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World Economic Forum's Singapore Meet Going Green for Sustainability Asia's Crime Bosses

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World Economic Forum's Singapore Meet Going Green for Sustainability Asia's Crime Bosses World Economic Forum's Singapore meet Going green for sustainability Asia's crime bosses MCI(P) 053/04/2020 March 2021 What next for Myanmar? WE BRING YOU SINGAPORE AND THE WORLD UP TO DATE News | Live blog | Mobile pushes | WhatsApp | SMS IN THE KNOW Web specials | Newsletters | Microsites | Special Features ON THE WATCH Videos | FB live | Live streams IN THE LOOP Facebook | Twitter | Instagram To subscribeIN THEto theKNOW free newsletters, Web specials | Newsletters | Microsites go to str.sg/newslettersSpecial Features All newsletters connect you to stories on our straitstimes.com website. Data Digest Asean to gain US$1 trillion by going green: Bain & Co GOING GREEN COULD MEAN US$1 TRILLION (S$1.3 TRILLION) plastic waste in 2025 will come from Asean, it notes. in opportunities for Asean economies through greater investments The good news, however, is that it is waking up to the need in renewable energy, reduced consumption, better waste to change and could make rapid advances with the right policies management, improved urban planning and other areas. by observing what governments elsewhere are doing in terms This was the finding of a report by global management of green stimulus plans. consulting firm Bain and Company. The authors identified several areas where green investments The report, Southeast Asia’s Green Economy: Pathway To Full could yield significant financial opportunities, including US$270 Potential, said Asean is at risk of being left behind if it doesn’t billion by shifting away from polluting fossil fuels, excessive step up its sustainability efforts. extraction, over-consumption and poor waste disposal. The region, with about 10 per cent of the world’s population and Overhauling food production could yield US$205 billion in 20 per cent of the world’s diversity, faces growing environmental benefits, including access to better and more affordable nutrition, challenges. About 56 per cent of projected global mismanaged the report states. US$1 trillion worth in economic opportunities by 2030 Potential to make big impact Export opportunities in sectors South-east Asia (SEA) makes up Up to $1 trillion from new growth areas and business efficiencies where South-east Asia leads Energy & resources New growth areas Efficiencies & savings $270b Food systems $205b 20% of the world’s Industries & logistics $200b biodiversity Cities $185b Healthcare, education, $75b retail & other of the world’s Financing Serves as a key enabler to realise economic opportunities in the green 10% population economy: ~$30b in new growth areas Jobs Contribution of new growth Fortune 500 5m-6m created 6-8% areas to 2030 GDP ~20 companies* of the global 3% landmass *The equivalent number of highly valued companies was calculated using weighted average P/S ratio of Fortune 500 companies (~1.9); the average market capitalisation of Fortune 500 companies is about $54.3 billion. NOTE: The 6% to 8% contribution to GDP includes additional growth areas as a proportion of 2030 GDP; $ figures in USD. Current environmental issues Strong government push Large digital economy Projected increase in SEA CO2 Asean has set a target of securing 23% The region’s Internet economy hit ~60% emissions by 2040 of the region’s primary energy from $100 billion in 2019 and is expected renewable sources by 2025. to triple by 2025. Projected global mismanaged ~56% plastic waste in 2025 comes from SEA Rising corporate awareness Asean’s efforts Robust innovation ecosystem The region is an innovation hotbed, Wastewater left untreated Singtel, City Development Limited to accelerate ~86% and CapitaLand are among the top with promising start-ups; between in SEA, the lowest treatment 100 most sustainable companies in sustainability 2015 and the first half of 2019 rate globally the world in 2020. digital start-ups received close to $37 billion in funding. ~85% Total primary energy supply in SEA from non-renewable Growing investor awareness sources Private equity funds invested more than Rising consumerism with $6 billion in sustainability assets in sustainability mindset Annual rate of deforestation, South-east Asia in 2018, making up 41% 90% in Vietnam and Philippines are willing ~1.2% the highest of any major of deal value, compared with 1% in 2010. to pay more for sustainable products. tropical region globally Sources: Bain and Company’s report: Southeast Asia’s Green Economy: Pathway To Full Potential STRAITS TIMES GRAPHICS 1 Warren Fernandez Editor-in-Chief, The Straits Times & SPH’s English, Malay and Tamil Media (EMTM) Group Shefali Rekhi Asian Insider Editor Asia Watch Peter Williams China’s vaccine diplomacy not Production & Design Editor as simple as a shot in the arm Eugene Leow AI Video Supervising Editor 13 Dominic