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Yahoo
12-05-2025
- Health
- Yahoo
New report calls for collective action to fight ‘silent pandemic' of Asia's growing antimicrobial resistance
In Asia Pacific, related costs are projected to reach up to US$700 billion by 2050. However, timely investment could generate between US$10 billion and US$15 billion in annual healthcare savings. A new report by Temasek Trust initiatives calls for more funding to tackle antimicrobial resistance in Asia (AMR), which could become the leading cause of death by 2050. The report, released May 5, outlines four key areas where funders can drive meaningful impact - from education and prevention to surveillance and treatment. "Antimicrobial resistance is on track to become the deadliest health threat facing humanity. But with urgent action and targeted finance, over 100 million deaths could be prevented by 2050," reads the report by the Centre for Impact Investing and Practices (CIIP) and the World Economic Forum's GAEA (Giving to Amplify Earth Action) initiative, supported by the Philanthropy Asia Alliance (PAA). Rising temperatures and extreme weather events are accelerating bacterial growth and disease transmission, while disrupting healthcare and immunisation services, say the report's authors. Climate-related pressures are also driving the increased use of antimicrobials in livestock and crops, contaminating freshwater sources and fuelling drug resistance, they add. In Asia Pacific, AMR-related costs are projected to reach up to US$700 billion by 2050, accounting for up to 1% of the region's GDP. However, timely investment in AMR solutions could generate between US$10 billion and US$15 billion in annual healthcare savings, and cut the region's annual socioeconomic costs by up to US$40 billion within the next decade, claim the authors. The 52-page report, titled "Targeted Action and Financing the Fight Against Antimicrobial Resistance in Asia", draws on insights from 15 case studies and examples of funding mechanisms, along with contributions from 26 organisations. New therapeutics, such as drugs and vaccines, can take 10 to 15 years to develop and launch to market. Hence, the authors call for immediate and practical interventions to curb resistance today and pave the way for long-term solutions. The report proposes interventions in four areas: Educate: Improving knowledge and behaviour by strengthening awareness of AMR among clinicians, patients and farmers; emphasising the importance of avoiding the overuse or abuse of antimicrobials; as well as introducing strategies to prevent infections in the first place. Prevent: Strengthening health systems and services by boosting preventive measures such as improving diagnostic capabilities and investing in better water, sanitation and hygiene measures. Monitor: Enhancing regional surveillance, and data collection and sharing between actors, especially in lower-income countries. Treat: Investing in research and development for new antimicrobials, and increasing access to novel and essential medicines. Private funders, impact investors and philanthropists have a vital role to play in closing critical gaps, say the authors, particularly in late-stage drug development, where funding is scarce. By pooling resources, funders can help bring life-saving treatments to market, strengthen the antibiotic pipeline, and build more sustainable and widespread access to essential medicines. PAA CEO Shaun Seow says the report is a catalyst for deeper involvement from all sectors - philanthropic, public and private. "It highlights the scale of the AMR threat and the opportunity for collective action. We are encouraged by the ongoing work of organisations - including PAA members like the Gates Foundation, Wellcome Trust and Novo Nordisk Foundation - in driving AMR research and greater access to affordable solutions. Now is the time for more partners to come together, pool resources and support high-impact solutions that safeguard health and resilience across Asia and beyond." Infographic: CIIP, GAEA, PAA See Also: Click here to stay updated with the Latest Business & Investment News in Singapore 'Green revolution' needed to solve issues like food systems and nutrition, says President Tharman Trump administration will 'come around' on importance of partnerships: Bill Gates WEF, GenZero launch Green Fuel Forward initiative to scale sustainable aviation fuel demand in APAC Read more stories about where the money flows, and analysis of the biggest market stories from Singapore and around the World Get in-depth insights from our expert contributors, and dive into financial and economic trends Follow the market issue situation with our daily updates Or want more Lifestyle and Passion stories? Click here
