Communicating sustainability in energy transition: Just tell it like it is

One of the most complex challenges in communications today comes at the nexus of managing energy transition and economic growth, especially in new and emerging markets.  Sustainability is not just about the action you take – it’s about how that action is communicated. Our research highlights four key principles for effective sustainability messaging in this highly scrutinised area:

Authenticity is everything – Companies must ensure their sustainability initiatives are real, measurable, and accurately represented. Greenwashing – or even the perception of it – can be damaging. Real authenticity is sharing progress and also areas lagging behind.

Clarity builds trust – Sustainability reports, announcements, and campaigns must be transparent, straightforward, and backed by data. Ambiguity erodes credibility.

The industry is under a spotlight – Investors, regulators, activists, and consumers are actively scrutinising corporate messaging, looking for inconsistencies between promises and action. Communications teams must stay vigilant and proactive.

Collaboration tells a stronger story – Major players are strengthening their sustainability narratives by forming alliances with technology companies and governments. Strategic partnerships show a commitment to real, long-term impact.

For companies in this space, effective communication is just as critical as sustainability itself.  It pays to follow two simple rules: Do what you say you are going to do. And, tell it like it is.  With this approach we are helping clients create narratives that resonate, stand up to scrutiny, reinforce their credibility and build long-lasting trust in an increasingly sceptical world.

Indonesia and Australia obvious bedfellows – so why are we all so late to the party?

In life, there is always a reason not to do something, and Australian businesses and investors seem to have too often found those reasons not to invest in Indonesia.

A good game has been talked over the years, including at conferences like the Indonesia Australia Business Council (IABC) event in Jakarta on Wednesday and Thursday this week (8-9 November), where leading government, business and academic figures from both countries will participate.

Yet in 2023, we’re yet to realize the potential of our bilateral relationship. 

In early September, the Australian Government launched a significant report – Invested: Australia’s Southeast Asia Economic Strategy to 2040, by Nicholas Moore AO, Australia’s Special Envoy for Southeast Asia.

It is a substantial document in every sense, and without doubt its themes will underpin aspects of the thinking at this week’s conference. The report identifies that Indonesia will be one of the world’s largest economies by 2040 – just 17 short years away. It assesses that Indonesia may attain top-10 economy status in the next decade and top five by 2040. 

With two-way trade of AUD $23.3 billion and investment back and forth at AUD $3.9 billion last year, the Indonesia-Australia relationship is substantial by any measure, but proportionately, it falls short of some of our other bilateral relationships – notably in terms of Australian investment in Indonesia.

Asia will grow by a further 250 million people by 2030. That’s about nine and a half Australia's. Food demand in Southeast Asia will rise by 40% by 2050.

So, if we back-of-the-envelope this and put those frameworks across the areas that the Australian report identifies as “sectors to watch” in the Indonesia-Australia relationship – agriculture and food, green energy transition, education and skills, and healthcare – we quickly get to some serious numbers in terms of trade and investment potential.

Then put this exponential population growth into future sustainable energy requirements, expected physical and digital infrastructure needs, and you will quickly find that you need a bigger envelope.

The Moore report identifies obstacles that need shifting, and among these are encouraging bilateral recognition of qualifications in each direction, establishing better halal mechanisms on the Australian producer side, and progressing a memorandum of understanding on creative economy collaboration.

All important and all true. But there are other factors: A reality is that Australians don’t always feel their investments are secure in Indonesian systems. Security is a fundamental expectation. A step in that direction will surely be successful national elections here in Indonesia next February.

Another factor is less systemic and more relational. A 2016 Australia-Indonesia Centre survey found that over 57% of Australians – including its future business leaders – did not feel any warmth or trust towards Indonesians. One suspects that little has changed in the seven years since.

Indeed, as recently as July this year that was confirmed by Australia’s prestigious Lowy Institute, with 19 years of polling under its belt that has consistently shown a lukewarm relationship. It’s 2023 poll findings placed Australian warmth towards Indonesia ahead of only Myanmar, China and Russia. Let’s just say, there’s work to be done.

Neighbors we might be, but perhaps we default too easily to old myths, preconceptions and tensions on both sides. 

If this week’s conference can take us a step or two forward in unpacking, dismantling and moving on from some of these to a more-informed relationship, it will be no mere ‘talk-fest’.

There is also shiny object syndrome: Australia – and, let’s be honest, the rest of the world – has more focus, intent and energy directed at the global giants, China and India. But as the report notes, Indonesia is fast heading to that top table, gearing towards being the top five economy in the world by 2045. So, to overlook it is to miss a large and growing opportunity.

The Moore report notes another task in our relationship: “Explore opportunities to assist with environmental, social and governance standards and reporting in the resources sector.”

I imagine this is on cut and paste – no relationship has a future without it.

In the recent words of a colleague in our Singapore office: “In this space, navigating highly nuanced social, ethical and regulatory matters, staying ahead of issues, building support from all stakeholders and maintaining a strong social licence to operate is business critical.”

