NUS Sustainability CONNECT | Masterclass and Industry Panel Session
20 Sept 2023
As part of the NUS Sustainability Connect Initiative which ran from August to September 2023, the Sustainable and Green Finance Institute (SGFIN) has contributed a Masterclass on “Green and Sustainable Finance” to showcase NUS’s efforts across research and innovation, education, campus operation and student engagement. This initiative also served to foster connections among various stakeholders within the NUS community.
The Masterclass, presented by Associate Professor Zhang Weina, the Deputy Director of SGFIN, commenced with an insightful overview of the roles and objectives of Sustainable and Green Finance. Public interest on this topic continues to rise due to the urgency of climate challenges.
Prof. Zhang took a deep dive into the nuanced development and diverse forms of sustainable finance typology that have emerged and continue to evolve. This was introduced as a segue into the exploration of various green financing instruments and their classification. A spotlight was placed on three green bonds issued by NUS between 2020 and 2023 to help the audience better appreciate green finance in practice. Moreover, this gave the opportunity to illustrate the tangible impacts of sustainable practices deployed on campus and unveil the ways in which they are benefiting our staff and student communities. Prof. Zhang presented a numerical example focusing on SDE4, NUS's pioneering net-zero building, showcasing the social and environmental value it created.
The latter part of the session featured a distinguished panel of industry experts invited to shed light on the challenges and opportunities for potential employers as well as the new graduates who have been trained in this specialized field. We were very pleased to welcome Dex Chen from EY, Eleonore Dachicourt, CFA from BNP Paribas, Sue Helen Nieto Hernandez from bp, and Vikram Raman from Schneider Electric. An engaging discussion revolved around the development and opportunities that both prospective employers and recent graduates can look for in the emerging field of sustainable finance.
Discussions included reflecting upon the unique conditions of the Singapore job market as well as the broader trajectory across Asia, and considering what balance of skills and job functions are of particularly high demand at this point in time. Views were also given as to how there are valuable symmetries between impact investing versus traditional investing in terms of process, but that the vocabulary of impact investing still makes it necessary for financial professionals to be trained with new sustainability related knowledge – not least of all because of the vast quantity of acronyms used when discussing green and sustainable finance!
The panellists unanimously emphasized the significance of practical experience gained through internships, staying attuned to the ever-evolving landscape of sustainability, developing strong interpersonal skills, and possessing an unwavering commitment to continuous learning to prepare for the evolving landscape of sustainable finance. Another common thread was that the E and S of ESG cannot be taken in isolation. Environmental improvements come hand in hand with social improvements, and they are reinforcing attributes of impact.
Some time was spent on the topic of the soft skills and mindset that employers may want to see. This discussion shed light on the practical importance of diversity and that the intersection of different disciplines, and people with differing backgrounds enables better grounded appreciation of sustainability as a framework for driving business activities. Sue Helen Nieto Hernandez’s personal career journey was a valuable case in point, having spent earlier years working with organisations that advocate for climate change avoidance to working within an oil major. Shifts like this reflect how mainstream organisations have embraced the importance of decarbonisation, and the need to build out teams of professionals with new and expanded skillsets and modes of communication than they have relied upon in past years. In other words, there is a wealth of new employment opportunities for sustainability aligned professionals.
SGFIN is honoured to have been a part of this year’s NUS Sustainability CONNECT, and we hope to have provided a platform for individuals to find out more about what the MSc in Sustainable in Green Finance has to offer, as well as shed light on the challenges and opportunities for potential employers as well as new graduates trained in this emerging, yet fast-evolving and diverse space.