Now nine years into his role at SMU, Associate Professor of Finance and Co-Director of Singapore Green Finance Centre (SGFC) Liang Hao looks back at various profiles of students he has taught for nearly a decade. He was among the first to start teaching the topic of sustainable finance. As market demand for sustainable finance grew, so did SMU’s offerings. This August, SMU will welcome its first batch of full-time and part-time Master of Sustainability graduate students.
SMU Associate Professor of Marketing Hannah Chang said that Singapore’s implementation of a plastic bag charge has led to the beginning of a change in norms. However, mindset changes at a different pace for everyone, she added. Assoc Prof Chang also said awareness is important as “many times, people may not be fully aware or cognisant of the type of negative impact the single-use plastic bag has on our environment”. However, she noted that around the world, the rolling out of such practices usually happens slowly.
In a commentary, SMU Professor Emeritus of Operations Management Arnoud De Meyer discussed the need for people in Singapore to go beyond the call of duty, develop entrepreneurial behaviour, take risks, commit to change, deploy their talents, and prove themselves. He noted the hurdles for young people to take risks and engage in change and outlined the five types of effort needed for people to achieve success in their professional life.
In an interview, SMU Assistant Professor of Strategy & Entrepreneurship (Education) Terence Fan discussed why Certificate of Entitlement (COE) premiums closed mixed in the latest bidding exercise. He opined that COE prices may not experience any major changes for the remainder of the year, subjected to any economic and political changes in the coming months.
Commenting on the connectivity issues for some remote and central estates, SMU Assistant Professor of Strategy & Entrepreneurship (Education) Terence Fan said that Singapore may be well-connected by global city standards, but within the local context, there is room for improvement. He explained that, unlike other cities, many residents in Singapore do not own private vehicles, and taxi and private-hire rates are high, so a reliable transport system is essential.
Local supermarkets have been charging for single-use shopping bags for a year now. Some plastic bag manufacturers have noticed a significant decrease in orders from supermarkets, but retail demand remains high. SMU Associate Professor of Marketing Hannah Chang noted that implementing charges for plastic bags may not happen overnight across all stores. Instead, it needs to be introduced gradually, allowing people time to adapt and develop the habit of bringing their own bags.
Commenting on how banks should relook incentives to promote sustainability, SMU Associate Professor of Finance and Co-Director of Singapore Green Finance Centre Liang Hao noted that many motorists still rely on petrol, and until cleaner-energy vehicles become more widespread, banks need to continue supporting their current customer base. “Transitioning too abruptly could alienate customers and limit the effectiveness of sustainability initiatives,” he said.
During the recent TFWA Asia Pacific Conference, SMU Lee Kong Chian Professor of Marketing Nirmalya Kumar talked about how India’s positive economic trajectory has paved the way to a burgeoning middle class with disposable income and a desire to travel. India – and the opportunity it offers for travel retail stakeholders – was one of the big topics during the Singapore show.
Commenting on the connectivity issues for some remote and central estates, SMU Assistant Professor of Strategy & Entrepreneurship (Education) Terence Fan said that for areas where it could take a while to get to the train station via bus, it would be helpful for residents to get a rail connection, perhaps with a combination of the Light Rail Transit system to maintain efficiency. He explained why Singapore's public transport network is more comparable to Tokyo's rather than London, due to Tokyo's extensive coverage and the two cities' high population density.
Commenting on how banks should relook incentives to promote sustainability, SMU Associate Professor of Finance and Co-Director of Singapore Green Finance Centre Liang Hao noted that many motorists still rely on petrol, and until cleaner-energy vehicles become more widespread, banks need to continue supporting their current customer base. “Transitioning too abruptly could alienate customers and limit the effectiveness of sustainability initiatives,” he said.
