CGS SUSTAINABILITY MILESTONES
10 Years of Sustainability Research Excellence
The year 2024 was significant in the progression of the Centre for Governance and Sustainability (CGS), formerly known as the Centre for Governance, Institutions and Organisations. It commemorates CGS’ 10 years of research excellence, thought leadership and achievements relating to corporate sustainability.
A July 2014 study on sustainability reporting in Singapore marked the first steps. It was co-led by CGS’ Professor Lawrence Loh together with Mr Thomas Thomas, then Founding Executive Director of the Singapore Compact for Corporate Social Responsibility.
Over 10 years, CGS’ sustainability reporting research scope expanded beyond Singapore to cover ASEAN and the Asia-Pacific (APAC) regions. It partnered ASEAN CSR Network to study six ASEAN countries and collaborated with PwC to study 14 APAC economies. Such development is all the more remarkable given that corporate sustainability only became mainstream in the early 2020s.
From Our Partners
Daniel Leung, FCCA
Country Manager
Association of Chartered Certified Accountants (ACCA) Singapore
“We are excited to see CGS continue this research excellence and collaborative approach with ACCA in the years to come.”
Dr Allinnettes Adigue
Director
ASEAN Network
Global Reporting Initiative (GRI)
“Over the past decade, CGS has been at the forefront of corporate sustainability and sustainability research in Southeast Asia, setting exemplary standards and driving impactful change across the region.”
David Gerald
Founder, President and Chief Executive Officer, Securities Investors Association (Singapore)(SIAS)
“Over the years, our collaboration on the SIAS Investors’ Choice Awards (ICA) has been immensely rewarding.”
Thomas Thomas
Chief Executive Officer
ASEAN CSR Network
“The work done by CGS has enabled businesses and policymakers to make informed decisions for the benefit of society. Your role will only grow in importance and relevance.”
CGS expanded its research geographic scope beyond Singapore to ASEAN and APAC.
With rising global concerns about climate change, CGS launched its inaugural reports on climate and nature-related reporting. In collaboration with the Global Reporting Initiative, we studied how six ASEAN economies fared in their climate reporting efforts. Meanwhile, our biennial nature-related reports covering APAC economies in 2022 and 2024 were made possible with respective seed funding from CGS’ advisory board members Professor Lutfey Siddiqi and Professor Patrick Loh.
CGS published its inaugural reports on climate and nature-related reporting in 2022.
CGS also ventured into new areas of research such as digital-related reporting. In June 2023, CGS co-produced a report with the Tech for Good Institute (TFGI) on digital economy companies’ sustainability endeavours in Southeast Asia.
The Centre’s comprehensive assessment of various fronts of sustainability brought it afar. In April 2022, the Competition and Consumer Commission of Singapore (CCCS) tasked CGS to do a Singapore study on greenwashing in online marketing, a report that was subsequently published in November 2023 (see left).
Another opportunity surfaced from the CCCS’ April 2022 media announcement. CGS was invited by the United Nations Conference on Trade and Development to do an online presentation on “Consumer Perception Regarding Environmental Claims”, which materialised on 31 May 2022.
In August 2023, CGS was the knowledge partner for the inaugural Sustainability Impact Awards event at The Fullerton Hotel where Ms Grace Fu, Minister for Sustainability and the Environment, was the Guest of Honour. CGS has been commissioned by The Business Times to undertake the Singapore assessment for the second year running in 2024, with a view to expanding it to the ASEAN region in the near future.
November 2023 also marked another historical milestone for CGS. For the launch of the Sustainability Reporting Review 2023 research results, Deputy Prime Minister (DPM) of Singapore Heng Swee Keat, graced the event as Guest of Honour. For the first time, the review also included new climate-related and climate transition assessment matrices. This is the third biennial study commissioned by SGX to review the sustainability reporting of all Singapore-listed companies since 2019.
In January 2024, CGS released its first casebook on Cases in Sustainability: Strategy Perspectives and Applications.
The culmination of sustainability-related knowledge and insights over a decade is not possible without support from organisations, the industry and regulators. With guidance and leadership from NUS Business School, CGS’s sphere of influence will continue to grow from strength to strength. Without a doubt, CGS has become part of the governance and sustainability ecosystem, and we endeavour to contribute to its progress for years to come.