In this latest annual report brought to you by the (PBEC) – Pacific Basin Economic Council, we examine the current equilibrium between strategic & voluntary initiatives at companies in Asia Pacific and compliance efforts in disclosing such emissions. The report assesses the progress and challenges faced by businesses as they strive to meet net zero targets in the coming years. This report provides an analytical overview of the scope 3 emissions reporting landscape in the region, providing insights into one of the defining corporate themes of our time, and a look at how companies in Asia Pacific are responding.
Now in its 12th year, the APEC Photo Contest showcases inspirational photos from around the region with a creative take on APEC host priorities. The annual photo contest celebrates the resilience and adaptability of the 21 APEC member economies. Share with us images that will make us think, reflect and admire how people are interconnected, innovative, and inclusive in their daily lives, what sights they see and the sounds they hear in the APEC region. How do you picture a…
Yes you heard that right. My hope is that artificial intelligence (AI) and robotics will be used primarily to eliminate the tedious, bullshit work in which most of humanity currently toils, so that more and more people can pursue their passions in a similar fashion. Ideally, this will lead to our next great renaissance of art and culture, as millions (or even billions) of humans are suddenly free to do what they love and create happiness through art. Before such…
Since RCEP came into effect in China and Japan in January and South Korea in February of 2022, it became the first free trade agreement that fully includes all three economies of China, Japan and South Korea. The trade deal helps reduce the tariff costs of cross-border trade among its members and promotes such measures as self-declaration of origin by approved exporters. China has now become Japan’s and South Korea’s largest trading partner. Meanwhile, South Korea and Japan have become…
APEC released a set of guidelines to further the forum’s work on environmental services and marine debris management. The guidelines encourage member economies to facilitate services that support the clean-up of marine debris from beaches, rivers, coastal areas, and the open ocean. Marine debris refers to plastic and other litter, discarded and lost fishing equipment, industrial rubbish, and other human-created waste that enters the seas and oceans. A 2020 report by APEC Ocean and Fisheries Working Group estimated that marine…
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Hong Kong – 2nd September 2024 : – The Pacific Basin Economic Council is pleased to announce the appointment of Anthony Chan, CEO of Isola Capital to its board of directors, with immediate effect. “I have had the privilege of getting to know Anthony over the past 3 years and witnessed at first-hand his passion and generosity for engaging his clients and fellow PBEC members. He has been an active participant at our roundtable dialogues and public events as an…
Dr. Morgan Carroll resides in Hanoi, Vietnam and recently stepped down as the Director of Environmental, Social, & Governance (ESG) at Vingroup and VinFast. He was responsible for developing and implementing global ESG strategies in Vingroup and VinFast to enhance the business sustainability culture. He is originally from South Africa and resides in Vietnam. Dr. Morgan has demonstrated proficiency in the complex Environmental Social Governance landscape for multiple MNC’s and sectors which is a key area of focus for the…
Airbus Corporate Jets and Jet Aviation invited PBEC members to visit one of the latest large cabin aircraft available in the shape of the A220CJ, a fabulously designed interior to cater upto 28 passengers in maximum comfort. Ideal for Government delegations and MNC’s in APAC to move around in secure and safe surrounding on your own schedule.
A PBEC Insight: AI is being implemented in various ways within supply chain management, leading to significant advancements in operational efficiency and decision-making. Here are some examples of how AI is currently being used: Demand Forecasting: AI algorithms analyze historical sales data, market trends, and external factors to generate accurate demand forecasts, enabling organizations to optimize inventory levels, reduce costs, and meet customer demands effectively. Route Optimization: AI-powered systems optimize transportation routes by considering factors like traffic congestion, delivery time…
The year ahead will be pivotal for many board members. During the KPMG INED Forum, PBEC Chair Andrew Weir, KPMG’s Global Chair of Asset Management and Real Estate, outlined 10 critical areas for directors to focus on and better navigate the opportunities ahead. These areas include accelerating digital transformation, leveraging Gen AI and bolstering cyber defences. See attached mini report.
