning of casinos will be in line with Thailand’s new accept of a more liberal environment to save its tourism sector from the coronavirus pandemic blow even though most forms of gambling are prohibited in the country’s lot Buddhist culture. Thailand decriminalized marijuana in 2022, making it the first Asian nation to do so. It is now attempting to outlaw the drug for outdoor use. Following the senate’s approval next year, the policy legalized same-sex unions, making it the first in Southeast Asia.

According to Mr. Srettha, nuclear energy may also aid Thailand in meeting its commitment to have a net zero carbon footprint by the end of the month.

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Death toll from Guangdong floods in China jumps to 38

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June OF EXTREMES State advertising reported this week that some places had endured “once- a- era flooding… (or ) the biggest since historical data began”. The central government has allocated 105 million yuan ( US$ 14.5 million ) in emergency disaster relief for storm- hit places, state media said Friday.Continue Reading

Australia wants to become a renewable energy superpower. Can it?

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1 minute ago

Hannah Ritchie,BBC News, Sydney

BBC Maia Schweizer BBC

A vast facility housing a scientific breakthrough is hidden among heavy bushland in the southern suburbs of Sydney.

The Asian company SunDrive Solar uses a brand-new, top-secret method to claim to have solved” a very high value problem” in this area.

Its huge development? Finding a way to change solar cells ‘ silver with metal, which was originally believed to be difficult.

” Gold is expensive, scarce and socially disastrous, and it limits how many solar can be rolled out around the globe”, explains chief commercial officer Maia Schweizer.

” Brass is also highly in demand, but it’s 1, 000 days more numerous, and 100 days lower value”.

The start-up is one of the beneficiaries of the government’s Coming Made in Australia program, a collection of policies that invest in local alternative industries to make the nation a “renewable energy superpower.”

But some experts question whether the$ A22.7bn ($ 15bn, £11.8bn ) package, which comprises tax incentives, loans, and kick- starter grants- is enough to meet those lofty ambitions.

And according to climate scientists, Australia must cease selling fossil fuels if it wants to be a significant participant in the net-zero change.

Australia’s market has long been powered by its natural sources, such as coal, oil and iron ore.

However, its essential minerals are exported raw and refined abroad, most of which are used to support important lower emissions technologies.

Australia has earned a reputation as the world’s rock thanks to its dig-and-ship model of trade, which has also resulted in significant loss of significant change farther up the supply chain.

One indication of lithium-based batteries that store solar energy and power electric cars is used.

Despite being responsible for more than half of the world’s supply, Australia captures just 0.5% of the global $57bn lithium battery market, according to the country’s national science agency.

The Coming Made in Australia plan, which was officially announced in April, aims to change that by providing tax breaks and money to businesses that process crucial minerals at home.

Doing so, the state argues, is a national surveillance concern, as countries examine their business dependence on Beijing, and seem to protect themselves against supply chain shocks.

” This is not old- made isolationism or protectionism – it is the new opposition”, Prime Minister Anthony Albanese said, when announcing the program.

” We need to aim higher, be strong, and create large, to match the size of the option in front of us”.

Alpha HPA Rob Williamson at work at Alpha HPAAlpha HPA

Alpha HPA, based in Queensland, is one of the businesses that the government has chosen to carry out its perspective.

Similar to SunDrive, it sees itself as a industry because it can produce high-quality aluminum items that are used in applications like semiconductors and iPhones with less carbon footprint than their outside competitors.

One of the largest aluminium factories in the world is being built close to the coastal town of Gladstone, thanks to a$ 400 million federal loan, according to the company’s claim that it will result in hundreds of local jobs.

According to Alpha HPA’s chief operating officer Rob Williamson, there is still skepticism about whether Australia may produce goods, given that the company has historically outsourced its manufacturing to China.

” Anybody that puts forward the case that we do n’t have people in this country to do]this work ] is just not trying”, he adds.

SunDrive is on a similar trip.

Without government aid, Ms Schweizer says, the firm might have moved abroad.

Rather, it wants to turn one of the nation’s oldest coal power plants into a large solar panel manufacturing gateway.

Currently, one in three Australian households have solar panels, the highest rate in the world, and yet only 1% are made locally – with China responsible for more than 80% of global production.

” Every one material that you need to create a solar panel, we’ve got one of the best three resources in the world”, Ms Schweizer explains.

