From Indonesia’s presidential election, which thrusted the climate credibility of its leaders into the spotlight, to the growing stress faced by chief sustainability officers, Eco-Business’ top stories this year highlighted the interconnectivity of politics and business with climate and nature.
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2024 also saw global travel rapidly recovering from the lows of the Covid-19 pandemic, with tourism numbers expected to surpass levels seen before the crisis. In many European cities, locals turned against outsiders to protest the impacts of mass tourism; closer to home, Japan put in new measures to tamp down the crowds, including by erecting a barrier to block snow-capped views of Mount Fuji.
At Eco-Business, we reported on how revenge travel is overwhelming waste management systems on the island province of Cebu. It is projected to generate the highest amount of solid waste in the Philippines by 2025.
On the other hand, for Indonesia’s Bali, the lifting of cross-border travel restrictions not only brought back tourists, but also attracted a new kind of visitor – the sustainability-focused entrepreneur. A special report looks at how Bali has evolved to become a hotspot for green startups.
Other highlights include reports on Singapore’s ‘30 by 30’ food challenge and how a novel financing mechanism can help speed up Southeast Asia’s coal phase-out.
Here are the 10 most read stories this year:
1. Which of Indonesia’s election hopefuls has the most climate credibility?
The new administration is set to supercharge the food estate programme that activists warn repeats a long pattern of deforestation for little gain, and continue championing a nickel industry responsible for widespread environmental destruction and emissions. Image: Ben Dance / FCDO, CC BY-SA 3.0, via Flickr.
2024 was a landmark year for elections globally as nearly half the world’s population headed to the polls in a ‘mega election year’, with 72 countries casting ballots to elect new leaders.
The year witnessed populist figures gaining ground – among them notable climate change denier and Republican President of the United States Donald Trump, who clinched a re-election to his second term in office against Democratic rival Kamala Harris in November.
In Southeast Asia, strongman leader Prabowo Subianto swept up votes across Indonesia in the country’s presidental poll and succeeded outgoing President Joko Widodo in October, under whom Prabowo had served as defence minister.
On the campaign trail, the retired army general vowed to build up the country’s food and energy self-sufficiency by championing food estates and palm oil-derived biodiesel. However, both initiatives have been criticised for their potential to accelerate national deforestation rates. Among Prabowo’s other pet projects is a ‘Giant Sea Wall’ to combat sea-level rise in coastal Java and Jakarta, the country’s capital city which has been sinking due to land subsidence.
2. Chief sustainability officers are burning out. Has the role become unsustainable?
Although many chief sustainability officers are feeling burnt out, there is a sense of shame in admitting it, according to a global survey of sustainability executives in 2023 by recruitment firm Acre. Image: UNclimatechange, CC BY-SA 3.0, via Flickr.
Chief sustainability officers (CSOs) said that they have become increasingly overwhelmed as the demands of their role grew, with many needing more help in managing the expanding scope of sustainability responsibilities.
Tasked with overseeing everything from environmental stewardship to risk management, CSOs often face a lack of support from senior management and insufficient resources, they told Eco-Business associate editor Robin Hicks in a special report. High workload, combined with unrealistic expectations from senior management, left many feeling isolated and stressed.
“The job is a marathon, not a sprint. But we are being asked to sprint a marathon,” said Golden Agri-Resources’s Anita Neville.
Experts warn that without clear boundaries and more organisational support, the CSO role risks becoming unsustainable.
3. Polluted paradise: how plastic trash and wastewater imperils lives and biodiversity in the Philippines’ top tourism draw
The Bojo River is an eco-tourism site found in the town of Aloguinsan in southwestern Cebu in the Philippines. Image: Cebu Provincial Tourism Office / Facebook
Over the past decade, the island province of Cebu has welcomed some 35.3 million tourists – drawn to the destination’s white sand beaches and diving excursions with whale sharks.
However, Cebu now faces a mounting waste crisis exacerbated by overtourism. The province is projected to generate the highest amount of solid waste in the Philippines by 2025, with plastic pollution and untreated wastewater threatening local biodiversity and the livelihood of coastal communities.
Eco-tourism sites like Olango Island and Bojo River are also struggling with how increasing levels of trash are harming wildlife and choking natural waterways. Without immediate action, Cebu risks losing its environmental and cultural treasures to pollution. Notably, the fifth and final Intergovernmental Negotiating Committee (INC-5) meeting to ink a legally binding treaty on plastics pollution ended in a deadlock earlier this month.
4. Sowing the impossible? A special report on Singapore’s ‘30 by 30’ food challenge
Kale growing indoors at a downtown NTUC Fairprice outlet in Singapore. Image: Liang Lei / Eco-Business.
Faced with a scarcity of land resources, the city-state determined five years ago that it would triple its food production by 2030, via an ambitious “30 by 30” food security goal – it aimed to produce 30 per cent of its nutritional needs locally by 2030. However, despite government support, which included grants for innovation, local food production remains under 10 per cent.
This special report explores the nuances of Singapore’s food security challenge, from the growing pains of its “30 by 30” challenge to what lies ahead for the industry. Even as local producers battle market competition and costly operations, the government has said it remains committed to the target.
Many local farmers and agrifood start-ups also told Eco-Business that they still believe in the goal of food self-sufficiency, despite the challenges. “What is critical is people accepting local produce and believing in buying local,” said Kenny Eng, a fourth generation farmer who leads horticulture group Gardenasia.
