Singapore Positive Impact Day showcases power of sustainable collaboration

In a keynote address, H.E. Stephen Marchisio, Ambassador of France to Singapore, recognised the rapid progress underway across the region. Ambassador Marchisio highlighted cross-border initiatives such as the ASEAN Power Grid as an illustration of what can be achieved by combining expertise, knowledge and financial capacity. 

Stephanie Clement de Givry, Head of Global Banking and Advisory, Asia Pacific, Societe Generale, echoed the importance of collaboration, emphasising that sustainability transformation cannot be achieved in isolation. She highlighted the need for partnerships, collaboration, state support, and financial backing, and noted that the encouraging trend of collaboration taking place across the region.

The fast-paced agenda at the Positive Impact Day forum covered a range of topical themes, from the future of ESG investing to the potential of emerging technologies such as carbon capture and storage (CCS). Throughout the event, speakers highlighted the opportunities for businesses and investors in the region’s ongoing transition. With the recent celebration of the 2024-2025 France-Singapore Joint Year of Sustainability, it was timely to acknowledge as well how decarbonisation is a key pillar of the relationship between Singapore and France, and a growing number of European businesses are involved in transition technologies across the region. 

According to IMF data, annual investments in the energy transition must reach USD1.1 trillion in Asia Pacific to put the region on track to net zero emissions by 2050.¹  Surging demand for energy is adding to this challenge. By 2030, data centres will consume as much energy as the world’s 3rd biggest economy.² Electric vehicles will account for 2.5% of global electricity demand in 2030, compared to 0.7% in 2024.³

Meeting this rising demand for energy will require access to all forms of power, said Wei Yao, Chief Economist and Head of Research, Asia Pacific, Societe Generale. “The transition is definitely not a fad. It’s not over. No country can avoid it, because of this new energy demand that’s coming from artificial intelligence (AI).”

“There is a massive capex story here,” she said. 

Investing in sustainability

Institutional investors at the event reiterated their confidence in ESG opportunities. Despite a volatile market environment, speakers noted that inflows into ESG funds picked up in the second quarter of 2025.⁴

“ESG investing is here to stay,” said Amy Zhang, Head of Sustainable Solutions and Products, Asia Pacific, Societe Generale. “Regulations and standards are evolving, but investors welcome the additional clarity and growing harmonisation between different regions, and there is a wealth of transition and adaptation opportunities in Asia.” 

The rapid growth of digital infrastructure in Asia was highlighted as a potential driver of clean energy investment, as hyperscale customers look to match their power consumption with renewable electricity. 

Collaboration among all stakeholders – including data centre operators, hyperscalers, energy providers and regulators – is crucial for addressing both demand and supply requirements, according to Lan Yang, Head of Financing and Advisory, Asia Pacific, Societe Generale.

New technologies

The sessions included a deep dive into CCS (carbon capture and storage), which the IEA has labelled a critical technology in the net zero transition.⁵

CCS business models, however, have yet to be firmly established, and there are technical and logistical hurdles in transporting carbon dioxide across international boundaries.  
Societe Generale has a strong track record of advising on CCS projects in Europe and the US and is supporting a bankability study for a carbon dioxide export terminal in Singapore. 

Allan Baker, Global Head of Energy Transition, Societe Generale, is confident that the lessons from earlier pilots can help Asia bring CCS projects to market more quickly. 

He believes that understanding the risks stakeholders are willing to accept provides a strong foundation but emphasises that there is no one-size-fits-all solution. Baker underscores the importance of working with experienced industry professionals and collaborating with government and other stakeholders to advance the industry.

Panelists also discussed how CCS technology is a good example of the scale of the opportunity in Asia. 

“In the latest IEA World Energy Outlook (2024), global CCS capacity needs to increase from roughly 50 million tonnes per annum today to almost 2,500 million tonnes per annum by 2035 under the Net Zero Emissions by 2050 (NZE) Scenario,” said Paul-Antoine Thiebot, Head of Sustainability and Impact Advisory, Asia Pacific, Societe Generale. “For sure, this is a challenge, but it is also a great opportunity for CCS developers, technology providers and investors.”

Partnerships for progress

Societe Generale’s Positive Impact Day events aim to showcase best practices and provide a forum for the bank and its partners to explore emerging trends, exchange practical solutions, and work together towards a more sustainable future.

In that context, Singapore provided the ideal backdrop for the discussions. Panellists emphasised the importance of Singapore’s whole-of-system approach to developing new technologies, and the need for a long-term focus rather than short-term projects that fail to scale.  

“We see a strong partnership between the public sector and private sector, and there is also a significant level of cooperation across industry, which is absolutely necessary to make sure that we achieve Singapore’s decarbonisation goals and bring about positive change,” said Alvaro Huete, Group Country Head, Singapore and Head of Southeast Asia, Societe Generale. 

“We understand that it’s not easy for companies to make changes to the way they operate and to their supply chain, and this is where I believe we can play a role,” said Mr. Huete. “Since we were founded 160 years ago, we have been helping our clients with advice and solutions to address the need for change.” 

<sub>1. IMF (2024) Explainer: How Asia Can Unlock $800 Billion of Climate Financing. Available at: https://www.imf.org/en/Blogs/Articles/2024/01/29/explainer-how-asia-can-unlock-800-billion-of-climate-financing (Accessed 9 September 2025).
2. IMF (2025) AI Needs More Abundant Power Supplies to Keep Driving Economic Growth. Available at: https://www.imf.org/en/Blogs/Articles/2025/05/13/ai-needs-more-abundant-power-supplies-to-keep-driving-economic-growth 
3. IEA (2025) Global EV Outlook 2025. Available at https://www.iea.org/reports/global-ev-outlook-2025/outlook-for-energy-demand   
4. Morningstar (2025) Global ESG Fund Flows Rebound in Q2 2025 Despite ESG Backlash and Geopolitical Uncertainty. Available at https://www.morningstar.com/sustainable-investing/global-esg-fund-flows-rebound-q2-2025-despite-esg-backlash-geopolitical-uncertainty 
5. IEA (2023), Net Zero Roadmap: A Global Pathway to Keep the 1.5°C Goal in Reach. Available at https://www.iea.org/reports/net-zero-roadmap-a-global-pathway-to-keep-the-15-0c-goal-in-reach/a-renewed-pathway-to-net-zero-emissions</sub>