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Faithful+Gould Partners with Atkins Acuity to Build Infrastructure Capacity in Singapore

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Singapore has, in recent years, been recognised as a highly attractive market in the world for infrastructure investment.

With support from Singapore’s Economic Development Board (EDB), a government agency that acts to stimulate economic growth and create employment opportunities in Singapore, Faithful+Gould and Atkins Acuity (Acuity) are investing and training consultants, managers and directors to expand skills in project management and whole asset lifecycle infrastructure development.

Faithful+Gould will be investing up to $2 million over the next five years to develop 16 high-potential project managers in deepening their skills for project leadership roles.

Acuity has plans to invest $2.5 million over the next five years in recruiting and developing 18 high potential consultants, managers and directors in Singapore to develop skills in advanced infrastructure development, overcoming complex asset management challenges, and delivering solutions across the whole asset lifecycle for developing economies.

Chief executive officer Donald Lawson said, “Investment in skills is essential to drive innovation and enable sustainable economic growth in the region. Specifically, with the advent of digital, we see an unprecedented momentum of change in the construction industry. Our partnership with EDB is empowering us to prepare for this change and build capacity and create job opportunities in Singapore while helping grow the infrastructure market.”

Ms Fong Pin Fen, director for cities, infrastructure and industrial solutions at EDB, added, “We are pleased that Atkins has set up its global end-to-end advisory business, Acuity, whose senior leaders are based in Singapore. Atkins Groups’ investment will help bring value to Singapore’s infrastructure ecosystem and strengthen our standing as Asia’s leading infrastructure hub. With talent as a key pillar of the sector, EDB looks forward to partnering Faithful+Gould and Acuity in not only growing its business, but also in the building up of skilled talent that will help fuel the industry’s growth.”

In recent years, Singapore has been recognised as a highly attractive market in the world for infrastructure investment thanks to its comprehensive infrastructure ecosystem, strong business environment, a healthy pipeline of development work and a growing economy. A workforce with deeper infrastructure skills will help the city better capture growing opportunities and maximise its growth potential.

AECOM and Asia Society Announce Imagine 2060

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The Manila launch will be followed by waterfront-focused events in Sydney , Los Angeles , and New York

The Manila launch will be followed by waterfront-focused events in Sydney , Los Angeles , and New York

AECOM, a fully integrated infrastructure firm, and Asia Society, a global non-profit institution, today announced a three-year partnership in the form of Imagine 2060: Delivering Tomorrow’s Cities Together.

Each forum is an opportunity for leaders in urban design, infrastructure and public policy to connect with a common goal – imagining a long-term vision for each city supported by innovative ways to achieve it. The first year of the partnership launched on 30 March, 2017 in Manila before moving to Sydney, Los Angeles, New York and culminating in Hong Kong.

“These are some of the most exciting and vibrant cities on our planet but they share common stresses caused by growth, urbanisation and densification which are only going to intensify with the predicted level of population growth,” says AECOM Asia Pacific President, Sean Chiao. “If we want future generations to flourish in these cities, it is up to those in positions of influence today to lead the way and create a legacy they can be proud of.”

The initiative will cultivate a connected global community of “city shapers” who are committed to sharing their experience and best practices, all aimed at enhancing the quality of life in Manila, Sydney, Los Angeles, New York and Hong Kong.

“This is the start of a new conversation between the brightest minds in urban design, business, economics, infrastructure design and public policy,” continued Sean Chiao. “The series will explore cities through five key lenses of wellbeing, economic development, culture, mobility and innovation in project delivery. It is our belief that the right balance of these elements leads to the best outcomes for cities and their citisens.”

Asia Society’s Executive Vice President, Tom Nagorski says, “What we are asking, essentially, is ‘Where do the great cities of our world need to be, a half century from now?’ And then ‘What must we do now to be sure that those dreams are realised?’ There are few more pressing questions for the planet’s future. Ultimately Imagine 2060 will be a guide not only for the five cities involved, but for any major metropolis interested in creating a roadmap for the future.”

2017: At The Water’s Edge
In its inaugural year, Imagine 2060 will examine issues involving the urban waterfront under the heading “2017: At The Water’s Edge” is a wide-ranging examination of how the diverse approaches to their proximity to water have shaped the quality of life for citizens of these five cities in radically different ways.

The world premiere of the five-city series took place on Thursday, 30 March, 2017 at The Manila House in Bonifacio Global City, Taguig City, Manila. It explored how citizens of the Philippines’ capital city can reimagine the original ideas of a “City Beautiful”, created by renowned urban planner Daniel Burnham back in 1905.

Throughout the Imagine 2060 series AECOM and Asia Society will compile the main findings from each city, build upon the discussions and publish the key insights on their website so they are available for further input and development.

The Manila launch will be followed by waterfront-focused events in Sydney, Los Angeles , and New York before the first year of the program is brought to a conclusion in Hong Kong.

Next year, AECOM and Asia Society will explore creative and resourceful strategies for land use by cities. The third and final year of Imagine 2060 will look at the futuristic-sounding, but all too real, prospects or use of aerial space and air quality.

Siemens, C40 Cities Climate Leadership Group and Citi Launch Report Outlining New Mechanisms to Boost Large-Scale Capital for Climate Action In Cities

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Globally, cities need to invest US$57 trillion in infrastructure in order to accommodate both their existing needs and projected growth.

Globally, cities need to invest US$57 trillion in infrastructure in order to accommodate both their existing needs and projected growth.

Globally, cities need to invest US$57 trillion in infrastructure in order to accommodate both their existing needs and projected growth. To finance this, a global effort by nations, banks, cities and the private sector is needed, according to a new report by Siemens, C40 Cities Climate Leadership Group (C40) and Citi.

