Each year, Eurocham offers a programme on Sustainability tied to its annual awards event. Traditionally, it highlighted corporations’ efforts to adopt sustainable practices, such as reducing carbon emissions and implementing ESG and CSR principles. However, with the urgent global push for net-zero emissions by 2050, sustainability can no longer be a separate concept or trend. Businesses must now integrate sustainability into their core operations, making it a fundamental part of their innovations.
The EU’s Green Deal and Singapore’s Green Plan present a unique chance to modernize economies and societies for climate neutrality. Companies can invest in research and innovation to speed up transitions, test solutions, and involve both private and public sectors in pioneering ideas. It’s crucial for innovation teams to fully embrace and integrate sustainability into their daily operations and mindset.
SUSTAINOVATION is an amalgamation of sustainability and innovation, representing a movement that propels sustainable innovation forward.
EuroCham is working with Accenture as our knowledge partner to develop the framework of this sustainability programme. The sustainovation programme focused on five focus pillars which will be covered by 4 activity pillars. If you consider your company’s sustainable efforts to be impactful from a social and environmental perspective, if you are able to describe how and provide examples, we welcome you to share your company’s sustainability practices and policies, to collaborate with EuroCham on our Whitebook and to enter the Sustainability Awards 2024.
Sustainovative Energy Efficiency
To keep global warming to no more than 1.5°C – as called for in the Paris Agreement – emissions need to be reduced by 45% by 2030 and reach net zero by 2050. This pillar focuses on the development and implementation of efficient solutions across energy, manufacturing, heavy industry, building and construction sectors to achieve energy and resource optimisation – in order to reduce carbon footprint.
Sustainovative Value Chain
For organisations to be truly sustainable they must ensure responsible business practices inside their own organisation and across their entire value chain. This Pillar focuses on making sure that down the value chain, product designs, plants, warehouses, suppliers, sub-contractors, transportation providers and others adhere to the highest environmental, social and governance practices on a global basis.
This pillar focuses on Technology – providing solutions to help society become more sustainable, more efficient and shrink their carbon footprint. Technology must aim to address an urgent twofold imperative: A “With Technology,” approach which signifies a collaborative approach that involves integrating technology seamlessly into existing processes; and a “By Technology” approach where technology takes on a central role, acting as the driving force behind desired outcomes.
This pillar focuses on reinvented mobility solutions that will reduce greenhouse gas emissions and air pollution, and create sustainable, energy-efficient, and affordable modes of transport, including electric and alternative-fuel vehicles.
Financing for Impact
To achieve SDGs, investments decisions need to incorporate intentional and measurable social and environment impact right from the onset, in addition to achieving market-level returns. From communicating the objectives to stakeholders, to ensuring clarity and consistency and diligent monitoring of performance, this pillar aims to ensure these financial investments have a measurable sustainable impact.