The focus of this year’s event was on the action that Asia must take to build resilience and tackle the climate crisis. In a region that is exceptionally vulnerable to climate disasters and that also sees rapidly growing energy demands, “it is also here, in Asia, that the fight against climate change could be won or lost,” highlighted Senior Minister Teo Chee Hean in his Keynote Address.
As we learnt from esteemed speakers about the emerging technologies, forward-thinking policies, innovative financing mechanisms and strategic partnerships that can help address climate change in the region, one key insight stood out: The success of harnessing these opportunities hinges on credible stakeholder engagement strategies that are data-backed and impact-focused.
Here are some reasons why:
When decision-makers engage their stakeholders on decisions made towards the climate agenda, it is always useful to anchor these conversations in their intended impact, and with data that has been well-evaluated. For example, Boards of corporations must be able to rationalize any decision to adopt a particular climate technology to their wider stakeholders based on evidence of the technology’s efficacy, scalability and long-term impact. These can be communicated through sustainability reports, impact reports, or any other sustainability campaigns that are targeted towards specific stakeholder groups.
Similarly, when decision-makers continually engage their stakeholders on the progress of initiatives that have been embarked upon through periodic disclosures of performance against intended impact via such channels, this also solidifies stakeholder buy-in, building trust for the implementation of other green initiatives and innovative solutions in the future.
Progressive climate policies often require strong public understanding and endorsement to be effectively implemented and sustained. When organizations use data-centric insights to communicate the urgency of the climate crisis to their stakeholders and engage stakeholders on the impacts that they want to drive, they are educating their stakeholders on the same and building a compelling case for climate action.
Companies should ensure that their corporate reports pair data with impact so that these publications are not just report cards, but catalysts for change, engagement and long-term value creation. Doing so fosters a sense of shared responsibility on the issue amongst their stakeholders, who essentially contribute to public sentiment. These stakeholders will eventually go on to support public policy decisions on climate action, creating the political will necessary for governments to enact and enforce forward-looking climate policies and regulations, setting the stage for further climate action from the private sector and civil society.
While many investors remain cautious about green finance, Susan Chan, Senior Managing Director and Head of BlackRock APAC, shared that “the financing piece is only going to become more and more important” in addressing climate change. This is where data-backed and impact-focused corporate reports can be game-changers in corporates’ investor engagement strategies.
Clear, outcome-focused messaging for sustainable projects can give investors the information that they need to ensure that their investment choices reflect their ESG principles and impact mandates. In addition, engaging investors with empirical data on the projected risks and returns of potential investment opportunities, and aligning these datasets with internationally recognized reporting standards can further boost the credibility and comparability of investments, enhancing investor confidence in climate finance.
In a region as large and diverse as Asia, players from different sectors and economies can lose sight of the broader climate agenda and get caught up in negotiating from their own vantage points. This is why the most effective partnerships are often characterized not only by the presence of a joint vision, but by effective stakeholder engagement, where partners can communicate with each other seamlessly, to share knowledge, build capacities, and collaborate.
Such effective stakeholder engagement can take the form of adopting complementary or similar impact measurement and corporate disclosure frameworks such as the SDGs, or global standards such as the GRI or ISSB’s IFRS S1 and S2 Sustainability Disclosure Standards. Engaging one another using meaningful datasets and impact indicators will enable partnerships to scale and thrive.
We live in an increasingly polarized world, with geopolitical shifts and recalibrated corporate ambitions. More than ever, we need to ensure that motivations behind the climate agenda are authentic and credible, directions are not given on a whim, and decisions are made to drive measurable outcomes for a more sustainable world. Data-backed and impact-focused engagement will build trust with stakeholders, and demonstrate a tangible rationale for their participation, investment and action in the climate agenda. This will create the momentum for an all-of-society approach towards greener ecosystems in Asia.
As a leading corporate reporting and stakeholder engagement agency, Black Sun Global deeply understands how every stakeholder engagement opportunity can be a catalyst for credibility, connection and transformative impact. As the region takes bigger steps towards moving the climate agenda, we partner with organisations to transform traditional disclosures into strategic tools to support strategic decision-making, foster stakeholder buy-in and mobilize collective action.
If you'd like to chat with one of our APAC team about how we can help you with your strategic communication challenges, please get in touch with our Marketing and Development Manager, Beryl Leong.
Black Sun Global is a stakeholder advisory and engagement agency that's been driving transformation and positive change for ambitious brands for more than 20 years. With deep expertise in disclosure and reporting, ESG, sustainability, and digital engagement, we reshape how organisations connect with customers, investors, employees, and the wider world.
We are trusted partners to some of the most influential global organisations, sparking innovation and sustainable performance through our strategic insights, partnerships, and proprietary technologies.
As founders of the Positive Change Group, we are on a mission to create a new kind of stakeholder relations partner. Our world-class specialists work closely with executive leadership teams to protect reputations, inspire trust, and promote responsible business practices - building resilience and long-term value in a rapidly changing world.
For more information, please visit: www.blacksun-global.com
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