Industry Perspectives: Opportunities in the Green Economy

As global markets increasingly shift towards low-carbon production, Brunei’s industries are facing growing pressure to decarbonise while remaining competitive and capturing new economic opportunities. Moderated by Allen Lai, Managing Director of Confer Sdn Bhd, the second panel discussion featured Dr Harri Kiiski of Brunei Fertilizer Industries (BFI), Patrick Lau of Brunei Methanol Company (BMC), Leonard Lee of Baiduri Bank and Dr Ngiam Shi Song of Hibiscus EP (Brunei) B.V. The discussion explored how industries are adapting to the transition towards a greener economy, while highlighting opportunities in renewable energy, green financing, industrial sustainability and emerging low-carbon industries.

Key Takeaways

• Sustainability is increasingly becoming a commercially viable opportunity across renewable energy, green financing and emerging low-carbon industries.

• Brunei has strong potential to leverage its industrial strengths to support green growth and circular economy opportunities.

• Long-term success will depend on stronger collaboration, sustainability awareness and practical implementation.

  
  

Sustainability as a Commercial Opportunity

A major theme throughout the discussion was that sustainability is no longer viewed purely as corporate social responsibility (CSR), but increasingly as a driver of competitiveness, resilience and long-term business value. Speakers highlighted growing opportunities in rooftop solar, recycling, waste management, biofuels and green financing, while banks shared that they are increasingly ready to finance commercially viable green projects.

Baiduri Bank also highlighted its support for solar developments in Brunei, including financing linked to Hibiscus Petroleum projects and rooftop solar financing schemes for homeowners, reflecting growing momentum in sustainable financing and private sector participation.

Industrial Transformation and Green Growth

The panel also explored how Brunei can leverage its industrial strengths while developing new low-carbon industries. Patrick Lau stressed that sustainability should extend beyond emissions reduction to include long-term economic returns and broader ESG value creation, while industrial clustering was highlighted as a practical strategy to improve efficiency and scalability.

Drawing on Finland’s experience, Dr Harri noted that around 96% of the country’s electricity grid is powered by renewable energy, allowing industries greater access to clean energy while supporting long-term competitiveness.

Emerging opportunities discussed included:

• green methanol,

• biogas,

• waste-to-fertiliser technologies,

• insect protein production,

• and bioplastics from palm oil waste.

Eric Chu from Terbit (Hong Kong) Limited described Brunei as “a haven” for green economy opportunities, particularly in developing export-oriented circular economy industries. The panel also referenced Hibiscus Petroleum’s solar developments in Brunei as examples of private-sector investment supporting the country’s energy transition efforts.

Sustainability Culture and Long-Term Resilience

Beyond industry and financing, the panel repeatedly emphasised the importance of behavioural change, education and sustainability awareness. Dr Ngiam Shi Song stressed that sustainability becomes successful when it evolves into “a way of life, not just a subject,” while speakers also discussed how small everyday actions can collectively contribute towards larger environmental outcomes.

Leonard Lee also highlighted growing interest in Sustainability-Linked Loans (SLLs), where financing rates are tied to sustainability performance targets such as energy efficiency and emissions reduction. The discussion also touched on longer-term considerations, including fuel subsidies and the gradual transition towards renewable energy and electric vehicles.

Collaboration and the Road Ahead

The panel concluded on an optimistic note, highlighting that Brunei is not starting from zero in its sustainability journey. Speakers noted that the January visit to the UK provided an important opportunity for Brunei to showcase its progress in sustainability and energy transition efforts, while strengthening collaboration to accelerate future green economy ambitions.

Overall, the discussion reinforced the view that sustainability is becoming both an economic necessity and a commercial opportunity, with future progress depending on stronger collaboration, investment and practical implementation across industries, finance and the wider community.

Further Reading

• Baiduri Bank Introduces Brunei’s First Solar Panel Financing Scheme

• Baiduri Bank Supports Second Solar Financing Project in Brunei’s Energy Transition

• Energy Transition and Green Growth Opportunities

• Hibiscus Begins Construction of 12MWp Solar Plant in Brunei

• Is Green Methanol the Clean Fuel the World Is Forgetting?

• Sungai Bera Townhall on Energy Efficiency and Solar Integration

• What is Carbon Capture and Storage (CCS)?