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Advancing ESG in ASEAN

Advancing Sustainability in ASEAN: Crowe Singapore, Donaldson & Burkinshaw and Carbon Next Form Strategic Partnership

27/05/2024
Advancing ESG in ASEAN

Crowe Singapore is pleased to announce a dynamic partnership with Donaldson & Burkinshaw and Carbon Next. This collaboration is a strategic response to the growing importance of Environmental, Social and Governance (ESG) regulations in Singapore and the ASEAN region.

The aim of this strategic Memorandum of Understanding (MOU) is to provide our clients with the tools and resources required to navigate the increasingly complex ESG regulatory landscape with confidence. We recognise the challenges these regulations present, and this partnership is our proactive step to offer comprehensive ESG solutions.

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zoom_in Memorandum of Understanding, Crowe SG, Donburk, Carbon Next
The MOU signing ceremony took place on Monday, 27 May 2024 at Donaldson & Burkinshaw's office. (From third left) Mr. Cheo Jun Hou, Chief Executive Officer and Founder of Carbon Next, Mr. Linus Ng Siew Hoong, Partner at Donaldson & Burkinshaw and Mr. Chia Shu Siang, Head of Sustainability & Climate Change at Crowe Singapore signed the MOU. Mr. Ray Lim, Co-Founder of Carbon Next, Ms. Gooi Chi Duan, Partner at Donaldson & Burkinshaw (Second from left) and Ms. Angeline Tan, Partner at Crowe Singapore (right) witnessed the signing ceremony.

Our combined expertise will enhance the carbon reporting process for our clients by integrating Carbon Next's carbon accounting software, making it more streamlined and organised. This initiative will also ensure that our clients are well-prepared for the European Union’s carbon reporting regulations, and the new carbon emissions audit regulations set to take effect by 2027 for all Singapore listed companies. This will also allow businesses to better plan their decarbonisation strategies and develop a comprehensive net zero roadmap.

A key benefit of this collaboration is helping companies prepare for future increases in Singapore's carbon taxes from $25 per tonne of carbon emissions to $45 and beyond, which will significantly impact local utility prices and indirectly affect businesses. By using Carbon Next's advanced tool, businesses can better plan their decarbonization strategies and develop a comprehensive net zero roadmap. This proactive planning will enable them to mitigate risks associated with higher carbon costs and seize opportunities for green financing from banks and financing institutions.

Additionally, this MOU will extend our network, connecting clients to an international array of advisors and contacts, fostering a global understanding of ESG issues within ASEAN.

At Crowe Singapore, we are committed to helping our clients navigate their ESG journey with confidence. This collaboration reinforces our dedication to serving as a trusted partner in an increasingly regulated and sustainability-focused business environment. We look forward to working with our partners and clients to create impactful ESG solutions.