A Q&A with ACT's new Managing Director Asia Pacific, Federico Di Credico, about the opening of the new Singapore office
ACT is opening a new office in Singapore. To capture the strategy and vision driving this expansion, we sat down for a Q&A with Federico DiCredico, who will serve as Managing Director Asia Pacific.
ACT already has offices in Amsterdam, Paris, New York City, and Shanghai. Why launch a second Asian office now?
For many years, we saw a lot of single-country sustainability efforts, but that started changing with the Paris Agreement and then the Glasgow Climate Pact. And shortly after Glasgow, the 21 member countries of the Asia-Pacific Economic Cooperation (APEC) met separately and pledged to address climate change and regional environmental challenges. There is new momentum in this region to tackle sustainability.
So we’re at a moment today in which we have not only the explicit understanding that countries can and should share their frameworks for achieving sustainability goals but also that there will be international exchange as countries embrace every option available for doing so.
Corporate entities have a huge role to play as leaders of both compliance-driven and voluntary climate action. In today’s world of globally interlinked supply chains that move incredibly fast, it’s more important than ever that service providers like ACT be on the ground to provide the timely guidance corporates need to achieve their goals.
From day one, ACT’s work has been on a global scale – and by nature, it has to be. To be effective, the transition to more efficient energy sources must be global.
At the same time, for any individual business looking to achieve sustainability goals, much of the necessary work it must undertake is local in the sense that it has to happen within an organization’s existing professional and regional culture. Our goal is to bring our extensive knowledge about market-based sustainability solutions to the dynamic and motivated businesses in Singapore and the larger region.
Our Singapore office positions us to do that more effectively. It will allow us to better understand and meet the needs of our Asia-based clients, as well as other Asian companies looking to achieve sustainability goals.
What's more, having an office in Singapore makes it possible to tap into the city’s incredible local talent pool.
So ACT will be staffing the Singapore office with local talent?
Yes. In fact, the quality of the local talent is part of what excites us about expanding here. We pride ourselves on hiring bright, passionate changemakers, and there is no shortage of those in Singapore. We plan to hire Singaporean talent at every level, right up to senior management.
And you will be the Managing Director?
Yes. What I’m bringing is the business knowhow that will be essential to launch our efforts. I joined ACT in 2012 and was one of the first non-founding employees on the team. In my time with the organization, I led the launch of its financial solutions segment, which was incorporated in late 2017 and fully operational by 2018. So I’ve participated in starting this kind of business twice before and am deeply familiar with what it takes to pioneer a new venture in this space.
We will seek local leadership to help us navigate the financial, legal, and regulatory components of our business, because so much of our work requires an intimate knowledge of legislative activity and regulatory requirements. We also plan to seek local talent for many non-leadership positions. The success of the Singapore office will depend in no small part on the local and regional employees we hire.
What is your vision for the Singapore office?
One thing I’m excited about is helping to establish an ecosystem of sustainability.
I’ve been in conversation with local leaders about how we might tie our market work to existing research and how we might tap into the regional talent pipeline.
I’ve spoken with local government bodies about how to make the sustainability ecosystem in Singapore successful. The experience ACT brings is invaluable, but it’s only one piece of the puzzle. That’s one reason this new location is so exciting for us: we know that what we learn here will empower us to serve every one of our current and future clients better.
How can people get more information about ACT’s Singapore office?