The ongoing heatwave across South-east Asia has led to school closures, overburdened power grids, and a spike in heat-related illnesses. Biodiversity has also been affected, prompting a loss of vital ecosystem services such as carbon capture and nutrient recycling.
Although Singapore has not experienced every single one of these repercussions, we can benefit from actively advocating for sustainable solutions, says Kamal Seth. At WWF Singapore, the climate & sustainability director oversees three key programmes: sustainable finance (investing that incorporates environmental and social considerations), net zero carbon (a state in which new greenhouse gases entering the atmosphere are balanced by removing the same amount of older gases from it), and responsible sourcing and consumption.
Sustainable finance, he points out, is especially critical to businesses. “It helps them mitigate risks, enhance their reputation, attract investors, and tap into the growing market demand for sustainable products and services.”
In his role, Seth manages collaborations with banks, investment firms, regulators, and financial markets to implement changes that reduce greenhouse gases to net zero and support nature. He directs investments and financing towards sustainable energy sources and environmentally-friendly practices through the use of products like green bonds and sustainability-linked loans.
There are two objectives. One, help businesses align their goals and operations to become more climate-resilient and nature-positive. Two, help financial institutions develop the tools for a green transition. He also oversaw several programmes targeted at addressing key environmental issues over the past year.
They included the Sustainable Banking Assessment 2023 report, which offers insights for stakeholders, policymakers, and financial institutions, as well as the second WWF Earth Hour Summit, which brought together 700 C-suite executives and academics to discuss how companies can achieve net zero emissions. Additionally, the Eco Deals Program in partnership with Agoda supports eight conservation projects in the region.
Seth also initiated tie-ups that promote environmental awareness among youths. WeGotThis, for instance, is a youth-led incubator programme that equips those between 18 and 30 with the skills to execute strategic public outreach campaigns.
While media coverage, educational campaigns, and grassroots initiatives have led to a surge in eco-consciousness among locals, he maintains that there is still ample room for improvement and more educational programmes in schools can kick-start this process.
“It is crucial to nurture the next generation’s understanding of environmental impact. Fostering environmental stewardship means the leaders of tomorrow can make informed decisions and drive positive change.”
Kamal Seth on instilling environmental responsibility
His hope is that Singapore continues to be a regional and global leader for equitable and sustainable economic development. In his view, we have the immense potential to be a role model for rolling out new initiatives such as transition finance (investments aimed at helping to decarbonise high-emitting and hard-to-abate industries such as steel, aviation, and shipping), carbon markets, and nature-based solutions.
He adds that in an ideal world, governments, businesses, and organisations like WWF can work together to forge a mix of incentives and disincentives that nudge everyone towards a net zero future. Given that Singapore is home to thousands of MNCs, it can actualise a science-based approach that de-risks and decarbonises supply chains and bank portfolios.
Bumps in the road are to be expected, but we need to press on. “Reaching net zero targets will not be easy, but these are exciting challenges for us to work on together so that humanity lives in harmony with nature.”
Art director: Ed Harland
Videographer: Alicia Chong
Photographer: Mun Kong
Photographer’s assistant: Hizuan Zailani
Hair: Aung Apichai using Kevin Murphy
Makeup: Sha Shamsi using Chanel Beauty
