Leading decision-makers at the Cities: Possibilities 2025 – Singapore forum underscored the urgent need for integrated urban development approaches that combine technology, strong governance, and innovative financing to equip the Asia Pacific region in addressing its most pressing urban challenges.
Asia Pacific boasts the world’s largest urban population, which is projected to increase by 50 percent by 2050. Yet, it contends with inadequate housing, high traffic congestion, air pollution, and increased climate vulnerability, according to a United Nations ESCAP report.
Collaboration and digital inclusion:
Robert Opp, Chief Digital Officer, United Nations Development Programme (UNDP), emphasized that governments, businesses, and civil society must work collaboratively as the region becomes the center for urban transformation.
“This means co-creating solutions that reflect diverse needs and aspirations, ensuring no one is left behind in the digital transition. With the appropriate guardrails, we can reduce the risks of reinforcing biases and exacerbating inequalities,” he stated during his keynote address.
He highlighted UNDP’s approach of integrating technology with governance, finance, and behavioral change, citing the use of Artificial Intelligence (AI) for traffic management in Batumi, Georgia, and increasing citizen participation in urban planning in North Macedonia and Panama.
Governance fragmentation and investor risk:
Experts noted that finding the right solutions for the Asia Pacific region is a challenge, particularly due to governance structures. Dr Cheong Koon Hean, Chair of the Lee Kuan Yew Centre for Innovative Cities, observed that governance fragmentation poses a major hurdle for urban development and investors.
“Asian countries have very complex national, provincial and local arrangements, where responsibilities for land use, climate action and infrastructure overlap… This really creates a lot of uncertainty and perceived risks for investors,” she said, stressing the importance of long-term urban planning and policy consistency.
Energy efficiency and green finance:
The importance of energy efficiency in buildings was highlighted by Rasmus Grand Bjørnø, Deputy Head of Mission and Counsellor for the Royal Danish Embassy in Singapore. He noted that energy consumption from buildings is set to rise by 50 percent, with the Asian region facing a potential 2°C to 3°C temperature rise if no action is taken.
There’s great potential in energy codes for optimization of buildings. This includes insulation, active control systems, ambitious building codes, and being much more aware of the lifecycle of building materials,” he added, advocating for a holistic approach to city development and investment.
Jessica Cheam, Founder and CEO of Eco-Business, stated that achieving the Paris Agreement goals hinges on aligning national climate policies with urban development, noting a fundamental shift in how nations view the pivotal role of cities in delivering climate resilience and mitigation.
Quantifying risk:
Vinamra Srivastava, Chief Sustainability and Sustainable Investments Officer, CapitaLand Investment, remarked that while urbanization in Asia presents immense opportunities, capital often hesitates due to perceived risks.
“At CapitaLand Investment, we believe sustainability and profitability go hand-in-hand. Our Return on Sustainability framework quantifies how green investments can uplift asset value and mitigate climate risks,” he said, underscoring the need to align sustainability initiatives with measurable financial benefits.
Mark Fletcher, Head, Zurich Resilience Solutions, APAC, reinforced this, stating that quantifying climate risk is essential to guide decision-making. “When we measure exposure, vulnerabilities, and potential losses with real data, mitigation stops being abstract. It becomes a blueprint for adaptation,” he noted.
The forum, themed “From risk to resilience: Shaping Asia’s cities,” was organized by Eco-Business in strategic partnership with CapitaLand, Zurich Resilience Solutions, and UNDP, and convened 200 decision-makers from government, finance, industry, and academia.
