EBC Newsletter – April 28, 2021

With the announcement by Prime Minister Suga that Japan will become carbon neutral by 2050, the energy sector, a sector with a large carbon footprint, has stepped up to do its part. The EBC Energy Committee with its unique role, is one of the more active EBC committees. It has a wide variety of companies as members, from infrastructure to renewables, to project management and nuclear. The Committee is working closely with the EU Delegation and the Japanese Government, mainly the Agency for Natural Resources and Energy (ANRE). The Committee is also working with its sister committee at the ACCJ, the ACCJ Energy Committee.

Recently, the committee has also been busy inviting external speakers to the committee. This has offered specific insight into particular components of the energy sector. If you are interested in the Energy Committee, why don’t you come to the next committee meeting on 12 May from 13:30? We will have Japan NRG Tom O’Sullivan and Yurij Humber present and discuss some of the energy transition developments in Japan.
Please email the EBC Policy Director, Mr. Bjorn Kongstad, to attend this webinar.

As a member of the European Business Organisation Worldwide Network (EBOWWN), spread out across 45 countries, we are pleased to introduce you to two webinars organised by the European Chamber of Commerce in Singapore on 11 May, on Electric Vehicles: Challenges and Opportunities for Adoption and on 12 May on Digitalisation in Trade Finance and its Impact on Regional Trade.

Enjoy these events!

We hope you stay positive and healthy during this difficult time.

Valerie Moschetti
EBC Chief Operating Officer

Recently, the committee has also been busy inviting external speakers to the committee. This has offered specific insight into particular components of the energy sector. If you are interested in the Energy Committee, why don’t you come to the next committee meeting on 12 May from 13:30? We will have Japan NRG Tom O’Sullivan and Yurij Humber present and discuss some of the energy transition developments in Japan.

Please email the EBC Policy Director, Mr. Bjorn Kongstad, to attend this webinar.

Electric Vehicles (EV) have the potential to reshape the transportation sector and beyond drastically cutting carbon emissions and clearing the way for significant climate progress. Many companies in the industry see a huge opportunity and are channelising efforts to capture a piece of this space. To support this transformation significant investments in infrastructure, vehicle tech and critical car components have been made.
However, “adoption” of EVs is still in its early stages but it is crucial to ensure the efforts made bear fruit.  A successful process of adoption needs clarity in the consumers‘ minds (B2B & B2C) with respect to various moving elements around EV. Leaders of the industry need to step forward and guide, not just their organisation but the industry as a whole. They are the pacesetters who should navigate us through the future.

Program and registration: Webinar – Electric Vehicles: Challenges and Opportunities for Adoption – EuroCham

12 May: Digitalisation in Trade Finance and its Impact on Regional Trade

To a large extent, global trade still very much relies on paper-based processes throughout the chain, from the exporter to the importer. As their main facilitators, financial institutions sit at the centre of these transactions, bear the associated financial risks and are responsible in the eyes of the regulators.
Even before 2020 and the impact of Covid-19, the industry was already looking at leveraging technology to digitalisethese exchanges and answer multiple growing challenges such as fraud, trade-based money laundering, customer experience and operational efficiency.
The disruption experienced last year only reinforced the need for a strong push on Trade Finance digitalisation. In ASEAN itself, several countries saw their import & export flows suddenly reduced by up to 90% due to the impossibility to open offices and exchange paper-based trade documentation between parties.
A survey by the International Chamber of Commerce (ICC) reveals that 77% of the 346 responding banks were considering transitioning to digital as a way to reinvent their trade finance business, allowing them to significantly reduce their costs and better serve their customers.
Eurocham Singapore’s Regional Trade Committee and Financial Services Committee are co-organising a Webinar to update the community on the latest changes on the front of the Digitalisation of Trade Finance, its impact on regional trade and the challenges still faced by industry players. This session will bring together representatives from banks, corporates and technology providers to discuss the challenges, solutions and opportunities associated with this major industry trend.

Program and Registration: Webinar: Digitalisation in Trade Finance and its Impact on Regional Trade – EuroCham

This year’s White Paper is called “Strengthening partnerships – in crisis and opportunity alike” . The opportunity is of course referring to the EU-Japan EPA that entered into force on February 1, 2019. Unfortunately, at the same time the COVID -19 crisis struck the world.

We are, however, confident that with our recommendations, the European and Japanese economies and companies will continue to prosper.