For “in this space”, read “in any space”. Indonesia, Australia, anywhere. 

Business will not succeed without social licence to operate; without protecting its social capital. This applies to Indonesian businesses coming into Australia, and to Australian business wanting a presence on our shores.

And environmental, social and governance standards – ESG – is one of the complex realities of doing business today in a connected and inquisitive media landscape. 

Now, try to do it in a different culture, with different languages, different thinking and different politics. Then throw in social media, where news, fact-based and otherwise, spreads like the proverbial wildfire, and reputational damage is a headline away.

Communicating with customers during natural disasters

In Southeast Asia, natural disasters are not rare interruptions – they’re part of the operating environment. Whether it’s floods, typhoons, or earthquakes, these events disrupt infrastructure, displace communities, and heighten the need for clear, timely, and human communication.

In moments like these, customers aren’t looking for polish – they’re looking for reassurance. They want to know what’s happening, what help is available, and that they haven’t been forgotten.

What effective crisis communication looks like:

Preparation is essential. The most effective responses don’t start when the crisis hits. They’re grounded in clear protocols, pre-approved messages, and teams that know their roles.

Messages need to be simple and empathetic. Stress affects how people process information. Clear, jargon-free updates delivered in a calm and human tone help cut through confusion.

Safety and Care are always the two most important messages – are people safe? How are you ensuring safety?  How are you caring for those impacted? Where can they get help?

Channels must be flexible. Power and internet outages are common. A good communication strategy blends digital platforms with SMS, radio, printed notices, and community partnerships to ensure messages get through.

Recovery matters too. After the immediate danger has passed, follow-up communication helps restore confidence. Sharing practical information and showing how you’re supporting recovery can deepen trust.

In disaster-prone regions, communication planning can’t be a nice-to-have. It must be part of core operations, embedded across teams – from customer service and digital to HR and frontline field staff.

The most resilient organisations are not those with the flashiest tools or the biggest budgets. They are the ones that take the time to understand how people experience crisis, and how communication can be used to help – not just to inform, but to support, guide, and connect.

We’ve seen that when communication is done well, it becomes more than an update. In a crisis, what you say – and how you say it – can make all the difference.

Why brands should stay committed to clear communication

More companies are scaling back their climate change commitments at a time when the new Trump administration is withdrawing from the Paris agreement and casting doubt on ESG requirements and sustainability commitments – as well as issued Executive Orders to increase coal-fired power and oil exploration. In March, the FT reported that more than 200 US companies had removed DEI initiatives from their annual reports. This has drawn criticism from activists who believe that companies are following political trends rather than sticking to principles. While some businesses have taken the opportunity to realign their commitments, citing a variety of reasons – ranging from initially setting over ambitious targets to increased shareholder pressure driven by lower returns – many have failed to communicate their positions.

This has led to very public misunderstandings, jumped on by both anti-ESG campaigners, who claim another victory in their quest, and climate activists, who rally against companies for dropping commitments.

It is important to communicate openly and transparently as groups on opposing sides of the argument are quick to spin soundbites for their own gain. So, how can a brand navigate complex issues like ESG, while staying clear and transparent?

Are institutions becoming afraid of the Trump-quake?

Financial institutions’ commitments to environmental goals appeared to take a step back in January when Blackrock followed the six largest US banks by pulling out of net zero industry coalition groups, raising concerns that more companies are scaling back their climate change commitments.

The departures from the Net Zero Asset Managers initiative (NZAM), an environmentally focused investor group, and the Net Zero Banking Alliance (NZBA), a UN-backed collective of global banks, have been attributed to the new Trump presidency and pressure from Republican politicians, but closer analysis paints a different picture.

Rather than pulling back from climate commitments, Blackrock told clients that its sustainable-investment efforts are "driven by the needs of our clients and our continued investment conviction that the energy transition is a mega force shaping economies and markets", adding that its portfolio managers "continue to assess material climate-related risks". However, it did cite confusion over its membership and subsequent legal inquiries from public officials as a reason for its departure. NZAM has since committed to reviewing its activities due to “recent developments in the US and different regulatory and client expectations in investors’ respective jurisdictions”.

In January JP Morgan joined Morgan Stanley, Bank of America, Citigroup, Wells Fargo and Goldman Sachs in withdrawing from NZBA. While climate groups suggested this was due to pressure from the new US government the decisions seem to be due to dissatisfaction with the organization rather than waning climate commitments. All six banks restated their commitment to sustainability goals, including reaching net zero by 2050.

The announcement’s timing attracted media attention and the ire of climate activists who have blamed the moves on anti-ESG sentiment among US Republicans, with Reclaim Finance saying “US financial institutions have faced threats from right-wing politicians and pundits over the past couple of years for their membership of net zero alliances”.