” Then there’s the possibility of the finish- to- finish value chain coming inland in Australia for the first time, which is very, very exciting”.

The Made in Australia pledge has won the support of the country’s biggest renewable energy industry trade bodies, who say the investments could be “game changing”.

” It’s a great option for us to be an exporter of climate solutions to the world instead of climate issues”, John Grimes, who heads the Smart Energy Council, says.

But some climate experts warn it is being “severely undermined” by the government’s recent decision to champion gas until 2050 and beyond despite global calls to rapidly phase out fossil fuels.

” We’re sending a genuinely mixed information to traders”, says Polly Hemming, the chairman of the Australia Institute’s environment and energy project.

Alpha HPA Alpha HPA production facility Alpha HPA

” This state has continued to review fresh gas and coal projects- it’s flown to Japan, India, Korea, and Vietnam to secure long- word markets for gas and coal.

” If we really wanted to be a green energy superpower, we would n’t be relentlessly pursuing customers for our fossil fuels,” she says.

One of the nation’s leading climate scientists agrees.

According to Prof. Bill Hare, chief executive of Climate Analytics and author of numerous UN climate change reports,” there is a very deep contradiction at the heart of the two policies.”

” The Future Made in Australia]plan ] is playing second fiddle to the government’s gas strategy.”

To understand how, Ms Hemming says you need to” follow the money”.

According to an analysis from her thinktank, last year alone, state and federal governments spent A$ 14.5bn subsidising fossil fuel use across Australia, and that sum is only expected to balloon, according to budget estimates.

By contrast, she says the A$13.7bn set aside to process critical minerals and incubate Australia’s nascent green hydrogen industry “isn’t real money”.

That’s because it will take the form of tax breaks over the course of a decade, which can only be cashed in on production starting from 2027 – a model which policymakers say will ensure taxpayers’ money is not wasted.

However, none of the green hydrogen projects are finished, many of which are being led by the nation’s largest mining and energy companies. If there is a change in the government, the incentives could be eliminated before they become effective.

It’s like I have a healthy eating and junk food policy in place at the same time in my house and tell my kids,” You can have$ 10 a week now if you keep eating junk food,” she says.

” Or,’ I’ll give you$ 2 in 2027 if you switch to broccoli’. What do you think they are going to prioritise?”

Given that the green hydrogen industry is still in its early stages and full of unknowns, some energy experts have also doubted the business justification for it.

Others worry that it will slow down climate action and derail investment away from renewable energy sources that have already proven their worth.

However, Mr. Grimes claims that green hydrogen will play a crucial role in” sliming emissions” from Australia’s carbon-intensive mining sector as businesses look for cheap green fuel to keep running their businesses.

And bigger picture, he argues that the government’s new green investments should be assessed as” a milestone first step “rather than an end point.

The government is aware that Australia could become the Kodak economy of the future: a big deal one day and completely irrelevant the next if it does n’t move beyond its coal, gas, and iron ore exports soon.

Getty Images Iron ore being loaded at a mine in Western AustraliaGetty Images

Not just Australia is trying to be the engine room of the new green economy, but it is also looking to.

Dozens of nations are putting forward ambitious proposals, such as the European Union’s Green Deal or America’s gargantuan Inflation Reduction Act.

According to the International Energy Agency, policymakers have invested over A$ 2tn in clean energy initiatives globally since 2020.

But Australia has some compelling natural advantages, such as enviable wind and solar capabilities, stores of critical minerals and rare earths, and a strong mining infrastructure network that can be repurposed.

All the experts the BBC spoke with agreed that if used correctly, it has every chance of securing its position as a crucial green trading partner among allies.

Getting there though, they say, will require even greater investment – particularly in research and development, which is currently at 30-year lows.

And they’ve warned that the government ca n’t afford to stutter on a topic that Mr. Albanese himself has addressed head on.

” We have to get cracking. We have unlimited potential, but we do not have unlimited time.

” If we do n’t seize this moment, it will pass. If we do n’t take this chance, we wo n’t get another. If we do n’t act to shape the future, the future will shape us”.

