The effects of climate change are already being felt, from lethal heat waves to severe flooding, and Asia has been and will continue to be significantly impacted. With $4.7 trillion of GDP at risk, how can the business community reverse this trend and preserve the longevity of its businesses and human capital? LESA 2021 seeks to address this and more.
With the most to lose from climate change (up to $4.7 trillion in GDP according to recent McKinsey analysis), Asia is on the frontline of the climate crisis. The science is clear, and the financial sector has on its radar the increased risks of severe flooding, typhoons, and drought. Worldwide, Environmental, Social and Corporate Governance (ESG) investing has experienced a wave of growth on the back of the pandemic and a fresh focus on sustainability, and ESG assets are set to account for over a third of assets under management by 2025 (Bloomberg).
In Southeast Asia, sustainability-first business models, climate risk assessments, and ESG investing are still nascent, yet the impacts of climate change are already being felt. Are Asia’s businesses equipped to face these challenges? How do we start to mitigate the impact? Is it too late? Prof. John Sterman, Director of the MIT Sloan Sustainability Initiative and keynote speaker at this year’s upcoming Leadership for Enterprise Sustainability Asia (LESA 2021) conference is adamant that there is hope.
Sterman will anchor this event, hosted by Asia School of Business located in Kuala Lumpur, Malaysia, which centers around the urgency for Southeast Asia and emerging world businesses to take critical steps to mitigate climate risk and chart a new way forward. Representatives from organizations such as MIT Sloan, McKinsey & Company, Esquel Group, BlackRock, United Overseas Bank (UOB) and many more will also be speaking during LESA 2021.
As business leaders in the region prepare for “the next normal” and as Malaysia, Indonesia, Thailand, and Singapore recently announced their pledges to move towards becoming carbon neutral in the next few decades, LESA 2021 invites all business leaders, policy makers, entrepreneurs, and individuals to join in the conversation – on both the challenges and the science-backed, economically viable solutions and technologies to adapt and face this climate-changed economy in an Asian context.
“Instead of leaving things on a ‘wait and see’ basis, where individuals are depending on businesses, smaller companies are depending on large conglomerates to take the lead, and governments point to other governments to implement policies, LESA 2021 aims to spread the message that every single person and entity has a role and responsibility to play in steering us in the right direction before the consequences become irreversible,” said Prof. Charles H. Fine, (Ph.D. Stanford) CEO, President, and Dean at Asia School of Business.
Breaking Change Down into Small, Actionable Steps
Having spent decades studying people’s reactions and efforts to mitigate climate change, Sterman asserts that people do care about the environment. “The primary issue is that people are overwhelmed by the complexity and long-time delays, especially when we are so used to instant feedback.”
When we are faced with consequences that seem catastrophic, overwhelming, and hopeless, he says, “Most tend to convince themselves that ‘the problem is not that bad’, ‘the market will solve it’, or ‘the government will address it’.”
To challenge these notions and call people to take individual and collective action, Sterman developed the En-ROADS and C-ROADS simulations, which uses the analogy of a bathtub (“The amount of CO2 in the air is just like the amount of water in a bathtub; if you continue to fill it faster than it drains out, by law of basic physics, it will rise until it overflows”) – and made the simulations available to the public at large. Just like preparing a pilot for a potential crash, simulations help teach and train pilots so that they can make necessary adjustments to prevent the crash.
“The conclusion of the simulations is always the same – we all play a part, and no part is too small. Participants always emerge empowered,” concludes Sterman, who has also run multiple such simulations for top government, corporate, and NGO levels in over 80 countries around the world, and for students including at Asia School of Business.
This simple, but powerful idea – that the cumulative effect of small actions can move mountains – is exactly the key message that the Asia School of Business is attempting to spread through this year’s LESA 2021 conference.
Action and Change Stems from Mindset
“Asia has a great opportunity – to chart a new course forward in managing social, economic, and climate risks. But charting new territory will take fresh ideas, approaches, courage, agility, and a strategic mindset,” said Prof. Fine.
