Bridging the Gap: Collaborations for Sustainable Impact - Powered by UOB
Delivered at the Singapore FinTech Festival, the UOB FinLab team hosted an insightful session on driving sustainable impact through collaborations between corporates and green techs, sharing examples of pilots, partnerships, and regional connectivity from their Green Tech Accelerator Program.
Key Highlights
1. The Role of Green Tech Pilots
Pilots Driving Impact:
- Empowering businesses with data-driven solutions to transform waste and recycling practices.
- Example: Circular Unite collaboration with UOB and Ngee Ann Polytechnic to enhance visibility and manage waste efficiently, leveraging AI to provide actionable recommendations.
- Outcome: Improved waste tracking, actionable sustainability insights, and measurable impact.
- Optimizing energy use in buildings with AI-driven solutions.
- Example: AltoTech (Thailand) pilot with UOB corporate real estate to integrate IoT and analytics, reducing energy consumption by 10%.
- Outcome: Enhanced building efficiency, supporting UOB’s goal of achieving BCA Green Mark certification.
2. The Power of Partnerships
Collaboration Synergies:
- Corporates and Green Techs:
- Green techs gain resources, market access, and testing opportunities.
- Corporates access innovative solutions without the cost or risk of in-house development.
- Example: UOB partnered with SusGain to gamify sustainability education at their booth, showcasing co-creation in action.
- Regional Connectivity:
- Leveraged UOB’s regional presence to connect with stakeholders in Malaysia and Thailand.
- Example: Circular Unite collaborated with WWF and the government at a hospitality sustainability event in Koh Samui, linking sustainable financing options to green initiatives.
3. Challenges in Corporate-Green Tech Collaborations
Barriers Identified:
- Undefined Goals: Corporates without clear sustainability targets hinder progress.
- Funding Gaps: Startups often bear upfront costs for pilot implementations.
- Leadership Turnover: Short-term leadership tenures misalign with long-term sustainability investments.
Proposed Solutions:
- Integrate sustainability metrics into leadership KPIs and compensation.
- Foster a "sustainability-first" organisational mindset, akin to safety-first cultures in construction or shipping.
4. Scaling Sustainability through Innovation
Opportunities in the ASEAN Region:
- John Ooi: Highlighted partnerships addressing packaging waste for Uniqlo and transforming waste into Process Engineered Fuel (PEF).
- Outcome: Zero waste-to-landfill achieved through holistic solutions.
- Carolin Barr: Advocated for leveraging community engagement platforms to drive behaviour change within organizations.
- Example: Breaking down sustainability strategies into actionable steps for employees, enabling measurable collective impact.
Vision for the Future
Bridging the Gap Between Innovation and Impact:
- Collaborations are Key: Sustainable progress hinges on partnerships between corporates and green techs.
- Regional Connectivity: Leveraging networks across ASEAN accelerates the adoption of innovative solutions.
- Measurable Impact: Aligning corporate goals with sustainability actions ensures accountability and long-term success.
Driving Systemic Change:
- Clear targets and incentives for leadership.
- Building ecosystems where startups and corporates co-create solutions that are scalable and impactful.
Conclusion
The session highlighted the vital role of pilots, partnerships, and regional connectivity in achieving net-zero goals. UOB FinLab’s Green Tech Accelerator Program exemplifies how corporates and green techs can collaborate to transform sustainability challenges into opportunities.
Speakers:
- Carolin Barr, Founder, SusGain
- Emmanual Tay, Co-founder & Chief Executive Officer, Circular Unite
- John Ooi, Founder & Technical Director, Materials In Works
- Dr Warodom Khamphanchai, Founder & Chief Executive Officer, Altotech Global
Moderator:
- Marianne Tan, Programme Director, UOB FinLab