RENITA SOPHIA CRASTA
Wise committee member and legal counsel at Surbana Jurong
Taking on the behemoth that is climate change requires a collaborative and conscious effort. “As humans, we’re so intertwined. Oftentimes, we categorise ourselves as private, public or community sectors, or even as individuals, companies or countries. But in the larger scheme of things, I think the ESG proposition forces us to realise that we’re all in this together,” says Renita Sophia Crasta, legal counsel at Surbana Jurong. “Collaboration is a big part of climate action, as is being conscious about it and living more purposefully.”
Watching world leaders discuss significant environmental challenges at COP26, and noting many of her friends and colleagues also taking an interest, she feels like climate change as an issue is finally “starting to take root or be in the consciousness of everyday citizens, who now realise that it affects all of us and that we each have a responsibility towards the issue and each other. People are not just taking an interest, but also thinking about what it means for themselves, their companies, their professions.”
Indeed this is true for the women behind Wise, which seeks to foster greater green participation, inclusiveness and visibility of women involved in the sustainability space, whether as consumers, investors or professionals. This is aligned with a key thrust of the Singapore Green Plan 2030 to mobilise and empower the public, private and people sectors to secure a sustainable future.
On what she hopes Wise can do, Crasta says, “Many people might not know what sustainability really entails. Wise provides a forum for us to share the knowledge, break it down so that people understand, as well as introduce the technologies and ideas out there.”
As a board member of the Singapore Corporate Counsel Association and co‑chair of its Younger Lawyers chapter, Crasta is also keen to see how Wise may dovetail with the sustainability learnings that legal counsels are currently onboarding to enable them to better assist with their work across companies. “Professionals have a key part to play in the [sustainability] landscape, as we will likely be the ones who will have to break down and make understandable the various changes to be made and enforced over time.’’
The built environment industry is fundamental in the shift towards net zero. As a global urban, infrastructure and managed services consulting firm, Surbana Jurong works with clients and partners to deliver sustainable development. It has built more than a million homes in Singapore, created master plans in more than 30 countries and developed over 100 industrial parks globally. Its projects include the National University of Singapore’s School of Design and Environment 4, the country’s first new‑build net‑zero energy building.
“Surbana Jurong is unique in that it’s not just about what the company itself is doing, but how it’s helping other companies in the industry,” says Crasta. “How do we slowly shift mindsets to bring about change? I think only when we make it translatable as to what needs to be done, what it really entails, then we can move there.”
In February last year, the group launched Southeast Asia’s first public sustainability‑linked bond, which was more than six times oversubscribed. “The fact that it was so well received reflects the confidence of investors and showed a clear signal that investors are ready to support the push for greening our industries,” she says. The proceeds will fund future growth, refinance existing credit lines and provide working capital. They will also be used to translate the United Nations SDGS into concrete, measurable actions.
“It doesn’t have to stop at green bonds, as there are also social impact bonds, strategically aligned corporate social responsibility initiatives and various other measures that can be taken to make clear the standards that apply for ESG,” Crasta adds. “These are just some of the many ways that corporate objectives can be aligned with our larger social purpose.”
Being part of the built environment industry, Crasta has always been aware of the larger social impacts. Outside of work, she is an active community leader who helms a ground‑up initiative for the elderly called Love Our Seniors SG, which matches isolated seniors in need in residential neighbourhoods, care homes and community hospitals to befrienders. She’s also the co‑founder of the Covid‑19 Migrant Support Coalition (CMSC), which is made up of a few smaller groups coming together to meet the needs of migrant friends affected by the pandemic.
“Interestingly, my endeavour with CMSC really showed me a much greater perspective on the building industry,” she shares. “Sometimes, as developers and managers, we’re so far removed from what might be happening further down the supply chain. But my involvement with the migrant worker community gave me an insight on the many things that can be done while still being able to benefit all stakeholders in the long run. I think it’s timely to connect the dots and bring about that change through ESG, but in a way that is rational, constructive and balanced.”
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