16 Nov 2023

On 16 Nov 2023, Prof Johan Sulaeman, Director of SGFIN, participated in Singapore FinTech Festival 2023, moderating the panel session “Are Global Regulations Running Too Far Ahead of Tech Solution and Economic Realities?” The panellists were Eelco van der Enden, CEO of the Global Reporting Initiative (GRI); Helge Muenkel, Chief Sustainability Officer of DBS Bank; Dr Felicia Shaw, Accenture Climate & ESG Lead, Sustainability Strategy; and Jose Manuel Marques Sevillano, Director of the Financial Innovation and Market Infrastructure Department at Banco de España.

As moderator, Prof Johan highlighted the potential of advanced technologies, such as generative AI and machine learning, to optimize business decisions and promote sustainable operations in value chains. He argued that while regulations and ESG disclosures are necessary, they are not the ultimate goal. Collaborative efforts from all stakeholders—SMEs, corporates, and regulators—are essential to transform the business landscape. Deploying technology to align data with needs is crucial, and SMEs can maximize their contributions to this ecosystem by adopting a ground-up approach that incentivizes them to meet reporting requirements.