This article reflects my time as an Entrepreneur in Residence at Digital Dialogue Company Limited. I’ve been privileged to participate in the creation of an innovative business platform designed to tackle the pain points associated with fragmented carbon data analysis.

Our mission is to provide organisations with the predictive big data analytical tools they need to accurately quantify their carbon emissions, enabling stakeholders to develop effective ESG strategies for reducing their carbon footprints and transitioning towards renewable energy sources globally. 

In an era where climate change poses an existential threat, accurately tracking carbon emissions has become paramount for businesses worldwide. Organisations are striving to understand and mitigate their environmental impact, yet fragmented data analysis continues to be a significant hurdle. Recognising this pressing challenge, Digital Dialogue Company Limited is developing a robust platform to revolutionise carbon emission accounting.

Understanding the role of GHG accounting

Greenhouse Gas (GHG) accounting is a critical component of the global carbon accounting system, providing a framework for measuring and managing emissions. This process involves quantifying emissions from various sources, including direct emissions from owned or controlled sources (Scope 1), indirect emissions from the generation of purchased electricity (Scope 2), and all other indirect emissions that occur in a company’s value chain (Scope 3). Accurate GHG accounting is essential for identifying emission hotspots, setting reduction targets, and tracking progress over time.

The imperative of accurate carbon accounting

Carbon accounting is a systematic approach to measuring and managing GHG emissions. Carbon accounting—a systematic approach to quantifying carbon emissions—is essential for organisations aiming to understand and mitigate their environmental impact.

It serves as the foundation for developing effective strategies to reduce carbon footprints. It is the foundation for organisations to identify emission hotspots, set reduction targets, and monitor progress over time. Despite its importance, carbon accounting faces significant challenges:

• Data fragmentation: Emissions data often come from diverse sources and formats, leading to inconsistencies.
• Scope 3 emissions complexity: Tracking indirect emissions across supply chains is intricately daunting. According to a Sphera Scope 3 Global Survey Report 2024, 59 per cent of companies struggle with external data quality, and 43 per cent find it challenging to quantify these emissions accurately.
• Resource intensiveness: Collecting and standardising extensive data can be resource-heavy and time-consuming.

Rising emissions amid global goals

The annual Global Carbon Budget report projects that carbon dioxide emissions from fossil fuels will reach a record 37.4 billion metric tons in 2024—a 0.8 per cent increase from the previous year. When including emissions from land-use changes, total emissions are estimated to rise to 41.6 billion metric tons. This trend jeopardises global targets established by the 2015 Paris Agreement to limit global warming.

Also Read: As the demand for energy soars, climate tech is here to save the day

The role of big data and machine learning

To address the complexities of carbon accounting, integrating advanced technologies is essential:

• Big data analytics: Harnessing vast volumes of data allows for real-time, auditable emissions tracking. Big data facilitates the development of robust carbon markets, projected to save an estimated US$250 billion annually by 2030 in climate action implementation.
• Machine learning algorithms: These tools can identify patterns and drivers of carbon emissions, processing factors like economic activities, policy interventions, and external influences. For instance, machine learning models have outperformed traditional methods in predicting emissions in 254 Chinese cities from 2011 to 2020 (Scientific Reports volume 14, Article number: 23609).

This synergy between big data and machine learning enhances the precision and reliability of emissions data, contributing to more effective climate change mitigation strategies. The effectiveness of green finance hinges on high-quality emissions data. Accurate carbon accounting is crucial for building stakeholder trust and attracting green investments with best practices in reporting standards.

Green finance: Catalysing sustainable transition

Green finance plays a pivotal role in advancing renewable energy projects by providing essential funding mechanisms:

• Green bonds: Effective in financing large-scale renewable projects in emerging markets, green bonds reduce reliance on fossil fuels. In E7 countries, these bonds have facilitated investments in solar, wind, and hydroelectric power.
• Economic resilience: By encouraging environmentally friendly investments, green finance fosters new markets and job creation, contributing to financial stability.

