With growing trend of Sustainability topics, I recently have an interesting read on Sustainable Value Creation (SVC). Value Creation is defined as benefit delivered to consumers from existing capital, in short Value = Benefits − Cost (cost includes economic risk). Borrowing from this definition, SVC refers to the value creation in a sustainable way.

The subject touches SVC from the perspective of CEO in major organisations. Not surprisingly, the top ranked SVC is brand, trust, reputation and revenue growth. Thus, I feel that it will be worthwhile to apply this concept using my perspective from an end consumer.

Consumer SVC

1. Organisation must provide adequate cost-benefits analysis of Sustainability vs Non-Sustainability to consumers.
2. Organisation must give clear transparency on sustainable efforts and processes.
3. Consumers must easily recognise Green Standards for Organisation e.g. ISO 14091, Adaptation to climate change – Guidelines on vulnerability, impacts and risk assessment.
4. Consumers shall be given incentives to be Green instead of being penalized e.g. Carbon Rebates vs Carbon Taxes.

What do you think should be your SVC?

There is a hype of news in Singapore over the switch to Electric Vehicle (EV). Consumers are also encouraged to take the Public Transportation. Ironically, there is less awareness and emphasis on Green Public Transport and their Sustainability Programs.

Sustainability Checklist

1. Sustainability Program stated on Organisation website
2. Sustainability Strategy for the next 5 years.
3. Clear and public disclosure on the information of Transportation Fleet owned, be it Electric Vehicles, Hybrid, Eco Friendly or Combustion Engine Vehicles.
4. Estimated Published Carbon Footprint generated by Transportation Fleet.

Quick Rating

Using the checklist, I do a quick survey on the overall landscape of Singapore Public Transportation organisations. This is their ranking in terms of their Sustainability program.

1. ComfortDelGro
2. SMRT
3. SBS Transit

Public Transport with NO Sustainability Program on their Website

1. Tower Transit – No Sustainability Program in Singapore but present in UK
2. Go-Ahead Singapore
3. Transcab
4. Premier Taxis
5. Prime Taxi

Simple Thoughts

Out of 8 public transport operators, only 3 have clear sustainability program. Only ComfortDelGro have achieved all the items in the simple checklist. On the other hand, the rest do not have clear indicators to their sustainability program. It is obvious more should be done with Green Public Transport. This observation is also consistent with my Commentary on Singapore Budget 2021 Clean and Green Transport. While debates rages whether consumers should change to EV or not, there is a more pressing need to educate Green Public Transport on existing transport operators.

References

• Taxicabs of Singapore
• Public Buses of Singapore

There is a growing concerns over Green efforts and sustainability talk. The ozone layer have been broken and temperature are rising with pollution of Earth. Environmental issue are nothing new and run contradictory to economic growth. With current technologies, it is feasible to measure and leverage carbon tax on its footprint.

What is Carbon Footprint?

Carbon Footprint is carbon dioxide given out by the produce or process, i.e. greenhouse gas (GHG) emissions. The full definition by Wright, Kemp, and Williams states that it is

A measure of the total amount of carbon dioxide (CO₂) and methane (CH₄) emissions of a defined population, system or activity, considering all relevant sources, sinks and storage within the spatial and temporal boundary of the population, system or activity of interest. Calculated as carbon dioxide equivalent using the relevant 100-year global warming potential (GWP100).

From the definition, we saw that there is a potential dispute with the processes and interaction that emit the greenhouse gases. Moreover, the majority of the product lifecycle will give out carbon emission one way or another. The next question is how much and how to measure!

Measuring Carbon Footprint

The measurement of Carbon Footprint is under constant debate as our concern for sustainability and environment rises. The final commitment comes when countries sought to reduce carbon emissions with the introduction of carbon tax. For the first time, there is agreement on some common measurement of Carbon Footprint, namely the energy sector. Many research and papers are also done on how to measure these Carbon Footprint. You could even find free online Carbon Footprint calculator which you could try out.

Default Carbon Footprint Computation

Just like the fight for obesity, Carbon Footprint values will soon be default view like calories on food. One example is the Energy Labels to be displayed on electrical applicants in Singapore. Another effort is the introduction of Carbon Tax in Singapore, which makes the measurement and reporting of GHG emissions mandatory. I will foresee major technologies providing Carbon Footprint computation as a service as organisations seek greater visibility to sustainability. For more in-depth reading on Carbon Footprint, you could check out this book on how to reduce Carbon Footprint at a personal level, read my other articles on sustainability or look at Singapore Emission Profile for reference.