Sustainable businesses can contribute to 230m jobs by 2030 in Asia:...

Sustainable businesses can contribute to 230m jobs by 2030 in Asia: Report

jobs in Asia

Business leaders and entrepreneurs can tap new market opportunities worth US$5 trillion (S$6.9 trillion) and generate 230 million jobs in Asia by 2030 through sustainable business models, according to the Better Business, Better World Asia report.

The survey was conducted by the Business & Sustainable Development Commission (BSDC) in partnership with investment group Temasek Holdings and consultants AlphaBeta.

The report identified in Asia four key industry systems: Food & agriculture (US$1 trillion), energy & minerals (US$1.9 trillion), cities (US$1.5 trillion) and health & well-being (US$670 billion).

Of the total value for Asia, close to half is estimated to be in China, followed by India and developing and emerging Asia.

“In China and the rest of developing and emerging Asia, affordable housing presents the largest business opportunity, reflecting a large unmet need,” the report stated.

Meanwhile in India, risk pooling in healthcare presents the biggest opportunity, reflecting the population’s low health insurance coverage today, it said. The estimated value of US$5 trillion is conservative, BSDC said in its press release. “Additional value could be released from other sectors, including information communication technologies (ICT), education and consumer goods,” it said.

Meanwhile, investors are starting to take note of sustainability-themed investments, adding that such investments have grown 14.6 per cent on a compounded annualised basis from 2012 to 2016 to US$23 trillion.

“Many of these opportunities will be in Asia. Last year, China was the top issuer of climate bonds, amounting to US$246 billion, or 36 per cent of the world’s issuances,” Mr Lim said.

The BSDC was launched at the World Economic Forum in Davos in January last year.

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