SINGAPORE: CGS International Securities (CGS International) has released its first sustainability report, highlighting its dedication to sustainable development within Southeast Asia’s (SEA) financial services sector. This independently assured report adheres to the Global Reporting Initiative and the Sustainability Accounting Standards Board standards.
In the report, Mdm Chang Yu, Chairlady of CGS International and CEO of CGS International Holdings Limited, stated, “CGS International is more than a leading financial services provider in Asia; we have a broader role to play. Whether facilitating collaborations between China and ASEAN or fostering financially savvy communities, we aim to uplift the lives of those in the markets we serve.”
Ms. Carol Fong, Group CEO of CGS International, added, “By leveraging our extensive financial networks across ASEAN, CGS International is committed to steering financial services towards sustainable development in the region. Our goal is to integrate environmental, social, and governance (ESG) considerations into our products and services progressively, thereby empowering our customers with more opportunities for sustainable investment.”
The report details the company’s progress in its early journey toward its eight Sustainability Focus (8SF) areas, a key component of CGS International’s Vision 2025. This vision positions sustainability as a strategic pillar in establishing CGS International as a leading world-class investment bank in Asia.
The report also covers GHG emissions, including Scope 1, 2, and 3 (Category 1). CGS International has pledged to expand its Scope 3 GHG emissions measurement to include business travel starting in 2024 and will develop a climate strategy to manage these emissions in the future.
To bolster its sustainability efforts, CGS International has launched the ASEAN Institute of Carbon Neutrality (AICN). AICN aims to promote climate mitigation and adaptation by developing thought leadership for capital markets. Mr. Kevin Lee, Group Head of Sustainability at CGS International, noted, “AICN leverages CGS International’s award-winning research team to advance sustainable finance knowledge in SEA through various platforms. By partnering with local entities in Malaysia, Indonesia, Singapore, and Thailand, we aim to strengthen knowledge and networks to mobilize capital towards climate action.”
In December 2023, CGS International signed a Memorandum of Understanding with the National University of Singapore (NUS), marking NUS as AICN’s first partner. AICN and NUS’ Sustainable and Green Finance Institute are collaborating on three research projects on renewable energy and the just transition in SEA, with findings expected by Q4 2024.
AICN will also host a series of webinars on sustainable financing to enhance ESG knowledge. The first webinar, “Understanding Just Transition & Climate Finance in the ASEAN Context,” will be held in July 2024, in collaboration with NUS.