South China Morning Post
10-05-2025
- Business
- South China Morning Post
Hong Kong's Li Ka-shing makes rare public appearance, declines to discuss port deal
Hong Kong tycoon Li Ka-shing had made a rare public appearance, attending a concert at Kai Tak Stadium but declining to answer questions on his company's controversial Panama Canal port deal. Advertisement Li, 96, was sitting in a bike-like wheelchair, smiling and saying 'thank you' to people waiting when he exited a lift at the stadium where Taiwanese band Mayday was performing on Saturday night. He was also asked if he had anything to say about CK Hutchison Holdings move to sell its overseas ports business, including two key docks at either end of the Panama Canal, to a consortium led by US asset management firm BlackRock. Li declined to answer. But a woman accompanying him, Solina Chau Hoi-shuen, co-founder of a venture capital firm backed by the tycoon, replied he was retired. She added that it was the first time Li had visited the stadium. Advertisement Li's last public appearance was in a video at a gifting ceremony last month, when he donated two machines that can remove cancerous tumours with ultrasound waves to Temasek Trust in Singapore
New Straits Times
10-05-2025
- Business
- New Straits Times
Asean–US tariffs: Malaysia's stance driven by strategy, not showmanship
KUALA LUMPUR: The allegation by a former Singaporean diplomat that only Malaysian Prime Minister Datuk Seri Anwar Ibrahim supports Asean's collective approach in addressing tariff issues with the United States has been described as entirely baseless. Furthermore, the suggestion that Anwar's efforts are merely a ploy to gain international prominence has been labelled deeply troubling and undiplomatic. Responding to the remarks made by former Singaporean diplomat Bilahari Kausikan, special officer for (international relations) to the Deputy Prime Minister, Neow Choo Seong, said the claim reflected a fundamental misunderstanding of Malaysia's principled foreign policy under Anwar's leadership. Neow stressed that Malaysia had long championed Asean unity, particularly in confronting growing geopolitical and economic tensions resulting from unilateral trade measures. "Our approach is guided by strategic wisdom, not political theatrics. "For a former senior diplomat like Bilahari to dismiss Malaysia's efforts as cheap rhetoric is insulting and demonstrates a disregard for regional unity and the spirit of mutual respect among Asean member states," he said in a Facebook post today. In a Facebook post yesterday, Bilahari claimed that every Asean member state, including Malaysia, prefers to engage with the US on a bilateral rather than collectively. He said that it was impractical for Asean to address tariff issues as a bloc due to the diversity of tariffs and economic structures across member countries, and alleged that only Anwar believes otherwise — or is pretending to do so in a bid to distinguish himself. Neow, who is also MCA Youth information chief, said it was even more disappointing that Bilahari's remarks were reshared by Singapore's First Lady, Ho Ching, who also chairs the Temasek Trust. He said that her apparent endorsement only exacerbated the situation. He added that individuals who continue to represent influential institutions or national legacies, such as Bilahari and Ho Ching, carry a responsibility to foster unity rather than division. "If they cannot contribute constructively to regional discourse, they should refrain from making statements that erode trust and heighten tensions," he said. Neow stressed that Malaysia would not tolerate disparaging remarks or undue criticism for advocating a united Asean voice and would not be intimidated by condescending rhetoric disguised as personal opinion. "Our stance is rooted in the long-term stability and integrity of Asean as a bloc that must rise collectively to meet the challenges of our time — not splinter or be manipulated by external pressures or internal cynicism. "Malaysia will continue to resolutely defend its national interests and promote Asean unity with clarity, conviction, and unwavering resolve," he added.
CNA
05-05-2025
- Business
- CNA
EDB and Temasek Trust's philanthropy advisory arm to boost funding for high-quality carbon projects
A new partnership between the Economic Development Board and Temasek Trust's philanthropy advisory arm aims to plug early financing gaps faced by carbon projects. The partnership will bring more capital to EDB's Carbon Project Development Grant. It is among a slew of initiatives launched at the GenZero Climate Summit 2025 to help move carbon markets along. Rachel Teng reports.