Launched at the World Cities Summit 2016 in Singapore, “New Perspectives on Climate Finance for Cities” provides insights on potential financing options for climate change programs and projects in cities, the lead times and steps required to access different types of climate finance, and the lessons learned from cities around the globe.

“Following the historic Paris climate agreement, we must now take bold action to protect our planet for future generations. The only way to do this is dramatically increasing climate financing and attracting more investments,” said Mr. Seth Schultz, C40’s Director of Research, Management and Planning. “By providing an introduction for cities seeking to understand climate finance options, this report is a first step in that direction. It identifies possible routes for supporting climate-related projects and programs, including bonds, where the market in labeled green bonds has risen substantially from $0.8 billion in 2007 to $42 billion in 2015.”

Transformative financing options
To maximise impact, the report recommends six innovative financing mechanisms – and likely finance providers – for mobilising investment for cities and looks at the benefits and challenges of each approach.

Emission trading schemes: According to the report, 12 percent of global greenhouse gas emissions are covered through regional, national and sub-national trading schemes. Whilst emissions trading schemes offer flexibility, they can be vulnerable to unexpected economic impact.

Green bonds are useful for funding large infrastructure or aggregated programs over the medium to long term. In fact, many cities are now looking at issuing their own green labeled bonds following the pioneering efforts of Gothenburg and Johannesburg.

International Financial Institutions (IFI) and agency finance have broad policies to support certain sectors and market development. In some cases, IFIs may invest in projects that are considered too risky by commercial banks.

International and regional climate funds: The Green Climate Fund, for example, has over US$10 billion to invest in the developing world. More city governments are also establishing their own funds to attract other sources of financing to private sector projects.

City government-backed funds can de-risk or open up new markets where the private sector is unwilling to lend directly on its own. With this approach, cities can ensure that funding is directed towards their own priorities.

Equity capital: Institutional investors alone are managing US$71 trillion of assets in the OECD. Some cities are providing equity to projects to encourage further private sector funding as debt or equity.

“New financing models can support sustainable infrastructure development and corresponding investments in cities,” said Mr. Kenneth Hsi Jung Koo, Deputy General Manager and Citi Chief Representative, Citi Orient Securities. “The key is to understand and embrace new approaches to infrastructure and devise enabling financing solutions that will benefit each city according to its specific needs and economic situation.”

The scaling up of climate finance is an iterative process that requires national governments to create conducive strategies, policies, and regulatory frameworks to allow public-private collaborations.

Underscoring the importance of partnerships, Mr. Martin Powell, Head of Urban Development at Siemens Global Center of Competence for Cities, said: “This joint report between C40, Citi and Siemens, provides a spring board for urgently-needed financing solutions and captures the synergistic efforts of the most innovative climate actions taken by cities around the world. Siemens has been instrumental in driving successful infrastructure projects around the world by providing business-to-business financial solutions and intelligent infrastructure to cities.”

Singapore Remains Most Attractive Country for Infrastructure Investment

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singapore-431421_960_720Singapore, with its stable political situation, secure business environment and strong growth potential, remains the most attractive market for infrastructure investors, according to Arcadis, a global design and consultancy firm.

Singapore has retained its position as the world’s most attractive market for the third edition of the Global Infrastructure Investment Index. The report highlights the most dynamic and attractive markets for infrastructure investment worldwide.

Singapore ranked consistently highly across business, risk, infrastructure and financial indicators, and despite a slightly lower score for economic factors, it maintains a strong overall economic environment. Whilst most projects have traditionally been publicly funded, Singapore is seeking to develop involvement from private institutional investors. Work is underway in the city-state to improve understanding of infrastructure as an asset class to make it more attractive to investors, part of which includes the development of new benchmarking tools.

Currently, Singapore invests around 5 percent of its GDP on infrastructure, equivalent to US$20 billion in 2015, and this continues to rise. By 2020, Singapore aims to invest 6 percent of GDP, the equivalent of US$30 billion, which makes the market even more attractive for investment. Priority schemes are planned in healthcare and transport, including the expansion of Changi Airport through the construction of a fifth terminal. Previous expansion of the airport, which involved construction of Terminal 4, saw Arcadis acting as lead surveyor.

Elsewhere in Asia, Malaysia rose in the ranking to fifth place. Its strong economic performance and continued long-term investment in infrastructure, such as the capital’s metro system, have made the market attractive for investment. However, in the short term, investment is threatened by a number of risks, including its currency depreciation against the dollar and a high-profile corruption scandal that has delayed some projects.

In terms of economic score, China ranks first among the 41 countries analysed, yet its less attractive business conditions and higher risk environment keep it ranked at number 17 in the index.

The top ten most attractive countries for long-term infrastructure investment in 2016 are:

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The rankings for Asia Pacific countries are:

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Graham Kean, Head of Client Development at Arcadis Asia, said: “The index gives us valuable insights into how long-term political and economic stability leads to greater investment, so it is no surprise that Singapore remains at the top of the table. In the region as a whole, there is clearly a lot of social and public need for new infrastructure. There are a whole host of project ideas and plans out there, but they are not investible or bankable enough, which is the basic problem. The key to unlocking investments in the region hinges on making the projects bankable, an area which we have been supporting.”

Kean added, “We have already seen Asia-based investors taking positions globally as infrastructure becomes an increasingly popular asset class for private sector investors, particularly in times of increased risk and uncertainty. Income streams are relatively more stable and will be around for 30 years or more, the sort of timeframe some investors are increasingly drawn to. Short-term impacts can also create investment opportunities, such as a change of government or currency devaluation and these need to be weighed with the underpinning long-term situation.”

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