KPMG Launches ASEAN Decarbonisation Hub in Singapore

KPMG in Singapore has introduced its three-pronged Sustainable Future of Work strategy aimed at scaling and transforming businesses in Singapore and the region to create lasting, measurable change.

The professional services firm said it will work in concert with enterprises and industry players to accelerate, co-create and operationalise their fit-for-future transformation in three areas of focus: decarbonisation in ASEAN’s green and just energy transition, data and insights-led solutioning as an enabler, and talent as a differentiator in the future economy.

As a key implementation to this strategy, KPMG in Singapore has inaugurated its first-of-its-kind ASEAN Decarbonisation Hub. Adopting a ‘hub-and-spoke’ approach, the Hub will have Centres of Excellence (CoEs) i.e. the ‘spokes’ to drive specific focus areas across the ASEAN countries which includes decarbonisation and hydrogen solutions, solar and wind technologies, geothermal technologies, sustainable cities, carbon capture and energy efficiency.

Aside from providing expertise in these areas, the CoEs will also support governments and enterprises to create financing models and attract financing, thereby augmenting the resources and expertise that may be needed to make decarbonisation efforts possible regionally.

Such nodes of sustainability capabilities will be a gamechanger and equaliser for various nations across ASEAN looking to decarbonise their value chains and economies. 

KPMG estimates that the decarbonisation opportunity in ASEAN is expected to reach between US$7.5 trillion to US$10 trillion by 2050, with about half of the investments channelled towards renewable energy and strengthening power infrastructure across ASEAN.

Ong Pang Thye, Managing Partner, KPMG in Singapore, said: “Singapore and its ASEAN neighbours are on the cusp of growth and green opportunity, with decarbonisation expected to emerge as among the top contributors to Singapore’s gross domestic product by 2050. Over 50,000 new jobs in energy transition are also expected to be created in Singapore over the next decade and over 5.5 million in ASEAN.”

Ong added: “Data-driven insights for the green transition and global tax are also opportunities that are calling for support. We have doubled our technology investments into the future of work and are ready to provide quality insights and advice to take companies forward in their purpose-driven agendas, helping them break down silos, co-create assets and unify data in these areas.”

#Decarbonisation #KPMGSingapore

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