The anti-ESG narrative has been reinforced by companies across the corporate world rolling back their commitments over the last 18 months, largely due to being unable to meet ambitious pledges: Shell and BP said rising oil prices were the reason for reducing their commitments to lower carbon emissions; Coca-Cola and Nestle deferred on reducing virgin plastic use after failing to meet previous targets; and Crocs postponed its net zero carbon emissions targets from 2030 to 2040.

Attention grabbing headlines can give the impression there is a full-scale weakening of commitments, but they can obscure the nuanced changes companies are making. Many are simply reducing targets, extending deadlines, or scaling back pledges rather than abandoning ESG goals completely, but some media and opposing activist groups have used these changes to support their own agenda.

ESG retains its potency, but it is a longer play

This means that ESG is still a potent force. Some business leaders believe the realignment of climate priorities is a transitional phase and new sustainability goals will be integrated more deeply “into business operations, product development and marketing” and focused on delivering sustainability performance as opposed to making unrealistic pledges.

ESG is just one part of a solution to a high-complexity problem. There are no “easy wins” or “low hanging fruit” here. But the current media landscape does not process complexity at all. When a brand shifts on its commitments, it dances on a razors edge. This is why clarity is key. You can pivot or change plans, especially in the face of complexity. But your message must retain its clarity and commitment to purpose. Otherwise, groups on either side of an argument can throw you into a very public minefield.

How your brand can pivot while maintaining clarity and purpose

Don’t become part of someone else’s agenda – the current culture war around issues such as net zero, ESG and DEI show how easy it is for business decisions to be (intentionally or otherwise) co-opted by activists and pundits to build a narrative that suits their agenda – be vigilant to such risks when making and communicating decisions and strategies.

Be open and transparent about any changes – communicate the reasons for any change so people are clear on what is happening and why. This means changes are less likely to be misinterpreted or miscommunicated. Clearly explaining the rationale behind any changes will help maintain stakeholder confidence and help them understand your revised strategy.

Show real achievements to build trust – commitments should be backed up by actions. Address this through evidence-based communications that substantiate any claims or initiatives.

Be authentic and share good news and bad – don’t only share positive developments, let stakeholders know which areas or goals are harder to reach and provide a clear course of action that you are taking to address this.

Many companies have recently dialed back ESG initiatives. We tell you why brands should always speak clearly or risk becoming part of someone else’s agenda

Why brands should stay committed to clear communication when dialing back ESG commitments

If you are not paying for the AI products you use, you are the product

For strategic communication advisors, it is essential to adopt tools that increase efficiency, save time, and ultimately clients' money, but as a workforce often trusted with client information, there's also an obligation to move with caution, and remember there's no such thing as a free lunch – or a free AI tool.

There is a tenet that applies to all new technology: if you aren’t paying for the product, you are the product.

It took a while for users to grasp this with social media, but eventually they realised they paid for free platforms like Facebook and Instagram with their data, which the tech giants used to sell targeted advertising and make billions. 

AI tools are no different, and users risk paying with not just their data, but also their skillsets, and possibly even their secrets. The nature of many generative AI tools and large language models (like ChatGPT and Google Bard) mean every interaction is a learning opportunity for the base model, and every back-and-forth with a chatbot is potentially another lesson taught.  

Strategic communication advisors need to be particularly wary, not only because they might be training their replacement, but because they could accidentally divulge clients’ confidential information. Take a scenario: a consultant working up material for a carmaker’s new electric vehicle. The consultant might use an AI to streamline their research and compare the range of the new car to competitors’ vehicles. The consultant might then use the AI to draft promotional material. They might ask the AI to tweak the copy, bring a statement higher, or phrase it in a more casual tone. In one swoop, that consultant might have educated the AI about what features are most important in selling a car, how to write a good press release, and divulged sensitive information about the new car’s range capabilities. 

Those learnings may not be incorporated into the model immediately, however as OpenAI states: “Your conversations may be reviewed by our AI trainers to improve our systems". Users can toggle their settings to stop conversations being used in this way, but how many people do is questionable. Add that to the black-box  nature of these AI systems, and there may be cause for concern.  

Some big players are already thinking this way. PwC banned employees from sharing firm or client data with ChatGPT in February, partly due to accuracy concerns over the content being produced, but also because of unresolved “intellectual property, security and privacy issues”. Amazon urged employees not to input any confidential information or code into the chatbot. 

When I was a journalist, I interviewed some of Salesforce’s top executives in San Franscisco as the software giant unveiled a host of their own AI tools, and I put this exact carmaker scenario to them. The same word kept cropping up in their responses – “siloed”. If you paid for a Salesforce AI, I was repeatedly assured, the content, learning, and insights were retained. They were not shared with the wider model, or used to train it, reducing the risk of a competitor benefitting from the lessons the user imparted.  

So it might be worth considering paying for the AI products used. This also insulates against another rude awakening coming down the line – bill shock. This has happened before with cloud provides. Many businesses were hooked by free or cheap data storage, and then got a nasty surprise when prices went up, or they received unexpected bills for additional space or tools. This left a bitter aftertaste and an unexpected expense on the balance sheets, and a similar situation is likely to play out with AI tools.