By prioritising data sustainability, organisations can significantly improve the integrity of their carbon accounting processes. Ensuring that emissions data is accurate, reliable, and consistent over time allows businesses to make informed decisions to reduce their carbon footprints effectively. Robust data management practices and advanced analytics provide actionable insights, enabling companies to optimise their sustainability strategies and contribute meaningfully to global climate goals.

Enhancing data sustainability is critical for effective carbon accounting:

• Accuracy and reliability: Implementing robust data management ensures that emissions calculations are consistent over time.
• Advanced analytics: Leveraging analytics provides actionable insights, enabling companies to make informed decisions to reduce their carbon footprints.

By prioritising data sustainability, organisations can improve the integrity of their carbon accounting processes.

Driving change through transparency

Corporate climate disclosures are becoming both regulatory requirements and strategic tools:

• Building trust: Transparent reporting of GHG emissions and reduction initiatives enhances reputation and stakeholder confidence.
• Strategic alignment: Disclosures offer insights into climate-related risks and opportunities, allowing companies to align business strategies with global sustainability goals.

Also Read: Balancing economic growth and climate action: Decarbonising SEA’s built environment

At Digital Dialogue, we’re addressing the fragmentation in carbon emission data analysis by developing a platform that leverages:

• Centralised data integration: Our platform consolidates data from various sources, providing a holistic emissions overview.
• Advanced analytics and machine learning: We utilise these technologies to identify emission patterns, predict trends, and optimise reduction strategies.
• User-friendly interface: The platform is designed for ease of use, enabling organisations to track and manage emissions effortlessly.
• Regulatory compliance support: We ensure that companies meet international standards and best practices in GHG accounting.

Renewable energy: A beacon of hope and challenge

The International Energy Agency’s (IEA) Renewables 2024 Report offers a promising outlook, projecting a 2.7-fold increase in global renewable capacity by 2030. The significant growth is propelled by the cost-competitiveness of renewables and supportive policies in over 140 countries.

However, financial barriers, especially in developing nations, could impede the widespread adoption of renewable technologies.

Similarly, the UN Environment Programme’s Climate Technology Progress Report emphasises the need to triple renewable energy capacity and double energy efficiency by 2030. Achieving these ambitious goals requires overcoming significant challenges, including technology development and global transfer.

Overcoming the challenges of fragmented data in carbon emission accounting is crucial for achieving global sustainability goals. By harnessing big data and machine learning, we can significantly improve emissions tracking and reduction efforts.

At Digital Dialogue, our commitment is to empower organisations with Big Data tools and AI for Enterprise insights needed for this journey. Through innovation and collaboration, we aim to facilitate the transition to a low-carbon economy for the stakeholders and drive meaningful progress toward a sustainable future for the global industries.

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Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic.

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Image courtesy of the author.

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At Echelon Philippines 2024, Sabrina Tan, Co-Founder of Lhoopa, joined Adriel Yong of Ascend Network for an insightful fireside chat titled ‘Beyond Walls and Roofs: Lhoopa’s Journey of Empowering Individuals and Transforming Lives’. The session highlighted Lhoopa’s efforts to revolutionise homeownership in emerging markets.

Lhoopa’s mission is to make affordable housing accessible while creating economic opportunities for brokers and contractors. With over 3,000 homes sold, the company uses innovative technology to decentralise real estate operations, empowering local partners to scale their businesses and achieve financial independence.

Also Read: Echelon Philippines 2024: The funding landscape for Filipino startups

During the discussion, Tan outlined Lhoopa’s approach to balancing profitability with social impact. The company tackles challenges such as regulatory compliance and technology adoption, all while staying true to its core values of providing quality housing solutions to underserved communities.

She also emphasised the importance of mental health support for founders, suggesting peer-to-peer networks and coaching as crucial tools to manage the pressures of leading a mission-driven venture.

The fireside chat underlined Lhoopa’s broader vision: not just building homes, but fostering community transformation and empowering lives. This conversation demonstrated the critical role startups like Lhoopa play in addressing systemic challenges in emerging markets, proving that purpose and profit can coexist.

Watch the session video above to learn more about these insights and the strategies shaping the future of entrepreneurship.

