S1E87: Business, the power behind the green transition

Oct 16, 2022

21:31

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Synopsis: Every first and third Monday of the month, The Straits Times analyses the beat of the changing environment, from biodiversity conservation to climate change.

The corporate world is a vital ally in the fight against climate change. Businesses are major sources of greenhouse gas emissions heating up the planet. But they are also major drivers of change. Their investments in green energy and transport, low-carbon supply chains, green data centres – and more – can drive positive change in government policies and consumer behaviour.

Yet some corporate actors are still hampering climate action by failing to use their financial clout and influence to change for the better. Driven by vested interests that see cutting carbon as hurting their bottom line or simply not believing in the need to change, some powerful businesses are increasingly out of step with the rest of the world, especially when the urgency to cut emissions grows along with the deadly nature of climate impacts, from heatwaves to floods to storms.

In this episode, The Straits Times’ environment correspondent Audrey Tan and climate change editor David Fogarty discuss these issues with Professor Jeffrey Sachs, who is director of the Center for Sustainable Development at Columbia University in the United States, and is recognised as a global leader in sustainable development.

Highlights of conversation (click/tap above):

1:40 What defines a good company?

5:25 What are some examples of good corporate actors?

8:05 Why are some companies so fearful of change?

15:35 What outcomes from COP27 will help businesses focus on action on climate change?

18:03 What is the best way forward on climate finance?

Produced by: Audrey Tan (audreyt@sph.com.sg), David Fogarty (dfogarty@sph.com.sg), Ernest Luis, Eden Soh and Fa'izah Sani

Edited by: Hadyu Rahim

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