Right now in the tech world, it's all about being first, and gobbling up market share, and that's why so much is being given away for free. That won't last forever. In the long run, it may be best to know the price-of-use now, rather than finding out the true cost of using these "free" AIs later.

At Baldwin Boyle Group we are developing policies that enable us to harness the benefits of AI for us and our clients while also protecting intellectual property, confidentiality and workers’ dignity. Our business is based on rigorous analysis, insight, intellect and imagination and for now, at least, these remain the domain of humans.

Taste, technology, and tradition: Creating Asia’s food future

Take massive advances in food technology, add rapid urbanisation, consumer demand for nutrition, convenience and sustainability, and you have the recipe for Asia’s agrifood story over the next decade.

In the coming years, the way food is produced, distributed and consumed in Asia will change dramatically. It’ll have to – Asia will add another 250 million people by 2030 and food demand in Southeast Asia will rise by 40% by 2050.

The UN says farming practices are unsustainable as they place too much of a burden on the world’s natural resources, and it will be crucial to find ways to feed people with less.

Combine this with rapid changes in food technology, a generation of consumers whose lifestyles and food preferences will be vastly different from their parents, and a growing awareness of health and wellbeing, and the stage is set for an unprecedented agrifood transformation.

By 2033 we will be eating entirely new categories of food, we will know where the food was grown and the farmer who grew it at the touch of a button, our food will be better for us, and formulated to address our health issues and elevate our wellbeing.

The fresh vegetables on our plate might have been grown in a vertical garden in an inner-city skyscraper rather than in a field in the countryside, and our steak might have come from a 3D printer rather than an animal.

We may send our children off to school with energy bars made from insect larvae or, when they get home, cook them a snack of chicken tenders made from fungi.

Asia is urbanizing faster than any other region globally. Households will be smaller, consumers more educated, better travelled and have very selective tastes. People will expect a wide variety of fresh food available almost everywhere 24/7 to cater for their busy lives and flexible schedules.

To meet the demand, the entire food supply chain – from farm to fork – will be digitised. An app on their phone will tell farmers when to plant, what to plant, when to harvest and how much fertilizer to use. Produce will make its way from the countryside to the city with unprecedented efficiency and arrive in peak condition.

There will be no guesswork, much less waste and if a Big City resident wants to buy a fresh artichoke at 2 am on a Sunday, it’ll be there for them.

By 2033, we will not only be eating different food, but we will be thinking differently about food. As well as taste, price and convenience, we will be more aware of the environmental impact of our food consumption, and the ethical and social aspects of how food arrives at our plate.

To meet these expectations, food producers will incorporate sustainable sourcing, eco-friendly packaging, and waste reduction practices into their products to reduce the burden on the environment. An entire new economy will develop around giving new life to food waste and packaging.

How can I say with such certainty that this will happen? We have some amazing agrifood clients who are already imagining and creating Asia’s food future. 

They’re people who not only understand the pressures that are coming to bear on how we produce food, the changing demographics and preferences of Asian consumers, and how to feed millions more people while using less land, nutrients and water, but something just as important.

They understand that in Asia, food is life. It is central to the many cultures that make up the region, it brings people together, creates bonds, and makes our festivals and special occasions truly memorable.

Creating a new food reality, while respecting the taste and traditions that people have enjoyed for generations, takes incredible skills, foresight and understanding.

In this space, navigating highly nuanced social, ethical and regulatory matters, staying ahead of issues, building support from all stakeholders and maintaining a strong social license to operate is business critical. 

We feel privileged to join them in their kitchen of innovation and ideas and help them create Asia’s food future of tomorrow.

Today, companies need to work harder than ever to gain public trust and fulfil their commitments to disparate stakeholders. Amid a business environment reshaped by Covid and rife with emerging issues including increased media scrutiny, cultural sensitivities, generational power shifts, stakeholder activism and a disengaged workforce, companies must not only define what they do, but why they do it.

With this in mind we are excited to introduce Social Capital Matters, a new podcast from Baldwin Boyle Group that explores social capital, the network of relationships between businesses, stakeholders and customers, and how they work in today’s complex business environment. 

Over the course of six episodes in season one, host Kylie Taylor, Group Managing Director Baldwin Boyle Group, talks to respected business leaders and advisors in a wide variety of industries to get their insights into successfully managing a restless workforce, the changing preferences of switched-on customers, and the dynamic demands of stakeholders large and small.

From in-depth analysis of cultural trends and purpose-driven problem solving, to the importance of supply chain transparency and insights into the complex media landscape, Social Capital Matters takes an inquisitive and wide-ranging look at the strategies that have allowed business leaders to inspire their stakeholders and build a framework for long-term success.

Listen to all six episodes on our website www.baldwinboyle.com/podcasts, or wherever you find your podcasts. 