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Dear reader,

GCash’s reported plans for a US$1 billion to US$1.5 billion IPO could mark a pivotal moment for the Philippines’ fintech sector, potentially becoming the largest IPO in the country’s history. As the dominant fintech platform serving 94 million Filipinos, GCash has transformed how the nation manages money, from bill payments to peer-to-peer transfers.

The move toward public listing signals the company’s confidence in its sustained growth and strategic ambitions, bolstered by investments from major players like Mitsubishi Corp and MUFG, which value GCash at US$5 billion.

The IPO aligns with a broader regional trend of fintech companies seeking to capitalise on their robust user bases and expanding service ecosystems. However, market conditions and investor sentiment will heavily influence the offering’s success.

If GCash achieves its target, it could not only redefine the Philippine IPO landscape but also solidify the country’s position as a burgeoning hub for fintech innovation in Southeast Asia.

Sainul,
Editor.

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NEWS & VIEWS

GCash said to weigh record Philippine IPO of up to US$1.5B
The Filipino fintech giant intends to list in the second half of next year; An IPO of that size would likely make it the biggest ever in the country.

Figma sues Singapore rival for copyright infringement
The case’s outcome could throw Motiff – a startup that was established just over two years ago – off its brief growth trajectory; Like Figma, Motiff offers collaborative UI/UX design tools for product teams and software developers to build digital products.

Partior adds Deutsche Bank as strategic investor in US$80M fundraise
The fintech startup’s blockchain-based network aims to address the inefficiencies inherent in traditional payment systems, including delays, lack of transparency, and high operating costs.

ByteDance sues intern over AI sabotage claims
ByteDance claims that the former intern with the surname Tian tampered with code, disrupting the training of an LLM and allegedly led to substantial resource wastage.

Amazon Japan raided by anti-monopoly authorities
The e-commerce giant is under suspicion of inappropriately urging vendors to lower their prices on its online shopping platform in return for better product placement.

Pi-xcels secures US$2.7M to lead retail’s shift to paperless transactions
The investors include Headline Asia, Wavemaker Partners, and Hustle Fund; Pi-xcels allows customers to receive digital receipts with a simple tap, replacing traditional paper receipts with an eco-friendly, interactive alternative.

Former Peak XV MD Piyush Gupta launch Kenro Capital for investments in India, SEA
Kenro Capital plans to deploy US$20-30M per investment, with the flexibility to invest larger amounts through co-investment opportunities.

SGX-listed 17LIVE acquires Japanese VTuber company mikai
This strengthens 17LIVE’s virtual IP business, enhancing its platform with mikai’s well-established virtual influencer portfolio; With this, 17LIVE will accelerate its V-liver business by integrating mikai’s strong brand and expanding its portfolio.

AI helps India’s Meesho cut some customer call costs by 75%
The Softbank-backed online shopping site has rolled out a GenAI-powered voice bot among Indian e-commerce firms for customer support; The AI bot currently handles 60,000 customer calls daily in English and Hindi.

TikTok Shop to launch in Spain
ByteDance, the parent company of TikTok, aims to increase its presence in the ecommerce sector by inviting store owners in Spain to join the platform since August.

FEATURES & INTERVIEWS

How tech is transforming the pet care market in Asia, Oceania, and Africa
Machine learning, AI, and computer vision are all emerging technologies that are used by startups to solve pet owners’ pain points.

How Polymatech advances semiconductors with sustainability at the core
Polymatech has invested significantly in automation, with robots playing a key role in reducing human intervention, and its goal is to achieve zero manpower in certain verticals.

Following MAS’s in-principle approval, Gemini flexes its growth muscle in Asia
Outside of Singapore, Gemini’s growth relies on organic user discovery rather than targeted marketing exercises.

Echelon Philippines 2024: Funding strategies for startups in emerging sectors
The Echelon Philippines session brought together key investment leaders to discuss opportunities and challenges in the Philippine market.

The future of payments in SEA: Regional cooperation remains critical in pushing for progress
Southeast Asia’s early adoption of IPS and commitment to collaborative payments innovation provide valuable lessons for other regions.

