Big win for RGE at CorporateTreasurer Awards 2024

As a global enterprise in the bio-based resources and energy sectors, RGE operates based on its ‘5Cs’ business philosophy – that whatever the company does must first be good for the Community, Country, Climate and Customer, and only then will it be good for the Company.
This philosophy reflects how the Singapore-headquartered company, which operates at the heart of the bioeconomy, has embedded ESG into its business strategy and operations. Committed to a deforestation-free supply chain, biodiversity protection, increasing the use of renewable energy and community empowerment, RGE recognises that its decisions have to benefit the environment and the communities it serves.
Pathways to sustainability
RGE’s sustainability journey to integrate environmental and social considerations into its business model has spanned decades. Anchored by the RGE Group Sustainability Policy, this comprehensive framework guides the company and its business groups in addressing four key pillars: climate; nature and biodiversity protection and conservation; human rights; and sustainable growth.
In 2020, RGE adopted an ambitious 2030 Agenda with 18 targets aimed at addressing climate change, enhancing human capital and promoting sustainable development across its operations. Each member of the RGE global group of companies further established its own 2030 sustainability goals that are aligned to the relevant United Nations Sustainable Development Goals (SDGs) and national and global climate goals, ensuring measurable outcomes.
Progress is monitored, reported and independently verified to ensure transparency and accountability.
Translating sustainability to treasury
RGE firmly believes that the private sector, operating on the ground with knowledge and resources, is uniquely-positioned to lead the sustainability journey. The company places a strong emphasis on collaboration with the financial community, where collective efforts can lead to broader benefits for economic growth, societal well-being and environmental sustainability.
RGE’s targets include reducing emissions intensity by 30% to 50% by 2030, achieving net-zero status by 2050, and transitioning to clean and renewable energy sources across its operations. These targets are translated to practical actions and deliverables across its operations, commercial teams and treasury department.
This approach has sharpened RGE’s ESG focus, unlocked tangible business benefits and earned the company recognition with the Best ESG Initiative award.
By aligning its financing with ESG principles, RGE has enhanced its access to capital markets and improved liquidity, providing a competitive advantage for the company while advancing its sustainability goals. In return, its banking partners have benefitted from meeting their own ESG objectives while supporting RGE’s transition to a low-carbon and resource-efficient business model.
Through this collaborative approach, RGE and its banking partners demonstrate how aligning financial strategies with sustainability goals can create shared value and drive meaningful impact across industries.
Excelling in cash management
Within cash management, RGE has over the past 12 to 18 months focused on allocating a more significant portion of its cash into green deposits, in line with its sustainability commitment to adopting sustainable products for corporate cash, foreign currency and risk management.
However, not all deposit banks offer products that meet the required green principles, and some face limitations in available quotas. Despite initial challenges, the number of RGE’s counterparty banks accepting its green deposits quadrupled between 2022 and mid-2024.
The Excellence in Cash Management award highlights RGE’s efforts in this area and the strides it has made in optimising its cash management infrastructure over the past year. These include expanding its use of the SWIFT payment system via Treasury Express for SwiftNet – an approach that enables the company to communicate with banks through a single, highly secure channel, streamlining processes and minimising inefficiency associated with traditional e-banking methods.
Aside from technology adoption, RGE’s success is equally built on its people. An example is Kaka Wong, RGE’s Regional Treasurer, who received the Leading Woman in Treasury award. She has played a pivotal role in mentoring and empowering her team to reach their full potential.
“We are deeply honoured to receive these prestigious accolades at the CorporateTreasurer Awards 2024,” said Patrick Ng, Group Treasurer at RGE. “As we continue on our journey toward a net-zero future, we invite our partners to join us in driving innovative solutions and scaling up efforts to create a sustainable, low-carbon economy. Together, we can build a cleaner, greener and more circular world.”
Ng was awarded Best Treasurer in the Marquee Awards category and RGE was one of the winners in the Best Treasury and Finance Strategies at CorporateTreasurer Awards 2022.