1.	Asia is redefining old concepts of East & West, left & right | David Black

2.	Selective transparency won’t fool the media | Sharanjit Leyl

3.	Ignoring sustainability is no longer an option | Dr Darian McBain

4.	Employees are calling the shots as workplace power shifts | Sue Stoneman

5.	Purpose is about solving real problems | Christian Ihre

6.	Cultural literacy is key to success in the age of distrust | Melissa O’Neill

It’s the Turbulent Twenties. I think we can all acknowledge that. Layoffs are happening left, right, and centre across the globe and here in New Zealand too. Tech and media, unfortunately, are always the harbingers and that’s what we’re seeing now – from Google to Today FM – job cuts are everywhere. 

I've been here twice before in my 15-year career, first a year out of university when the Global Financial Crisis began in 2008, and again at the start of the Covid era. I’ve lost contracts and felt discarded, but had to remain poised and grateful for the bits of work I could hold on to.

It’s tough accepting the crumbs when you know you deserve the whole meal, but as we’re continually led to believe in the media world, with any “cool” or “desirable” creative job there’s always somebody up-and-coming willing to work for half the price. Or even for free. 

This is the nature of 21st Century media. Journalists, writers, contributors… the people who create the content an audience actually wants to consume (and pay for via paywalls) are often the first to lose out during any economic recession. 

Where has this led us as a nation in terms of our communal media appetite? Declining trust in media, according to Trust in News in Aotearoa NZ survey of 1,120 people by AUT's Centre for Journalism, Media and Democracy. When journalism jobs are first to hit the cutting block and newsrooms shrink, so does public trust in the news. 

Under-resourced and over-worked journalists can’t produce quality work. Being forced to churn out clickable content is stressful, and often results in a product you (as the producer of it) knows should be better, but you just don’t have the time to make it so. 

The mentality of “it’s good enough for online” shouldn’t be the way we run the fourth estate, but here we are. 

Back to the aforementioned survey. It found New Zealand had the highest proportion of people in the world who avoid the news, when compared to Reuters Digital News Report global surveys. “Fully 69 percent of Kiwis said they actively avoided the news – 11 percent often and 58 percent sometimes,” Newsroom reports.

Where am I going with this? Job cuts, and especially cuts to creators and producers of content, shouldn’t be the first thing media companies do when economic pressures occur. 

Layoffs should be a last step, not the first trigger you pull. Why? At the end of the day, when the economy starts going again (and it always will), you’ll want to hire most of these people back. 

And you might find they’ve given up on the stress of trying to “make it” in the media world altogether, and don’t want to return.

Four members of our Bangkok team – Chanunya, Natta, Yining, Greg J and Greg L recently completed a day's first aid training which covered emergencies such as heart attacks and cardiac arrests, how to perform CPR and use an AED, as well as how to respond to a number of other potentially life-threatening incidents, such as choking, allergic reactions, seizures, bleeding, shock, spinal injury and electric shocks, as well as fractures and dislocations. The team now feels more confident that they can help people while waiting for emergency services to arrive, whether that be at work, home or out on the street.

Our client Bangkok Bank is among more than 30 organisations that are working with Chulalongkorn University’s Environmental Research Institute to reduce waste in the Thailand capital. The project will run from 2023-2025 and it will help support a pilot project by the Bangkok city authorities to turn food waste into organic fertilizer.  The bank has launched waste sorting and plastic recycling projects as the first step along the way to creating a culture of zero waste.

We are pleased to welcome Adri Christiawan to our Jakarta office. With a decade of experience in business and lifestyle journalism and then communications consulting Adri is well placed to help our clients articulate their story, engage with the right target audiences, and build stakeholder support.

Welcome to Adri Christiawan to our Baldwin Boyle Group Jakarta office

BBG’s new parental leave policy hits the ground running in Bangkok

In a previous post we shared our new parental leave policy, which is now six months for the primary caregiver. This also applied to those already taking leave after adding a new addition to their family. We caught up with two employees who are doing just that, Sine and Yining, both in Thailand, to see how they’re doing.

Sine said, “It was so exciting to hear about the new policy – getting to spend that extra time with my new baby is worth more than anything. It was a huge gift to me as well as my family, and we’ll all benefit from it.” You see a few photos of Sine’s family below, with their new member Chopin.

There have been countless studies that link fully-supported parental leave with better emotional and physical health, decreased re-hospitalisation rates for mother and baby, and improved stress management. This is over and above the benefits that a company receives for taking care of new parents.

Yining said, “It was a wonderful surprise to learn of BBG’s new parental leave policy that entitles primary caregiver employees to 6 months of paid leave. To be able to spend valuable time with my infant is priceless as they will never be this small again and this is time in their life I’ll never get back. I am grateful to BBG for recognising and supporting the needs of new parents.”

Navigating the waves of Indonesia's financial trends

Indonesia’s financial services landscape is evolving rapidly, with technological advances and regional integration driving the development of innovative new products and service that could unpack the opportunities and challenges for businesses operating in these markets.