Rouge Ventures: To succeed, agritech startups need to go out, experience field work, and produce data from it
Rouge Ventures MD Desmond Marshall notes that agritech founders often position themselves as “scientists working in the lab”.

FROM THE ARCHIVES

What I learned after launching a successful business in Asia
Learn from Statrys’ founder as he shares practical advice on entrepreneurship, including risk-taking, timing, location choice, and performance measurement.

Leadership is key in promoting data literacy, governance in organisations: Qlik’s Geoff Thomas
The most pressing issue that companies are facing today is finding balance between protecting data and using innovative tools.

Data-driven healing: The potential of analytics and AI in advancing mental health
I presented three ‘calls’ that are thematics of what will drive real-world application in mental health and here are some examples of global innovators that showcase these themes.

How data centres adapt to shortages with advanced tech solutions
Data centres harness advanced tech for global demand with hyperscale tech, AI integration, and sustainable growth strategies.

How to stay creative in the age of Generative AI and Web3
Amid an avalanche of technology news in creative industries, we navigate an unprecedented era of fear of being left behind.

Beyond blocks, we need builders for Singapore’s digital domain too
We need to boldly prepare and empower locals to lead Singapore’s digital journey, ensuring wider participation in our digital workforce.

Breaking into the data centre sector: Beyond technical expertise
Data centres are complex projects, and the exponential growth of demand in this sector infers tight design and construction program timelines.

Connecting clouds in SEA: How to ensure interoperability in the hybrid and multi-cloud context
Understanding the importance of direct connections to clouds empowers Asian companies in their digital transformation journeys.

The future of startup fundraising in Singapore
Taking a deeper look into Singapore’s startup ecosystem by exploring some of the more popular means for startup fundraising.

Banks must solve their core banking conundrum – or fail
While the prospect of modernising a bank’s core may seem daunting, the right roadmap can indeed pave the way for lasting success.

Holding tight or letting go: A paradox I face as a father and a corporate venture builder
The age-old parenting paradox of holding tight and letting go holds true for corporate venture builders aligning corporates and ventures.

Money talks: How tech can boost Filipinos’ financial literacy
With parents and schools silenced by cultural taboos, money management apps are filling the gaps in Filipino youths’ financial knowledge.

The evolution of investing: How fintechs and neo-brokers are empowering retail investors
Fintechs and neo-brokers have made stock trading more accessible & affordable for retail investors, empowering them to take control of their financial futures.

THOUGHT LEADERSHIP

My journey with Lushair: Bringing AI-powered scalp diagnostics to life
Despite the obstacles, I am committed to bringing Lushair to as many people as possible, inspiring other young innovators along the way.

How does audience intelligence help startups make informed decisions?
Startups can use real-time audience intelligence to gather demographic and psychographic data, improving consumer insights.

Showcasing the future of healthcare, the Estonian way
Estonia’s healthtech ecosystem is focusing on integrating AI and machine learning, particularly in preventive care and early diagnosis.

You are what you eat: Opportunities in Southeast Asia’s agri-food sector
Explore the agri-food market potential in Southeast Asia, where startups leverage test beds and corporate support to scale products.

AI isn’t magic: Why smart marketers should be skeptical of the hype
Discover why AI isn’t a silver bullet in marketing and how to harness its power while keeping human elements central to effective strategies.

Save and invest as you shop: The triple ‘A’ of financial accessibility
The post-pandemic financial challenges Malaysians face are undoubtedly formidable, yet we now have potent tools to shape our financial futures.

Mastering the VC pitch: Crafting your winning exit strategy
Crafting a compelling exit strategy is not only about securing investment but also about setting a strong foundation for your business’s future.

The entrepreneur’s dilemma: Fundraising or taking a loan?
This article will break down all the pros and cons so that any entrepreneur deciding between the two may make a more informed decision.

Ethiopia: A haven for Bitcoin miners?
Ethiopia is becoming a Bitcoin mining hub due to its abundant renewable energy, low electricity costs, and improved regulations.

The post Ecosystem Roundup: GCash said to weigh IPO of up to US$1.5B | Figma sues Singapore rival | 17LIVE acquires Japan’s mikai appeared first on e27.