5. Killing them softly: Southeast Asia’s cautious quest to phase out its coal fleet using transition credits
An artist rendition of the South Luzon Thermal Energy Corp. (SLTEC) plant in Calaca, Batangas. It likely will be the world’s first facility to be retired and replaced with renewables using a novel class of carbon credits. Image: Philip Amiote / Eco-Business
This special report explores Southeast Asia’s cautious approach to phasing out coal, using a relatively new financing mechanism – “transition credits”. The credits are sold on the basis of helping to retire fossil fuel plants early and replacing them with renewable energy.
Highlighting the case of the South Luzon Thermal Energy Corporation (SLTEC) plant in Calaca, Batangas in the Philippines’ central Luzon region, the report delves into the challenges of balancing financial viability, community impact and the region’s net zero goals.
Transition credits could accelerate coal plant closures, but questions remain about their effectiveness and whether they ensure fair treatment of the affected communities. This report – as well as its short documentary counterpart – is essential reading for those who want to understand the complexities of financing the transition from coal to clean in the highly fossil fuel-dependent region.
6. ‘Silicon Bali’: Asia’s paradise for sustainability startups?
A coworking space in Bali, Indonesia bustling with remote workers and expat entrepeneurs. Image: Tropical Nomad
Bali, long known as a tourist destination, is positioning itself as a hub for sustainability startups, aiming to draw in eco-conscious entrepreneurs seeking a unique blend of paradise and purpose.
As the island recovers from the pandemic, it is diversifying its economy by encouraging the growth of green businesses focused on everything from clean energy to waste management. While Bali’s cultural ethos and government initiatives support eco-innovation, challenges like limited funding, underdeveloped infrastructure and regulatory gaps remain.
Is the island on the verge of becoming ‘Silicon Bali’ for sustainability entrepreneurs, or is it more beach than business? This article explores the island’s growing eco-startup scene and the hurdles it faces.
7. Protecting Asia’s coastal cities: How can vulnerable economic hubs better prepare for a beyond-2°C scenario?
Floodgates near Manila in the Philippines. Image: Judgefloro / Wikimedia Commons
Asia’s coastal cities face mounting climate risks due to global warming, from rising sea levels to extreme weather threatening millions of lives and trillions in economic assets.
As global temperatures threaten to edge beyond 2°C, urban centres are increasingly vulnerable to flooding, storms, and heatwaves, exacerbated by rapid population growth and limited resources.
This special report examines how cities like Bangkok, Jakarta, and Mumbai are grappling with these challenges, exploring innovative solutions like “sponge cities” and nature-based defences. With climate adaptation funds falling short, it’s clear that without urgent action, the region’s future stability is at risk. Read this piece for critical insights into protecting Asia’s vulnerable coastal hubs.
8. Can Jambi’s farmers offer the world a model of sustainable agriculture and reforestation?
Smallholder groups for sustainable palm oil and visitors plant fruit trees along the river bank at Sungai Asam in Jambi, part of an initiative to rehabilitate the riparian area. Children look on from the bridge above. Image: Samantha Ho / Eco-Business
In Jambi, Indonesia, smallholder farmers are turning palm oil plantations into models of sustainable agriculture and reforestation, driven by innovative practices and support from the Roundtable on Sustainable Palm Oil (RSPO).
With additional income from RSPO credits, farmers like Imron Rosjidi are using organic fertilisers and diversifying crops – such as edible mushrooms – for extra income. These efforts are supported by local groups and are helping restore ecosystems, including river conservation areas.
However, new EU regulations may threaten this progress, as smallholders struggle with compliance. This story highlights the crucial balance between sustainability and regulation, urging global support for smallholders.
9. The case for carbon offsets as interim solution for aviation emissions
While sustainable aviation fuel has increased in use to over 24 million gallons in 2023, it represents a mere 0.2 per cent of global jet fuel consumption. Image: Nick / Flickr
In this episode of the Eco-Business Podcast, produced in partnership with environmental services provider EcoSecurities, EBStudio assistant editor Jeremy Chan speaks to Pablo Fernandez, EcoSecurities’ chief executive officer, and Yue Huang from the International Air Transport Association, to discuss carbon offsets as a practical, interim solution to aviation’s emissions crisis.
With sustainable aviation fuel still too costly and limited in supply, carbon offsets can help airlines comply with new regulations like the industry’s Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA), which mandates emissions reductions for companies starting in 2024.
Despite challenges such as the supply-demand gap for approved carbon credits, the conversation highlights why offsets are essential for meeting global decarbonisation goals. Tune in to learn how airlines can use offsets strategically to bridge the gap until alternative fuels become viable.
10. One-third of companies that lost SBTi net-zero target validation are from Asia Pacific
None of Southeast Asia’s biggest three banks, DBS, OCBC or UOB, have SBTi-approved net-zero targets, although all three have strengthened their goals in recent years and consider their targets to be science-based. Image: COP29 Azerbaijan, CC BY-SA 3.0, via Flickr.
A third of the 173 companies which were recently dropped by the Science-Based Targets initiative (SBTi) for failing to meet its net-zero standards are based in Asia Pacific, highlighting the region’s challenges in achieving corporate decarbonisation.
Despite rapid growth in the number of companies making SBTi-approved targets, many firms have struggled with achieving those planned emissions reductions, especially in developing Asia. Companies which sign on to the initiative must reduce their Scope 3 emissions, which often make up the bulk of their carbon footprint. However, many lack the expertise or resources to meet SBTi’s stringent criteria.
As firms grapple with economic pressures and evolving standards, more companies are stepping back to reassess their climate commitments.
Did you enjoy these stories? Let us know what we should be writing about in 2025 by sending your comments to news@eco-business.com. This story is part of our Year in Review series.