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Sunway, Huawei and Chargesini team up to expand EV charging infrastructure nationwide 

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  • Partnership may help form a more sustainable, socially- friendly future
  • All parties may utilize their strengths to improve M’sia’s EV charging system

Left to Right: Huawei Malaysia vice president of Digital Power Business Department, Chong Chern Peng, Sunway Trading and Manufacturing CEO, Yeoh Yuen Chee and ChargeSini CEO and founder James Goh

Sunway Group, Huawei Technologies ( Malaysia ) Sdn Bhd, and ChargeHere EV Solution Sdn Bhd ( ChargeSini ) have signed a Memorandum of Understanding for the development and rollout of more electric vehicle ( EV ) charging stations at Sunway- owned premises, commercial buildings and residences nationwide.

All parties will make use of one another’s talents and skills to lessen range anxiety and improve Malaysia’s EV charging infrastructure in this bilateral agreement, which was formalized at the Malaysia Autoshow 2024 in Malaysia Agro Exposition Park Serdang.

Through this partnership, ChargeSini, one of Malaysia’s biggest EV charging alternative suppliers, will procure, place, and control the activity of EV charging stations at strategic locations across Sunway’s included townships and developments nationwide. Huawei Malaysia may act as the tech consultant throughout the development process and give after-sales service support.

Yeoh Yuen Chee, the CEO of Sunway Trading and Manufacturing, stated,” Sunway is pleased to mate with Huawei Malaysia, once more, and ChargeSini to create and produce EV getting channels more visible and accessible throughout the country.”

He added that both public and private sectors have a role to play in Malaysia’s regional goal to set up 10, 000 EV charging channels by 2025, as outlined in the Low Carbon Mobility Blueprint (LCMB) 2021- 2030. In this situation, Sunway is determined to advance the green growth plan and realize our goal of achieving net zero emissions by 2050. We are convinced that this relationship will help to shape a more responsible and environmentally friendly potential, Yeoh said.

Chong Chern Peng, vice chairman of Huawei Malaysia’s Digital Power Business Department, stated that as a result of its development in the energy transition journey, Malaysia’s automotive industry is securing its place in the EV ecosystem. We want to work together to further strengthen this position and promote EV adoption in Malaysia through our charging solutions through our strategic partnership with ChargeSini and Sunway.

He continued,” Human Malaysia is committed to developing innovative sustainable solutions for a shared green future.”

Additionally, James Goh, ChargeSini CEO and Founder, stated that this partnership is a testament to our shared desire for a sustainable future. We are committed to creating an effective EV charging network that will benefit local communities in Malaysia and beyond by leveraging Sunway’s advanced technology. This initiative demonstrates our commitment to promoting sustainable urban development and reducing carbon emissions. Together, we fuel the Malaysia 2050 Net- Zero Mission”.

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India aims to be global superpower of renewable energy, but faces funding shortage

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In: Asia

Gujarat’s eastern state of Modhera, which has a popular Hindu sun temple that dates back to the 11th century, was chosen as the country’s first solar-powered village.

The American government’s plans to make quarter of its electricity from renewable sources by 2030 include the solar project in the village. &nbsp,

Prime Minister Narendra Modi has also pledged that India will reduce its greenhouse gas emissions to” online low” by 2070.

One of Mr. Modi’s campaign promises is that the world’s most populous nation will become “energy impartial” in the coming decades. He is currently seeking a unique second term in strength.

India’s trade gap is growing as a result of expensive fossil energy imports, making the development of renewable energy even more crucial.

Yet, despite significant progress being made in expanding the use of renewable energy sources, experts claim that a lack of funding is stifling progress.

LESS THAN HALFWAY TO 2030 Specific

Official statistics indicate that since Mr. Modi came to power ten years ago, India’s clean energy capacity has more than doubled to 188 terawatts.

Despite this, however, the state is not even halfway to its target of 500 gigawatts by 2030.

Analysts claimed that the objective is realizable, but that concerns about cost of capital must be addressed in order to increase investor interest in the market.

According to a report from Ember, India needs about US$ 300 billion in funding to fulfill its capacity goals by 2030. If it were to coincide with the net-zero road proposed by the International Energy Agency, it would need an extra US$ 100 billion.

According to Ms. Shailendra Singh Rao, leader and managing director of Creduce, there must be a” money force” from the state in terms of the money, money additions, and funding provided by the banks at lower rates.

” ( The ) proper infrastructure, the transportation and other activities need to be pushed in order to add more capacity,” she added.

The government’s intention is evident, Ms Rao noted- for India to become the international powerhouse of strength change and clean energy.

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