Singapore’s venture capital (VC) market is declining, reflecting a global trend of reduced investment activity.

This downturn, often referred to as a “funding winter,” has been observed across major startup ecosystems worldwide, including Silicon Valley, London, and New York City.

This trend is evident in Singapore’s decline in deal volume and value in the first nine months of 2024.

Also Read: The future of startup fundraising in Singapore

Data from Enterprise Singapore and PitchBook reveals that venture funding deal volume by Singapore-headquartered firms has decreased steadily since 2022. In the first nine months of 2022, there were 518 deals, dropping to 410 in the same period in 2023 and further down to 369 in 2024.

Similarly, the deal value has also fallen from US$8.5 billion in the first nine months of 2022 to US$4 billion in the corresponding period of 2024.

This decline can be attributed to various factors, including:

• Global economic uncertainty: Rising interest rates and inflation have made investors more cautious, leading to a pullback in venture capital investments globally.
• Extended fundraising timelines: Startups face longer fundraising timelines as investors conduct more comprehensive due diligence and seek more favourable valuation targets.
• Emphasis on profitability: Investors increasingly prioritise companies with a clear path to profitability, making it more challenging for early-stage startups to secure funding.

The decline in Singapore’s VC market is particularly pronounced in the deep tech sector, characterised by longer funding cycles and higher capital requirements. Deep tech venture activity has experienced a steeper downward trend than general tech, indicating investors are becoming more selective in their deep tech investments.

However, despite the current downturn, Singapore remains a prominent player in the Southeast Asian VC landscape. The country leads in ASEAN deal activity, accounting for 58 per cent of deal volume and 68 per cent of deal value in the first nine months of 2024.

Moreover, the island nation remains among the top five global startup ecosystems, demonstrating its strong foundation and attractiveness to investors.

The Singapore government is actively addressing the challenges posed by the funding winter and remains committed to fostering innovation and growth, particularly in the deep tech sector.

Key initiatives include:

• Increased funding for deep tech startups: The government has allocated an additional SGD440 million to the Startup SG Equity scheme, expanding the total pool of government funding to over SGD 1 billion. This will enable the government to co-invest with global and local VCs in Singapore-based deep tech startups, supporting their growth and global expansion.
• Support for early- and early growth-stage startups: In 2025, two government-backed investor arms, SEEDS Capital and EDBI, will merge to form SG Growth Capital. This merger will expand the funding range to cover both early-stage and early growth-stage startups, providing more comprehensive support throughout their development.
• Collaboration with venture builders: The government is strengthening its partnerships with local and global venture builders, leveraging their expertise and proven business models to bring impactful technologies from lab to market.
• Launch of Stage One: A multi-agency initiative led by Enterprise Singapore and the Economic Development Board, Stage One will be a one-stop platform to support startups throughout their journey, from setting up in Singapore to scaling globally. This platform will connect local and global startup communities, fostering collaboration and growth.

The report also includes insights from prominent figures in Singapore’s VC ecosystem, who offer a mix of caution and optimism for the future. While acknowledging the challenges of the current funding environment, these industry leaders emphasise the long-term potential of deep tech investments and the opportunities for Singapore.

Also Read: Shifting tides: Vietnam and Philippines challenge Singapore and Indonesia in startup investment

Overall, while the current funding winter presents challenges, Singapore’s venture capital market remains resilient, supported by a strong foundation, government initiatives, and a vibrant startup community.

The country’s strategic focus on deep tech and its commitment to fostering innovation position it well to emerge stronger from this downturn and capitalise on technology’s transformative power.

The post Singapore’s VC market cools down in 2024, mirroring global trend appeared first on e27.

In the evolving landscape of Asian fintech, super apps are proving pivotal in advancing artificial intelligence (AI) innovation. With their all-encompassing functionality and deep integration into daily life, these platforms have become more than just conveniences. They are catalysts for transforming financial services, particularly in regions where traditional banking infrastructure falls short.

Prevalent in markets such as China, Indonesia, and India, super apps thrive in a context where users expect a single platform to handle multiple aspects of their lives. This ecosystem presents fertile ground for AI innovation, offering practical applications such as chatbots, data-driven personalisation, and advanced analytics.