There is indeed no one-size-fits-all answer to what the future of finance in Indonesia will look like. However, we can expect four key trends and developments to watch for. Understanding them is essential for any company looking to tap into the market. Indonesia is now considered one of the world’s most rapidly growing economies, which presents a vast opportunity for financial services providers.

Indonesia is now considered one of the world’s most rapidly growing economies, which presents a vast opportunity for financial services providers.

First is the certain rise of digital banking and continued growth of e-commerce and mobile payments. These provide customers with greater convenience and more choices in how they access and use financial services.

Bank Indonesia reported that the total number of QRIS users in Indonesia reached 30 million in November 2022, and the figure is expected to increase to 45 million by 2023.

Financial services are being driven by growing demand for digital solutions among consumers and businesses alike. It has been transforming the way people make payments and manage their finances, as they offer a fast and convenient way to pay for goods and services.

Financial services are being driven by growing demand for digital solutions among consumers and businesses alike. 

Second is the emergence of green finance initiatives, now that environment, social and governance (ESG) has become the talk of the world. The Financial Services Authority (OJK) recently issued its green taxonomy guideline in support of the country’s sustainable finance program, and to ensure that all financial players and stakeholders are using common vocabulary regarding sustainable finance. This follows similar moves in China, South Korea, Japan and Malaysia.

Third, geopolitical tensions have been impacting the region’s financial markets. Rising commodity prices resulting from the conflict between Russia and Ukraine threaten to hinder Southeast Asian countries’ recovery from the pandemic, which can in turn heighten the risk of political and economic instability, including in Indonesia.

The nature and impact of the tensions between China and United States is also a concern for Indonesia, its partners and stakeholders. The sour relations among the giants Indonesia deals with, between China and India or between China, Japan and South Korea, will also increase risks.

With Indonesia strengthening regulations to promote financial inclusion and stability. These include imposing stricter capital requirements on banks and safeguarding the general public’s funds in insurance, which are now guaranteed

Fourth is the evolving regulatory landscape, with Indonesia strengthening regulations to promote financial inclusion and stability. These include imposing stricter capital requirements on banks and safeguarding the general public’s funds in insurance, which are now guaranteed. These moves are aimed, however, at protecting investors and promoting confidence in the market.

Current developments have a number of potential impacts on the future of finance in Indonesia. One is the increasing integration of financial markets in Southeast Asia. Two countries’ central banks, Bank Indonesia and the Bank of Thailand, recently announced an agreement to implement cross-border QR payment linkage. It has been reported that 76 payment system providers from the two countries have joined the project. This is likely to lead to more competition and higher standards in the financial services industry

Another impact is the rise of digital banking and mobile payments. This is making it easier for customers to access banking services and make payments, which could lead to a decline in traditional banking services.

Finally, the growth of alternative financing options, such as peer-to-peer lending and crowdfunding, is providing new opportunities for businesses to access funding.

It is essential for businesses to adapt to stay ahead of the competition in a constantly changing business environment. Banks and financial institutions (companies) need to regularly review their business models, operating environments and strategies to keep up with current market trends and to make sure their business is as successful as possible. It is important for businesses to be open to new ideas, as this can help them keep up with the ever-changing market.

The second step is to invest in technology and innovation. By investing in new technologies and ideas, companies can stay ahead of the competition and stay competitive in an ever-changing market. It will help companies face globalized competition, rapidly changing customer needs and technological shifts.

Furthermore, it is essential for businesses to focus on customer needs and experience. Companies should strive to be customer-centric, analyzing customer feedback and providing tailored solutions to meet customer needs. By putting customers first and understanding their needs, companies can ensure they are providing the best possible product or service and staying one step ahead of the competition.

Lastly, having a team of experts can help businesses stay ahead of the competition. Companies should focus on building a strong team of professionals with expertise relevant to their areas of business. This could involve hiring experienced professionals or training and upskilling existing staff. An experienced team of professionals can provide valuable insights and strategies so companies have the best team possible to stay ahead of the competition.

The future of finance in Indonesia is an exciting one that promises increased opportunities for businesses and investors alike. With the emergence of new technologies, innovation and financial inclusion initiatives, there are more avenues than ever before to access capital and take advantage of booming markets.

Singapore, Hong Kong and Shanghai continue to make strides in modernizing their financial services industries, involving both traditional banking institutions as well as fintech start-ups. While Seoul is more determined than ever to keep to its road map and catch the eyes of investors and institutions leaving Hong Kong, Tokyo remains attractive to the finance industry to do business as it continues to develop as an international city bringing together people, information and money from around the world.

In Southeast Asia, having maintained political stability, Indonesia is emerging as a confident middle-income country and a promising destination for investment.

As the country continues to drive its financial transformation through thoughtful regulations and partnerships between public and private entities, many predict a bright future ahead for those looking to invest or to do business on a larger scale. For companies, it is paramount to ensure that they are positioned well to handle the ever-changing market and stay ahead of the competition.