LESA, currently in its 9th year, will be held virtually this year from 15-18 November 2021.
The conference consists of more than 16 hours of content spread over 4 days and features business leaders, industry experts, academics, and sustainability practitioners from all around the world who will focus on insights and learnings on how to embark upon sustainability for Asia.
The conference will also see the culmination of the Iclif Leadership Energy Awards (ILEA), which is sponsored by Maybank and pays tribute to the individuals who are using their “Leadership Energy in Action” to make a positive, sustainable impact in their organizations or communities. The conference is also supported by Associate Sponsor Sarawak Energy.
With sustainability as a key pillar for ASB and the urgent need for mass awareness amongst business leaders, LESA 2021 extends complimentary Discovery Passes to all interested individuals. The Discovery Pass provides access to a limited number of pre-selected sessions to make the insights shared at LESA accessible to a greater number.
For the full LESA experience, an All-Access Pass which includes access (live and on-demand) to all keynotes, masterclasses, and panel sessions is now available for purchase at https://asb.edu.my/lesa.
Services
Stakeholder mapping, analysis, engagement and communication needs to be detailed to avoid business losses or even worse, a crisis. How can you do this effectively to prevent failure? ...
Data-driven business decisions have never been as crucial, especially in this era. MGBF leverages off, technology, experience and market presence to aid businesses in making accurate decisions. ...
MGBF provides comprehensive strategic advice and results-focused solutions to solve clients' problems in business-government relations so they can focus on their core business. ...
A critical business challenge is meeting the right decision-makers and potential buyers through the best channel and platform. How will you improve your business competency? ...
Upcoming Events
MGBF founding chairman Nordin Abdullah and UMW Toyota president Datuk Ravindran K. will delve into the convergence of automotive innovation and environmental sustainability in Penang, Sarawak, Johor and Pahang.
Hosted by menumiz™ – an end-to-end restaurant management system – this roundtable will feature a case study presentation and a panel session to discuss the latest digital trends, challenges, and opportunities within the food and beverage sector.
In this episode of 'A Working Lunch with Nordin', MGBF's founding chairman, Nordin Abdullah, will host this discussion focusing on the biggest threats and opportunities for businesses as we look to manage change in the South China Sea.
This MGBF Roundtable will focus on regional food security issues and trends in the regional supply chain, and trade regulations and policies, including a new geopolitical tool i.e., weaponisation of supply chains.
MGBF In The News
Planet QEOS, KIS BlOCNG San Bhd, and the Sarawak Land Consolidation and Rehabilitation Authority (SALCRA) have officially signed a tripartite memorandum of understanding (MoU) to establish a collaborative framework aimed at producing bio-hydrogen via the Steam Biomethane Reforming (SBMR) Process. The MoU was signed by Planet QEOS executive chairman Dino […]
Planet QEOS and China Machinery Engineering Corporation (CMEC) are interested in investing RM10 billion to co-develop advanced Megawatt peak (MWp) agrovoltaic in Baram, to further boost Sarawak’s green energy initiative and food security. Sarawak Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg was briefed on Friday by both the […]
Last week SPM results came out, 373,974 aspirants who have been waiting patiently over the last few months would now know their fate. Some 10,109 have received all A’s, the golden standard of academic success and the ticket to those looking to study the “more advanced” subjects in university. Proudly, […]
The classic knee-jerk reaction is to say, fire the coach, change the leadership of associations, and reduce the funding till they start performing better. This kind of negative reinforcement may work for kindergarten children, but we are dealing with high-performance adults – individuals much further along in their psychological and […]
Since its earliest tea plantations in 1929, Cameron Highlands has grown to become a key player in the agricultural landscape of Malaysia, producing 40 per cent of all vegetables grown. Despite Malaysia shifting its economic focus away from agriculture, the industry remains imperative for food security and the livelihoods of […]