Scarlett Sieber, Chief Strategy & Growth Officer at Money20/20, tells e27 that the prevalence of super apps in Asia provides unique opportunities for AI use cases that are less common in Western markets.

For instance, AI-powered chatbots in Asia are significantly more advanced compared to their counterparts in the US or Europe. They not only address customer inquiries but also support sales and collections processes. Sieber points to examples such as DANA in China, where in-branch AI assistants deliver real-time, avatar-based customer support. These innovations enhance operational efficiency while also creating new revenue streams.

Regional variations in adoption

Asia’s diverse economies exhibit varied rates and methods of AI adoption. According to Sieber, a joint study by Money20/20 and Acrew Capital found that 80 per cent of leading financial institutions in Asia are already implementing AI initiatives, outpacing Europe and matching strides with the US.

However, the type of adoption differs. Markets such as Japan and South Korea leverage AI for high-tech applications within banking, while Indonesia’s super app ecosystem caters to a mobile-first, geographically dispersed population.

Also Read: How to revolutionise the banking and finance industry with Robotic Process Automation

Indonesia serves as a prime example. With its younger demographic and mobile-first (often mobile-only) users, super apps dominate as the primary interface for financial and non-financial interactions. The blurring lines between B2B and B2C services within these apps further underscore their role as a testing ground for AI-driven innovations.

Super apps have also emerged as crucial tools for addressing financial inclusion in underbanked regions. Many users in Asia interact with financial services through consumer platforms they already trust, such as ride-hailing or e-commerce apps. This inherent trust allows super apps to integrate AI-based financial tools seamlessly, reducing barriers for first-time users.

AI’s ability to analyse vast datasets becomes particularly valuable in these contexts. By examining users’ spending patterns, these systems can recommend financial products tailored to individual needs.

Sieber explains how AI could highlight better financial choices for users, such as optimising credit card rewards, a seemingly small change that can have substantial impacts for underbanked populations over time.

On efficiency and revenue generation

While efficiency remains a core objective of AI adoption in financial services, Asian institutions are increasingly exploring revenue-generating opportunities. Approximately 50 per cent of AI initiatives focus on creating new income streams, particularly in wealth management and customer support.

This dual focus enables financial service providers to not only cut costs but also expand their offerings, making them more competitive in a crowded market.

Super apps amplify these benefits by serving as integrated platforms where AI can be deployed at scale. From managing loan applications to offering personalised investment advice, these apps demonstrate the scalability and versatility of AI technologies.

Also Read: Debunking misconceptions about FinOps and cloud spending reduction

A broader perspective on innovation

The rise of AI in Asian fintech also reflects a broader commitment to innovation. Institutions such as Indonesia’s Mandiri Capital are combining financial services with sustainability initiatives, demonstrating a multi-tiered approach to driving economic and technological growth. By investing in regional startups and fostering AI development, they aim to bridge gaps in financial accessibility while accelerating technological adoption.

China, meanwhile, continues to lead in the development of AI technologies, especially in banking. From customer service innovations to AI-driven branch technologies, Chinese companies exemplify how super apps can redefine traditional banking operations. Their influence extends beyond national borders, serving as models for neighbouring countries and beyond.

Despite its successes, AI integration into financial services via super apps is not without challenges. Regulatory frameworks across Asia vary widely, posing hurdles for consistent implementation. Moreover, ensuring data privacy and building consumer trust remain critical issues, particularly as these apps handle sensitive financial information.

The future of AI in Asian fintech is undoubtedly tied to the evolution of super apps. These platforms, with their unparalleled reach and versatility, provide a robust foundation for AI-driven innovation. As the region continues to embrace AI at scale, the potential for creating more inclusive, efficient, and customer-centric financial ecosystems becomes increasingly apparent.

In this dynamic environment, super apps do more than serve consumers—they shape the future of financial services. By leveraging AI to enhance user experiences and drive business growth, they exemplify the transformative power of technology in one of the world’s most vibrant fintech landscapes.

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Image Credit: Money20/20

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