Surviving the Sustainability Winter - Fang Eu-Lin (Partner, PwC Singapore)

In Episode 6 of Season 4 of the Carbon Exposure Podcast, we zoom out from carbon markets to the broader world of corporate sustainability and ESG reporting. Our guest is Fang Eu-Lin, Sustainability and Climate Change Practice Leader at PwC Singapore and one of Asia's leading voices on sustainability reporting, climate risk and corporate transition strategy.Eu-Lin started her career as a chartered accountant and auditor, then pivoted into sustainability in 2016 when SGX rolled out reporting requirements for Singapore-listed companies. Ten years later, she sits at the intersection of climate science, financial reporting, and corporate strategy — exactly the seat that determines whether sustainability ambitions translate into measurable action.This conversation moves through the evolution of climate and ESG reporting: the end of purism and the rise of pragmatism, how the ISSB, GHG Protocol, and SBTi are being revised, why CSOs and CFOs are increasingly co-authoring transition plans, and how Singapore's regulatory leadership offers a template for the rest of Asia.She also shares her framing for the current moment — a "sustainability winter" — and three animal archetypes (snowy owl, squirrel, snow leopard) that professionals can channel to thrive through it.In this episode, we cover:- Eu-Lin's journey from chartered accountant to climate reporting leader- Why sustainability requires systems thinking and deep technical grounding- Whether climate is being deprioritized — or simply outranked by tariffs and AI- The shift from sustainability purism to corporate pragmatism- How the ISSB, GHG Protocol, and SBTi are being revised- Why CFOs and CSOs need to co-author climate transition plans- Singapore's carbon tax recycling and capacity-building model- The reporting timeline pushback and the quality vs speed trade-off- Climate scenario analysis and the limits of available research- Physical risk vs transition risk for corporates- The Scope 3 debate: spend-based vs activity-based measurement- Why the Singapore Emission Factor Registry matters for accurate disclosure- How to lead through the "sustainability winter"If you work in sustainability reporting, climate finance, ESG, corporate strategy, or board governance, this is a must-listen episode.Chapters[00:00] Intro[02:32] From Accounting to Sustainability[05:17] Singapore's 2016 Reporting Pivot[08:18] Syzygy: Aligning Skill, Passion & Value[13:34] Is Climate Falling Off the Agenda?[15:12] The Shift From Purism to Pragmatism[17:25] ISSB, GHG Protocol & SBTi in Revision[19:05] CFO + CSO Collaboration on Transition Plans[23:33] Singapore's Carbon Tax Model[27:20] Quality vs Speed in Climate Reporting[29:12] Climate Scenario Analysis & Risk[33:09] Scope 3: Love It or Hate It?[36:21] The Singapore Emission Factor Registry[37:51] Outlook to 2030[39:30] Snowy Owls & The Sustainability Winter#SustainabilityReporting #ESG #ClimateReporting #ClimateFinance #ISSB #ScopeThree #Singapore #CarbonExposurePodcast