Although at first glance the travel industry and the agricultural sector appear to have nothing in common, they actually share more than meets the eye. The economic benefits of tourism to the agricultural sector can be multiplied several times over. “Tourism brings the end consumers closer to the source, which […]
The Malaysia Global Business Forum (MGBF) recently held a high-level roundtable themed ‘Designing the Future of the Digital Economy’, attended by industry leaders and business associations. The guest of honour was Yang Berhormat Syerleena Abdul Rashid, the Member of Parliament (MP) for Bukit Bendera in Penang. The MP’s Special Session […]
The Malaysia Global Business Forum (MGBF) will be hosting a roundtable on ‘Designing the Future of the Digital Economy’ on 23 February 2023. It is the culmination of the first three MGBF Exclusive Roundtable Series titled ‘The Evolving Threat Matrix in the Digital Economy’ held throughout 2022. According to the […]
The Founding Chairman of the Malaysia Global Business Forum (MGBF), Nordin Abdullah, today spoke on Bernama TV’s leading English talk show, The Brief, hosted by Jessy Chahal, on the topic of a stable political reality and what that means for the Malaysian economy. Nordin said, “The first thing that it […]
More than 1,100 years ago, Muhammad ibn Musa al-Khwarizmi was developing the mathematical formulas that we know today as algorithms which now have become so intertwined with the business fortunes of global media giants and the very fabric of geopolitics. A series of recent high level international reports have revealed […]
KSK Land has been recognised by the Malaysia Global Business Forum (MGBF) for its role in attracting high net-worth individuals to Malaysia post-pandemic. The first challenge in investor attraction is “selling” the country. In the context of Asia, Malaysia is competing with some very established investment destinations. The second […]
Malaysia, in particular Kuala Lumpur, continues to position itself as a regional centre to do business, educate a family and enjoy a global lifestyle. One company, KSK Land, has taken the lead in positioning itself and the city of Kuala Lumpur as a property investment destination for the global citizen […]
The upcoming budget represents an opportunity to build resilience in the critical sectors that will form the backbone of the country’s future-facing economic ambitions. This however needs to be achieved in the context of managing the community sectors most impacted by COVID-19 over the past two years. The Keluarga Malaysia (Malaysian Family) […]
Malaysia Global Business Forum (MGBF) has moved to support the creative economy as the overall economy moves into a recovery phase following the COVID19 pandemic. As a step in the direction of normalcy, the MGBF has agreed to host the art exhibition “I Know You’re Somewhere So Far” by one […]
Congratulations to Datuk Seri Ismail Sabri Yaakob for taking up the mantle of the ninth prime minister of Malaysia. There is nothing normal about the situation; it could not have been scripted but it has kept the spectrum of media, mainstream and social, gripped. The first order of business for […]
In a stirring speech to the nation, President Joseph R. Biden, Jr. stamped his brand of leadership on the presidency, in his first act as the 46th president of the United State of America, it signaled several shifts. Perhaps the weather was foreboding with snow falling before the ceremony that […]
KUALA LUMPUR, 6 July 2022 – As the global economy continues to deal with unprecedented levels of disruption caused by the pandemic and the conflict between Russia and Ukraine, the convergence of energy security and food security issues has become a front-of-mind issue faced by policy makers and consumers alike. […]
KUALA LUMPUR, 23 June 2022 — Malaysia Global Business Forum (MGBF) ties up with scoutAsia to ensure that businesses are equipped with deeper regional insights. The past two years has seen a massive shift in the way businesses are conducted with digitisation, digitalisation and automation continuously being adopted to improve […]
KUALA LUMPUR, 25 May 2022 – The Malaysia Global Business Forum (MGBF)’s exclusive roundtable on ‘Security Concerns in Critical Value Chains’ was held in a hybrid setting yesterday at the Eastin Hotel Kuala Lumpur. The guest of honour was Yang Berbahagia Tan Sri Dato’ Seri Rafidah Aziz, former minister of […]