PBEC welcomes our newest member Stephan Kochem from SICA – Swiss Insurance & Capital Advisors – leading specialists in the global reinsurance market with a particular focus on expanding their unique offering to Asian clients and new markets in the renewable energy, O&G & real estate sectors. Learn more about Stephan here: https://www.sica.ag/en/stephan-kochem-en/ – he visited Hong Kong and Manila in April and arranged proposals for some our PBEC members already in the re-insurance coverage for coal-fired power stations in…
Congratulations to PBEC’s Board of Director Peter Burnett who received his OBE in person from Her Royal Highness Princess Anne in Windsor two years on from being bestowed this wonderful award & recognition for all the work he has done. In 2022 Peter was honoured by Her Majesty, Queen Elizabeth in her last New Year’s Honours but due to Covid restrictions the official ceremony was postponed till 2024. PBEC is so very proud of you. Click images to enlarge
“Lots happening this week at ABAC/APEC in San Francisco around resilience of supply chains, sustainability, financial inclusion, digitisation, AI, etc – not to mention that all important meeting between two Presidents. And then there’s Boeing showcasing the first autonomous, battery-powered air taxi called “wisk” in a fetching bright yellow livery which can’t be missed ! The target price point is an Uber fare. I offered to be the first hailing passenger!” said PBEC’s BoD Peter Burnett OBE, BBS, JP
PBEC – Pacific Basin Economic Council is by invitation ONLY a members based institution, that supports connectivity and cross-border regulatory standardisation efforts within APAC for all technological advancements, through dialogue, engagement and collaborative efforts.
PBEC’s focus is to continual attain recognition as the most comprehensive multilateral platform for APAC business leaders to engage with, advocating key trade issues of importance under a fair rules based system, thus promoting cooperation amongst member States to achieve inclusive, sustainable economic and social development in Asia and the Pacific.
Despite the uncertainty about what lies ahead for global trade, there are still reasons for optimism about its resilience and its enduring role as a catalyst for positive change, and these are encapsulated in the current trends that are shaping the landscape.
As 2024 Q2 draws to a close, economies in Asia Pacific are facing what is projected to be a modest slowdown to approximately between 3.5% to 4.2% on average according to the IMF. But this paints over some of the risks within individual economies, such as the deeper property sector, corrections in China and Vietnam which remain important factors in both. This trend reflects macroeconomic factors but also the impact of persistent corruption and un-tethered growth of the last decade in these sectors.
Geopolitical tensions, including the conflicts in Ukraine and the Middle East and security threats to shipping in the Red Sea, have continued to disrupt global supply chains, and shipping/container prices which get passed on to consumers.
ESG factors have become mainstream and are now a top concern for Boards of Directors. Proper ESG implementation can help businesses and regional Government authorities address current social cohesion challenges and seize future opportunities. On this episode of the Value Prop, we are joined by David Ching Heng Hoe, CEO of Ong & Ong Vietnam and a board member of the PBEC, who shares his insights, challenges and opportunities on the real estate sector and major infrastructure developments in the Mekong region, in particular in Vietnam and Laos, including the company’s pioneering work in social housing projects since 2007 which is now firmly on the agenda of regional Governments in SE Asia.
You have the chance to hear Andrews perspectives first-hand on this and the Asian region.
You’re invited to our latest round table meeting to discuss Q3 2024 market trends in APAC and look ahead to the APEC/ABAC Summit in Peru this November. We’ll also introduce our new Board members before the AGM in late November. If you plan to attend in person, please email me directly in addition to registering below, so I can track seating. We encourage in-person attendance for the chance for you to meet some new friendly faces. Date: Wed 25th September…
A KPMG and Pacific Basin Economic Council Webinar Thursday, September 19, 2024, 2:30 PM – 3:30 PM (SG/HK Time) Register here: Unlocking the Scope 3 opportunity – Insights from Asia Pacific businesses registration – Webex The climate crisis is intensifying, but so too is the movement to decarbonize. The past two decades have seen a concerted push by governments, investors and consumers to hold companies accountable for their carbon footprint with corresponding efforts in the business community to track and…
