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How can corporates help forge a greener and fairer future of work?

How can corporates help forge a greener and fairer future of work?

This year’s Ricoh Eco Action Day Forum will gather leaders from the worlds of business, government and civil society to explore ways to drive inclusive growth while sustaining the environment for generations to come.

The Covid-19 pandemic has dealt a heavy blow to the world of work. As nations continue to grapple with the short-term impacts of the economic slowdown, many have yet to grasp the imprint that the crisis may have left on the future of labour markets.

Lockdowns have sped up existing trends in remote work, e-commerce, and automation, upending forecasts of what tomorrow’s economy will look like. In the years ahead, it is estimated that 25 per cent more workers will potentially need to switch occupations than previously thought.

With such dramatic change come challenges, particularly for the world’s most vulnerable. Last year’s economic crash left more than 114 million people without jobs, but the United Nations (UN) estimates that a staggering 1.6 billion workers in the informal economy risk losing their livelihoods.

As the pandemic-induced inequality gap keeps widening, this underlines the importance for countries to build back better as they emerge from the worst recession facing the world since the great depression.

If governments are to create a fairer future, the UN’s Sustainable Development Goal 8, focused on achieving decent work and economic growth, will need to be front and centre of the global economic recovery. The question is, what’s the role of businesses in realising this vision?

This year’s Ricoh Eco Action Day Forum will seek answers to this question. Themed ‘The Future of Work’, the event will explore how companies can help policymakers make economic growth sustainable and inclusive, and offer productive employment and decent work for all.

Taking place on 26 August, the event will bring together business leaders, sustainability experts and government representatives to discuss the business models that firms can adopt to build better and safer workplaces while driving sustainability outcomes.

The gathering, which is co-organised by Japanese multinational digital services company Ricoh and Eco-Business, also ties in with Singapore’s wider push towards sustainability as the new engine for jobs and growth, encouraging more entrepreneurs, banks and industry to transition towards greener ways of doing business.

Coming on the heels of the recently unveiled Singapore Green Plan 2030, which charts a new course for Singapore’s sustainability agenda, the event will delve into the ways firms can create green jobs, buildings, and infrastructure to help transform how people live and work in support of the city-state’s sustainability commitments.

 

It is important for business, government and sustainability experts to come together and discuss how we can achieve a sustainable and inclusive recovery post-Covid, and create decent, inclusive and sustainable work for all. – Ben Chong, managing director, Ricoh Singapore

 

“The pandemic has disproportionately impacted those with limited digital access, lower skills and education, and who are of lower income. As countries enforced lockdowns and shuttered economies, these communities have been less able to continue studying and working from home, thus widening the social and economic inequality gaps,” said Ben Chong, managing director at Ricoh Singapore.

“As such, it is important for business, government and sustainability experts to come together and discuss how we can achieve a sustainable and inclusive recovery post-Covid, and create decent, inclusive and sustainable work for all,” he said.

“While it takes collaborative efforts to overcome inequity, the onus is on companies to ensure safe and fair work conditions for their employees,” he continued. Besides putting measures in place to curb the spread of the virus, this means using technology to remove barriers and ensure fair treatment and equal access to opportunities for everyone, he added.

Covid-19 has highlighted how dependent the global economy has become on digital technology. As the world emerges from the crisis, the shift in work patterns is likely to keep driving the surge in demand for digital services, said Chong.

“As the world recovers from the pandemic, we are slowly but surely returning to the office. However, the next generation of workers will require more flexibility in terms of working hours and ways of working,” he observed.

“As a digital services company, we are empowering businesses and their employees to work better and smarter with secure, innovative digital office tools and technologies so they can work seamlessly wherever they are,” he said.

The Ricoh Eco Action Day Forum is one of Singapore’s key sustainability gatherings. It is part of Ricoh’s larger Eco Action Day Campaign, which encourages individuals and organisations in Singapore to embrace a greener future.

 


 

Source Eco Business

Singapore renewable energy finance firm Positive Energy scales back as Covid stymies investment

Singapore renewable energy finance firm Positive Energy scales back as Covid stymies investment

The startup endured a tough 2020, shed staff and its co-founder relocated to the Netherlands as the firm’s only remaining employee. The startup’s struggles reflect the difficulties of renewables entrepreneurship in the Covid era.

Singapore-based renewable energy financing company Positive Energy has scaled back operations after enduring a difficult year impacted by the Covid-19 pandemic.

Positive Energy is a digital platform that connects renewable energy projects to investors, and aims to simplify and speed-up renewable energy project financing. Founded in 2017, the Asia-focused firm makes money by taking a cut of deals made on its platform.

Having raised seed funding and launched the platform in 2019, the firm ran into difficulties after failing to secure further financing in 2020. The platform was suspended late last year, and the company let go employees in Singapore, where it was headquartered, as well as business heads in Vietnam and India.

Co-founder and chief finance officer Vincent Bakker joined another firm at the start of this year. Co-founder and chief executive Nicolas Payen is now the sole employee, and has relocated from Singapore to the Netherlands.

Positive Energy recently landed a waste-to-energy deal that saved the company, and the platform is up and running again, Payen told Eco-Business.

Positive Energy is not the only player in the renewables space to face difficulties over the last year. The pandemic has applied the brakes to development capital, and investors have pulled back in emerging markets, meaning fewer potential deals to run on Positive Energy’s platform. The Covid-induced fall in electricity demand has also slowed the planning and execution of energy deals.

Payen said that although 2021 still presented uncertainties, if Covid vaccinations are rolled out quickly, a return to peak energy demand would follow, and that would mean a need for additional clean energy generation and investment.

“We have seen a number of countries declare net zero ambitions, and a lot of investment will be oriented towards climate friendly technology. So the fundamentals of our business are very strong,” he said.

“We will see growing momentum among climate technology venture capitalists this year. If we get the capital support we need, we can play our role in the energy transition.”

Payen said he remained focused on the company’s mission — rethinking the energy funding process to accelerate the deployment of renewable energy assets globally.