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SPEEDA Expert Network Service

Expert's Insight: ESG in ASEAN

24 May 2023

Expert's Insight : ESG in ASEAN

Expert Network Service - FLASH Opinion

FLASH Opinion is a service that allows users to receive expert business insights. It was first launched in Japan in July 2020 as a new feature for the SPEEDA platform, alongside existing company and industry data, news, and trend information.

The service allows our users to connect with a network of experts from more than 200 countries- the equivalent of more than 375,000 knowledge assets globally, over 18,000 of them from the SEA region.

Users can submit questions to experts through the service and collect answers from more than five experts in less than 24hrs (or within just a few hours for quicker cases). They can then arrange a direct interview with the expert whose responses they want to delve into.

The feature was launched as a solution for users, and business professionals in Asia, adding insights from multiple experts to quickly and objectively.

Verify their hypothesis and explore deeper into any topics by arranging further interviews with the experts of their choice, to elaborate and explain more complex concepts.

Expert Insights - ESG in ASEAN

FLASH Opinion curates insights from experts with diverse backgrounds to enable our users in understanding the market trends in Southeast Asia comprehensively. For this article, we have reached out to our esteemed expert network and asked a series of questions to build a comprehensive understanding of the ASEAN ESG market, gathering diverse perspectives from experts.


  1. The most important factors that companies should be cognizant of for ESG Scoring
  2. Key Drivers of ESG Investments
  3. Latest trends of disclosure requirements by the respective governments for the ASEAN regions

Experts Profile: 

  • R.W | Research Fellow in Renewable Energy - Singapore
  • L.C | Economic Researcher - U.K
  • S.M | Business Analysts & Professor, Renewable Energy - Indonesia
  • N.L | Management Consultant in Renewable Energy, Environment, Health Care - Philippines
  • N.S | Consultant & Expert in ESG & Sustainability - Indonesia
  • M.P | Environmental Consultant & Engineer- Philippines


1. The most important factor that companies should be cognizant of for ESG Scoring

    • Net carbon emission, Carbon credits, and carbon offset (R.W)
    • Understanding each country's context, as ESG considerations vary across the regions. Companies must be aware of each country's specific requirements and expectations, culture, politics, economy, environment, and disclosure requirements from the respective governments (L.C)
    • Below are factors that mainly focus on Indonesia (N.L)
      1. Efforts to disseminate the importance of ESG scoring and determining indicators
      2. Selection for the right rating agency that can provide certainty results and is officially recognized by the government
      3. Separate the result of the ESG scoring and the assessment by the Jakarta Stock Exchange, so the companies can realise the benefits for companies, communities, and the government
    • The GHG Protocol (N.L)
    • Paying attention to operate impacts on a) Environmental sectors b) Social sectors c) Governance sectors (N.S)
    • In the Philippines, most companies are currently focusing on a) Environmental activities (e.g. "Carbon Reduction Projects") and b) Social activities (e.g. "Corporate Social Responsibility (CSR) projects"), while the government is fast-tracking the increase of renewables in the energy mix up to 30-35% (M.P)

2. Key drivers for the ESG investment acceleration

    • The global trend will drive the ASEAN market investments. In conjunction with the Paris Agreement, ASEAN can be a popular spot for creating carbon credits (R.W)
    • Increase in demand from investors for ESG investments and the growth of awareness of the importance of ESG factors for long-term sustainability and financial performance. This has been observed in Singapore, Malaysia, and Thailand (L.C)
    • Regulations, policies, and the technical guidelines to achieve the goal (S.M)
    • Strict regulation of corporate responsibility and sustainability, encouraging the adoption of environmentally friendly business practices (N.S)

3. Latest trends of disclosure requirements by the respective governments for the ASEAN regions

    • With the recent negative publicises of carbon credits and carbon offsets, the disclosure requirement is expected to rise (R.W)
    • Several ASEAN countries (e.g. Singapore, Thailand, and the Philippines) have recently introduced or improved their ESG disclosure requirements, such as the SGX ESG Reporting Guideline in Singapore (L.C)
    • For some countries, the government has applied information technology in the licensing process to provide certainty for companies in terms of time, cost, and stage of the procedure (S.M)
    • The ASEAN Corporate Sustainability Framework was launched in 2019 to provide guidance for companies in the region (N.L)
    • An increase in ESG disclosure by Governments, issuing regulations and guidelines for the sustainability reports (e.g. OJK, Bursa Malaysia, Monetary Authority of Singapore and Singapore Exchange, SEC, PSE, ASEAN Green Bond Standard, ASBS) (N.S)
    • Nowadays, disclosure reports are usually implemented in companies' KPIs as requirements for publicly traded companies (M.P)


ESG is a hot topic in ASEAN and for many companies worldwide. As seen in the experts' insights, many factors and perspectives must be considered for ESG scoring, key drivers, and government disclosure requirements. SPEEDA's Expert Insight service can help enhance the accuracy of your research and identify suitable interviewees for your research to gain a deep understanding of the answers you seek for your business quickly and in-depth, even with limited time.

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