Straits Times
05-05-2025
- Business
- Straits Times
Asia remains underfunded in climate finance but philanthropic funding can help plug gaps: Ravi Menon
Singapore's ambassador for climate action Ravi Menon speaking at the Philanthropy Asia Summit on May 5. ST PHOTO: CHONG JUN LIANG Asia remains underfunded in climate finance but philanthropic funding can help plug gaps: Ravi Menon SINGAPORE - Asia is where the climate change fight will be won or lost, yet the region remains severely underfunded in terms of cutting emissions and building resilience, said Singapore's ambassador for climate action Ravi Menon on May 5. Speaking at the Philanthropy Asia Summit convened by Temasek Trust's Philanthropy Asia Alliance , Mr Menon said philanthropic funding can help to plug these gaps. Asia accounts for half of the global emissions, he said, adding that some 90 per cent of the world's future growth in energy demand will come from Asia. Yet, globally, less than two per cent of philanthropic giving goes towards preventing climate change. Of this, only 12 per cent goes to Asia, he said. 'Without decarbonising Asia, the world will not reach net zero,' he added. 'This is a time for philanthropy to play a larger role in driving climate action in Asia. Public funding is willing but insufficient while private funding is ample but unwilling to commit due to high risks, said the former chief of Singapore's central bank. Philanthropic funding can help to de-risk projects so private sector capital can be crowded in, he added. Mr Menon noted that decarbonisation projects are often capital-intensive and require large investments. Philanthropic capital is considered 'catalytic' as it is willing to accept lower returns, even losses, and can thus help to reduce risk borne by commercial entities. For philanthropies, tapping funding instruments such as blended finance schemes can also maximise the impact of their contributions, compared with giving grants, Mr Menon added. Blended finance refers to using public and philanthropic funding support to make it easier for private funding to come on board. An example of blended finance initiative is the Financing Asia's Transition Partnership (Fast-P) launched by Singapore in 2023 to raise up to US$5 billion (S$6.45 billion) to address the financing gap in green projects in Asia. This could include the early phase-out of coal power plants and the upgrading of electricity grid infrastructure. Fast-P involves the Monetary Authority of Singapore, multilateral development banks and philanthropic organisations, among others. With many parts of South-east Asia lacking sufficient climate data - which hinders efforts to cut emissions or prepare for climate impacts - philanthropies can also fund data collection, enhance access and build local capacity in data analysis, said Mr Menon. And given that the transition to a lower-carbon economy will disrupt communities and livelihoods, philanthropies can also help communities by reskilling workers and empowering communities. 'Amid the growing risks to lives and livelihoods from the climate crisis, we need philanthropy to help communities adapt and thrive,' he added. Decarbonisation activities entails changes in long-standing economic activities, and could involve changing agricultural practices or phasing out fossil fuels in power generation. In a separate dialogue at the event with Gates Foundation chairman Bill Gates, President Tharman Shanmugaratnam said philanthropy can also help boost innovation. For example, it can help to revolutionise food systems. Mr Shanmugaratnam said food demand will continue to go up. But supply would be constrained given agriculture's impacts on climate change. 'We have reached the limits of our produced food… both by ordinary, small farmers as well as industrial agriculture. We reached the limits because it is too large a source of greenhouse gas emissions. We can't keep encroaching into natural forests and other natural ecosystems,' he said. Gates Foundation chairman Bill Gates (left) and President Tharman Shanmugaratnam participating in a dialogue at the Philanthropy Asia Summit on May 5. ST PHOTO: CHONG JUN LIANG One example he noted is an initiative by Temasek Life Sciences Laboratory to reduce methane emissions, conserve water and increase yields in rice production, so that this staple can be grown more sustainably. Methane is a powerful greenhouse gas with greater warming potential than carbon dioxide. The role of philanthropies in helping to narrow the funding gap for many pressing issues – such as climate change and public health – is gaining traction amid growing recognition that governmental funding alone will not be able to address these issues. During the dialogue, Mr Gates said his Foundation is setting up an office in Singapore, to access the science and research being done here, and to partner with the philanthropic community. 'Both (Gates Foundation and Breakthrough Energy) are very excited about what's going on in Singapore,' he said. Breakthrough Energy is an umbrella group for energy and environmental efforts founded by Mr Gates. It aims to accelerate innovation in sustainable energy and in other technologies to reduce greenhouse gas emissions. The Economic Development Board said in a separate statement that the establishment of a Singapore presence reflects the Gates Foundation's broader commitment to working alongside countries and partners to help more people live healthy and productive lives, and to accelerate progress toward achieving the Sustainable Development Goals. Join ST's WhatsApp Channel and get the latest news and must-reads.