This article was originally published in the Jakarta Post.

We recently teamed up with our client The Incubation Network, an organization that aims to prevent plastic waste from flowing into the world’s oceans, to produce a 5-episode limited podcast series titled Changing Tides on what's being done to combat the plastic waste problem. 

Drawing on a large network across the formal, informal and entrepreneurism sectors, the podcast talks to researchers, investors, community leaders and corporate organisers to learn what they're doing to combat plastic waste on various fronts. Hosted by Titus Loh and Laura Benns - both of whom work for The Incubation Network - the podcast is an exciting look into the various battles that are being fought to build networks and reduce pollution, from small villages to large conglomerates and everywhere in between.

To listen, watch or learn more about the podcast, click here.

Our client Bangkok Bank recently teased appetites to tap into the youth market.

As Thai banks battle for a share of the all-important youth market, Bangkok Bank came up with an innovative approach. It invited budding YouTubers to create a short video clip under the theme “Favourite Dish”. 

The competition attracted 300 teams and 50 were selected to join an intensive “Little Director” online course taught by five well-known Thai directors. All these finalists were invited to create a short film under the ”Favourite Dishes” theme. In addition to encouraging aspiring YouTubers to practice their skills, the campaign also supported the local economy – helping restaurants and travel businesses to gain much needed exposure – as the economy recovers from the Covid-19 outbreak.

All winning short films are available for viewing here.

As the pandemic transforms the way we live and work, more employees across Asia Pacific are saying they are no longer satisfied with the bare minimum from their employers. 

Only 36% of employees say their employer supports workers with their well-being, despite workers increasingly valuing things such as a sense of fulfilment and meaning, according to a recent survey by PwC which polled nearly 18,000 employees across the region. 

How can companies navigate this increasingly complex landscape? The answer is to communicate with purpose. Businesses should let their workers know what they stand for, and how they can align the company mission to societal goals. They need to also engender trust by taking a clear stance on issues such as health and safety, diversity and inclusion, and ESG.

Read more here: PWC Asia Pacific workforce survey

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A warm welcome to Shreya Varadarajan, who has joined our Singapore team as an Account Executive. Shreya recently graduated from the National University of Singapore with a Bachelor of Social Science in Communications and Media and was part of the University’s prestigious Scholars Programme. We are looking forward to being part of Shreya’s journey into the world of strategic communication.

Introducing Shreya Varadarajan

A warm welcome to Piyachat Nambundid, who has joined our Thailand team as a Media and Influencer Strategist. Piyachat has a deep understanding of media related affairs, brand campaigns and event management. She is experienced across many industries such as technology, trade and finance, and boasts strong interpersonal skills. We are looking forward to being part of Piyachat’s journey into the world of media affairs, corporate communications as well as social capital.

Introducing Piyachat

Welcoming the Year of the Rabbit - Chinese New Year

As our teams across our offices celebrate Chinese New Year with their families, we thought we would take a moment to reflect on the deeper meanings behind the many colours, flavours and dishes of the traditional celebrations.

We asked our team to explain some of the more well-known symbols.

Kumquat (金橘- Jīn jú) “Jīn” means gold, while the 橘-jú sounds like 吉-Jí which means “lucky”. During Chinese New Year, many families will decorate their house with a kumquat plant – because the kumquat symbolizes wealth and good luck.

Sweet rice cake (年糕- Nián gāo) is delicacy that is mostly served during this festivity. It symbolizes progress, advancement, and growth. Nián (年) means “year,” and “gāo” (糕) is a homonym for “gāo” (高), which means, “tall,” “high,” or “expensive”. This delicacy, of which is usually gifted to the family and friends symbolizes getting promoted or raising oneself to a higher level in the year ahead.

Fish (鱼-Yú). Eating a whole fish for Chinese New Year dinner is one of the most popular customs. Serving fish as part of the meal is a way to extend greetings of 年年有餘- Nián nián yǒu  yú. The fish should be the final dish served at the celebration dinner, and any leftovers should be saved for the first supper of the new year. This is symbolic to “having surplus year after year”.

Whether you are adorning your place in kumquats, sharing sweet rice cakes with friends, or tossing fish as high as you can, we wish you a happy new year, good luck and a prosperous year – "Xīnnián kuàilè" (新年快乐) to one and all!

We’re delighted to announce the appointment of Stefan Herrick as our Group Content Strategist based out of our Singapore office. Stefan brings to BBG a vast amount of experience. He has worked at the highest levels in politics and business, advising sector leaders on strategy, managing crisis, business transformation and how to best position themselves in the eyes of regulators, investors, media and the public. As a former award-winning journalist, Stefan will focus on helping clients create narratives that capture attention, deliver insights and truly set them apart.

We delivered some good news today to the new parents at BBG. We have announced today that we are extending parental leave to six months fully paid leave for the primary carer, with all benefits maintained, available to all employees who become new parents through childbirth, surrogacy or adoption. Plus we are applying the new policy to our employees currently at home with their new babies.

