• Decarbonisation is expected to drive 5.5 million jobs globally by 2050 and 50,000 in Singapore by 2030 in areas such as energy efficiency, supply chain decarbonisation, green procurement, new energy technologies, carbon trading and green finance
• This collaborative alliance aims to fast-track decarbonisation of energy, transport, and real estate sectors in the region, and develop capabilities of businesses in innovative energy-efficient technologies & green financing solutions

SINGAPORE - Media OutReach - 6 March 2023 - KPMG, a leading professional services firm, has partnered with four other organisations, through the KPMG ASEAN Decarbonisation Hub, to equip businesses in the region to meet their sustainability goals in the face of strong economic headwinds and uncertainties. Through this partnership, businesses in the region will be able to "plug-and-play" decarbonisation solutions as they undertake ESG transformation towards meeting net zero goals. They will also be able to raise green financing, gain credible accreditations and certifications, and leverage digital tools for cost effective growth. A major focus of the partnership will be to facilitate low carbon and energy efficiency project origination, structuring, financing and implementations. The four partnering organisations are Bureau Veritas (BV), Energy Institute (EI), Maybank Singapore (Maybank) and two research institutes at the National University of Singapore (NUS) - Energy Studies Institute (ESI) and Sustainable and Green Finance Institute (SGFIN). These four organisations have each signed a Memorandum of Understanding with KPMG to provide their complementary expertise to catalyse businesses' decarbonisation goals via the Hub. KPMG and the four partnering organisations will work together to help businesses manage the impact of climate change (see figure 1 below). Leveraging their complementary skills, they will provide businesses with customised plans to achieve their net-zero goals, including creating a carbon reduction roadmap and supporting implementation. Companies will also receive tools and solutions to pilot environment-friendly projects that offer economic incentives for reducing carbon emissions. In addition, Maybank will provide sustainable financing to encourage a strong pipeline of decarbonisation projects - this will set a precedent for successful use cases across the decarbonisation value chain, thereby increasing financing for similar projects in the region. Finally, the Hub will also be running industry workshops in collaboration with the Energy Institute and develop thought leadership and research in the decarbonisation space together with NUS. Some of the capability development and transformation tools slated to be covered include energy efficiency across the value chain, electrification of vehicles, greening of buildings, renewable energy integration, smart grids and carbon sequestration, among others. KPMG plans to collaborate with more organisations in the future, via the ASEAN Decarbonisation Hub, to provide businesses with greater capabilities and expertise that can address their decarbonisation requirements. Annex A outlines the roles of each partnering organisation. Sharad Somani, Partner, Head of KPMG ESG, KPMG in Singapore said, "As businesses strive to achieve net-zero commitments, they must develop implementable plans and document their carbon footprint through climate accounting infrastructure to demonstrate progress. Unfortunately, not all companies are equipped to do so. To successfully tackle climate change, collaboration is essential. That's why KPMG created the ASEAN Decarbonisation Hub – to bring together organisations with complementary skills, with the shared goal of net-zero emissions – which we are seeing in this collaborative alliance with Bureau Veritas, Energy Institute, Maybank and the National University of Singapore. KPMG is also expanding the tools, financing and access to expertise for both public and private sectors to help build resilience and reach sustainability objectives during uncertain economic conditions – all in pursuit of achieving net-zero emissions." In a KPMG 2022 CEO Outlook survey, Singapore CEOs identified the main barriers to their ESG strategies as the difficulties in identifying and measuring metrics (28 percent), lack of skills for implementation (28 percent) and lack of budget for investing in ESG transformation (20 percent). Hence, this collaborative alliance with its plug-and-play solutions, expertise and training for decarbonisation are intended to address these concerns and help move Singapore closer to reaching its goal of reducing emissions to 60 million tonnes by 2030. Decarbonising of industries is expected to create 5.5 million jobs globally by 2050, and 50,000 in Singapore by 2030. These jobs may include those in areas such as energy efficiency, supply chain decarbonisation, green procurement, new energy technologies, carbon trading...