[Featured Photo: The Sino-Singapore Dialogue Speakers. From right: Ms Yeo Lian Sim (panelist), Vice Chair of the Taskforce on Climate-Related Financial Disclosures (TCFD), Special Advisor on Diversity, Singapore Exchange (SGX), Singapore; Professor Ang Hak Seng (moderator), Director for the Centre of Excellence for Social Good at the Singapore University of Social Sciences (SUSS), Adjunct Professor with Nanyang Centre for Public Administration, NTU; Major General (Ret’d) Restituto F. Padilla Jr (Panelist), Executive Director for Corporate Public Policy, Risks and Sustainability, PTC, the Philippines; and Dr Chu Tien Dat (panelist), Vice Director of International Cooperation Department, Vietnam Cooperative Alliance, Vietnam.]

‍

Sustainable Development of China and ASEAN in a VUCA World

The 12th Stratagem Group – Nanyang Technological University (NTU) Sino-Singapore Dialogue, held on November 25, 2022, explored the challenges and opportunities of sustainable development in China and ASEAN within a volatile, uncertain, complex, and ambiguous (VUCA) world. The Dialogue was held in conjunction with the 30th Anniversary of the Nanyang Centre for Public Administration (NCPA) and the 15th Anniversary of the Lien Ying Chow Legacy Fellowship (LYCLF).

The event, held at Marina Bay Sands in Singapore, featured speakers from the Philippines, Vietnam, and Singapore, and attracted over 70 in-person attendees and 200 online participants from various industries and countries.

Professor Ang Hak Seng, Director for the Centre of Excellence for Social Good at SUSS and Adjunct Professor with NTU's NCPA, moderated the discussion. He framed the context by highlighting the increasing uncertainty and complexity of the post-COVID world, citing issues such as Sino-US tensions, the Russia-Ukraine war, protectionism, climate change, energy security, inflation, and food security. He emphasized the need for governments and businesses to adapt to this VUCA environment to maintain competitiveness and relevance, and the importance of regional cooperation for sustainable development.

• Ms. Yeo Lian Sim, Vice Chair of the Taskforce on Climate-Related Financial Disclosures (TCFD) and Special Advisor on Diversity at SGX, stressed the growing importance of ESG (Environmental, Social, and Governance) factors for businesses. She argued for stronger government regulation and closer partnerships among regional regulators to ensure uniform adherence to sustainability standards.
• Major General (Ret'd) Restituto F. Padilla Jr., Executive Director for Corporate Public Policy, Risks and Sustainability at PTC (Philippines), highlighted the shift from "Just-In-Time" to "Just-In-Case" business models due to supply-chain decoupling and increasing global complexity. He emphasized that sustainable development is now a primary consideration for businesses due to regulatory and societal risks.
• Dr. Chu Tien Dat, Vice Director of the International Cooperation Department at the Vietnam Cooperative Alliance, warned against greenwashing and called for transparent regulations, consistent enforcement, and clear metrics to assess sustainability performance. He also advocated for developed countries to partner with developing nations in tackling climate change, emphasizing the importance of equitable carbon taxation policies.

The dialogue concluded with a unanimous agreement that sustainable development requires a collaborative effort from companies, regulators, and citizens. The panelists expressed optimism that regional countries can work together to overcome the shared challenges of climate change, geopolitical tensions, aging populations, and the fourth industrial revolution.