Nathan Managing Editor (EMTM) ADVERTISING Maureen Wee Head of Advertising Sales [email protected] Helen Lee Head of Advertising, Product Development and Innovation [email protected] EDITORIAL DESK Ronald Kow Sub-editor, The Straits Times Dominique Nelson Journalist, The Straits Times DESIGN Marlone Rubio Executive Artist Anil Kumar Visual Journalist Gareth Chung PHOTO: REUTERS Senior Executive Artist CIRCULATION Eric Ng Cover Story Power Play Head, Circulation Marketing Myanmar’s crisis deepens Sharper US-China rivalry looms Tommy Ong in the United Nations Senior Manager (Circulation) 4 11 No easy way back to elections for Myanmar REACH OUT TO US: Circulation & subscription: Asia Watch Louis Koh Gen Z breaks out from Suu Senior Executive Kyi’s shadow India seeks to rival China with [email protected] 15 broad shipments Yangon creates a headache for WE WELCOME YOUR FEEDBACK Asean once more AND VIEWS Letters can be sent to [email protected] Debrief WHO’s mission to China ends Published by without finding the origin of the The Straits Times, Singapore 16 Press Holdings (SPH) coronavirus Printed by Times Printers Private Limited All rights reserved. No part of this publication may be ST Interview reproduced in whole or S’pore WEF meeting will come as in part without written world readies for a reset permission from the publisher. 18 Rebuilding a better, post-Covid-19 world with a new mindset of stakeholders COVER PHOTO: AFP 2 AsianInsider March 2021 contents 35 Special Report Asia’s crime bosses expand footprint in Indochina PHOTO: AFP East Asia Watch Business Trends Japan plays guardian and Covid-19 paves the way for 22 gatekeeper of the CPTPP 42 digital banking in Indonesia South-east Asia Watch Lunch with Sumiko China wields most influence WP chief Pritam Singh on the need 24 in South-east Asia but lags in 44 to keep calm and stay grounded trust factor People in the news Climate Change Seven-time Olympian Seiko Green shoots emerge 47 Hashimoto to lead Tokyo 2020 26 for Asia’s green growth Games Economic Affairs Letter from Bangalore Making sense of market Work from village, India style 39 madness 50 Big Picture Bullet trains on track, 52 but passengers stay home 3 Cover Story Myanmar’s crisis deepens NIRMAL GHOSH Resistance against military dimensions – the physical world of armoured cars US Bureau Chief and bullets both rubber and real, and the digital space. persists; prospects for ethnic The regime may eventually dominate the streets, peace dim but even as technology is used by both sides – the regime and the resistance – the digital space is a different matter. In the latter there is more parity. INTENSE, DRIVEN AND ARTICULATE, THE YOUNG “You messed with the wrong generation” young Burmese woman in Yangon, headset on, stares pro-democracy protesters say. It is a generation directly into the camera addressing a webinar, taking adept at using digital technology, and unafraid advantage of a few hours online in a country that of breaking the taboos of a conservative society [email protected] is plunged into digital darkness at night. – including openly mocking army commander “We need to flood our timelines with how to in chief General Min Aung Hlaing, now self- use our digital tools, how to securely mobilise our designated Chairman of the military-appointed protests” says Thinzar Shunlei Yi, speaking rapidly, State Administration Council. urgently. The coup d’etat ignited the rage of Generation “At the same time we need to hold accountable Z, who in their 20s and 30s are learning the art our social media,” against misinformation, she adds. of living one step ahead of the arm of the regime. Many activists worry misinformation will be planted to incite diversionary conflicts. EVERYONE A LEADER The Tatmadaw’s old fashioned tactics – direct, As much as 55 per cent of Myanmar’s population brutal and efficient, battle-hardened by decades of is under 30. Young activists inside and outside the fighting insurgencies – may work when they break country, many of them women, are finding common down doors at night or open fire at protesters. cause even across ethnic barriers that have less But the Feb 1 coup d’etat came in two different meaning for Generation Z than previous ones. 4 AsianInsider March 2021 The new resistance is only one of the forces unleashed by the Feb 1 coup d’etat. The coup will also have profound effects potentially on the economy. Reputational risk is again at stake as companies come under scrutiny for ties with the military. And it has also essentially crashed the peace process with armed ethnic groups the military has been fighting on and off for decades. NO HOPE FOR PEACE “Everyone had really given up hope on Aung San Suu Kyi’s attempts to continue the peace process. The coup d’etat But getting to the heart of it, a lot of ethnic people ignited the rage also feel the same way,” Dr Khin Zaw Win, Yangon- of Generation based commentator and director of the Tampadipa Institute, told Asian Insider.
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