We believe this is an important move towards greater equality and inclusion. It’s good for women, good for men and good for families. The first few months after welcoming a new child can be a challenging time for parents, and we want to support our employees during this important time. With this new policy, our aim is to offer our employees the flexibility and time they need to bond with their new child and take care of their family.

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To nomad or not to nomad – is it even a question anymore?

The global pandemic taught us all to work differently. We achieved things working remotely that we never thought possible. At the same time, as more remote and flexi arrangements become the norm, the collective fear that we will forever lose the productivity and people development that comes from an office-based work culture is palpable. Are we denying young people the opportunity to learn by osmosis in the hustle and bustle of a busy office if we all stay at home in track pants?

This is one of the key issues vexing senior leaders in our industry and across all sectors.

Vast stretches of empty office cubicles, closed down cafes and emptied out cities are no longer just the stuff of apocalyptic movies. They remind us that so long as there is stable internet you can work from anywhere. This is of course not a new phenomenon. People have been experimenting with all forms of remote work for years – but the limits of technology and accepted work norms generally made it a part-time novelty to spend some time at home, or working from a cafe, library or holiday house. But the pandemic pushed us over that cliff, and we all became Digital Nomads of some sort.

It's an official term in the Merriam-Webster: a Digital Nomad is someone who performs their occupation entirely over the internet while traveling. The name itself, like the Grey Nomads that came before, suggests an even greater sense of freedom and wanderlust. At its extreme, its relocating to beautiful remote places being freed from the need to be in an office. It can even be a “no fixed address” life as digital nomads in camper vans hold down a full-time job. And it’s not just something for gig economy workers or freelancers – plenty of people have discovered they can do their corporate job from a villa in Ubud.

Now we also have the ‘Corporate Nomad’. According to Harvard Business Review in ‘The Rise of The Corporate Nomad’, this group of people maintain full-time employment with an organisation but without the traditional limits on mobility and place, they get to work across different geographies, teams, cultures and different  work assignments from where they are – without having to leave and find a new job. So, this new flexibility may be a way to keep people as they nomad through an organisation.

And this is not just for the Gen Zs. There is great appeal for the 30-50 year-olds who may have thought the constraints on place due to family or other commitments would rule them out of putting their hand up for new opportunities – now they can zoom in and be part of a team on a new assignment on the other side of the world, bearing some time zone issues.

However, not everyone is convinced that “nomading” is the way to go. Research by the European Conference on Information Systems (ECIS) conducted in 2019 and published by the Association for Information Systems, found that being present in a conventional corporate ‘work-at-office’ culture is key to understanding a certain situation for what it actually is. Factors such as body language, eye contact, and sensing the atmosphere were all vital cues lost over the fibre cable. It also cited time zones, unstable network, and different choices of communication tools as other barriers to effectiveness. 

Whatever way you look at it, the nomads are here to stay. The challenge will be to navigate this new normal and find the balance between flexibility, opportunity and human connection so that everyone can grow, develop and flourish.

We are making sure that there are set days that everyone comes together, encouraging teams to get together for their own work meetings, making sure we are seeing clients face-to-face, and creating opportunities for social interactions. It’s a start.

Build wealth for the country's future generation

In December 2022, Indonesia Investment Authority (INA) held its first public engagement with Lembaga Pengelola Dana Pendidikan (LPDP) alumni to share what INA has been doing to “Build Wealth for the Country’s Future Generation”.

The event was an opportunity to introduce INA to the wider audience and explain their focus and goals. 

Kudos for our Indonesia team that helped to make it happen.

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Today marks a special milestone in Baldwin Boyle Group’s history. 

On August 10, 30 years ago, our Group Managing Director, Kylie Taylor joined our firm as an Intermediate Consultant in our Singapore office. She made her mark in a comparatively short period of time. I can remember working out of the Singapore office at that time and observing a first-class contribution from her at an internal strategy planning session.

It was her intellect, her analysis of the issues we were striving to address and her critical approach to finding the right solution that was going to make a real difference. She was outspoken even then about “window dressing”.  It was clear to me as the founder of the firm that Kylie was one to watch.

Some 18 months later we had a significant new business opportunity, based in Tokyo, leading a stakeholder strategy across 14 countries in the Asia Pacific Region. My instinct was to give her that opportunity and I still marvel at how that investment has paid off. 

Subsequently Kylie has worked across all our offices and today is the strategic sounding board for all our country Managing Directors. She is across all regional strategies and makes insightful contributions on the majority of our clients. Our senior people know where to go if they need a frank review of their thinking. 

But I think it is her ability to balance her idealism with hard-nosed commerciality that we all enjoy most. Combine that with the qualities I have outlined, and you see a consummate professional. Today, Kylie is the same as the first day I met her, unqualified in her commitment to our people and making a lasting and meaningful difference for any company that seeks our counsel.

Today marks a special milestone in Baldwin Boyle Group’s history.