2024 BAFG Awards – Catching up with our Past Winners #2

Hearing from Dipa Swaminathan and Rasi Thirumalai  – Founder and at ItsRainingRaincoats

 

Can you tell us about your experience winning this award and what it means for your business?

We are incredibly honoured and grateful to have been awarded INSEAD’s BAFG Award for Social Enterprise.

The award from INSEAD underscores the value of our work in fostering a positive force for change. It not only brings increased visibility to ItsRainingRaincoats but also amplifies our voice in advocating for social causes. This recognition allows us to reach a broader audience, attracting potential partners, donors, and collaborators who share our passion for making a meaningful difference in Singapore.

Moreover, the INSEAD award serves as a source of inspiration for our team, boosting morale and instilling a sense of pride in the impactful work we do. The validation from such a prestigious institution encourages us to continue pushing boundaries and exploring innovative solutions to address the challenges we are passionate about.

As we reflect on this achievement, we recognize that the award is not just a recognition of past accomplishments but a catalyst for future growth and impact. ItsRainingRaincoats remains committed to its mission, and we are excited about the possibilities that lie ahead as we leverage this recognition to expand our reach and make an even greater difference in the lives of those we aim to serve.

Can you discuss any unique or innovative approaches your business has taken to be a force for good?

One notable initiative that highlights our dedication is the introduction of our first Youth Hackathon.

The Youth Hackathon is IRR’s endeavour that not only engages young minds but also involves them directly in our journey to create positive social impact. By providing a platform for the youth to actively contribute to our mission, we are nurturing the positive change-makers of tomorrow. This initiative empowers the younger generation, encouraging them to think creatively, problem-solve, and actively participate in addressing social challenges.

Through the Youth Hackathon, we aim to instil a sense of social responsibility and activism in the participants. We believe that by involving the youth in our endeavours, we are sowing the seeds for a future generation that is not only empathetic but also actively contributes to social integration in Singapore.
In addition to our youth-focused initiatives, ItsRainingRaincoats is dedicated to strengthening our charity through digitalization. Embracing technology allows us to enhance our efficiency, reach, and impact. By leveraging digital tools, we can streamline our operations, reach a wider audience, and improve the overall effectiveness of our programs.
The digitisation efforts encompass various aspects, including online fundraising campaigns, virtual awareness programs, and the use of social media to amplify our message. This approach not only modernises our operations but also ensures that we stay connected with a diverse and global community of supporters.

These approaches not only make us a force for good today but also lay the foundation for a sustainable and impactful future for ItsRainingRaincoats.

Can you discuss any partnerships or collaborations your business has formed in order to have a greater positive impact?

We acknowledge the significance of collaborative partnerships in effecting meaningful change and actively seek to form alliances with individuals, businesses, and organisations that share our vision. One notable collaboration is our strategic partnership with Engineering Good, a non-profit dedicated to narrowing the digital divide by providing refurbished laptops to vulnerable communities and developing open-source assistive technology with disability groups.

Through this collaboration, we are actively supporting our beneficiaries’ aspirations for upskilling and continued education, crucial building blocks for enhancing their lives. Together, we are united in pursuing a common goal – addressing social challenges and making a tangible, positive impact on the lives of those we aim to serve.

Additionally, we have joined forces with Life Line Clothing, a textile recycling company committed to reducing textile waste. This partnership offers ItsRainingRaincoats a sustainable solution to handle unwanted donations. With this collaboration, we can sustain our recycling efforts in an environmentally responsible manner.

Our commitment to partnerships and collaborations is deeply ingrained in the essence of ItsRainingRaincoats. These alliances serve as a driving force behind our capacity to generate positive change, expand our influence, and establish meaningful connections with diverse stakeholders who share our passion for making a meaningful difference.

Catch-up with 2023 Winners – Interview series

Post #1 – Gao De Hui, CEO, SDTR MARINE PTE. LTD

Post #2 – Dipa Swaminathan and Rasi Thirumalai, Founder and Executive Director at ItsRainingRaincoats

Catch-up with 2022 Winners – Interview series

Post #1 – Michelle Woo, VP Venture Build, ENGIE Factory Asia Pacific (Corporate Winner)

Post #2 – Masami Soto, Founder of Buy One Give One – Empirics Asia

Post #3 – Gurpreet Singh, Chief Commercial Officer (CCO) at RightShip

2024 BAFG Awards – Catching up with our Past Winners #1

Hearing from Gao De Hui  – Chief Executive Officer (CEO) at SDTR MARINE PTE. LTD

Can you tell us about your experience winning this award and what it means for your business?

Winning the INSEAD Business as a Force for Good award was a profoundly gratifying experience for both myself and SDTR Marine. This prestigious recognition affirmed our commitment to sustainability and corporate social responsibility within the shipping industry. For us, the award symbolizes not just a milestone but a continuous journey towards integrating sustainable practices into every aspect of our business.
The award has encouraged us to stay steadfast in our vision and mission, reflecting our commitment to ESG (Environmental, Social, and Governance) initiatives. It underscores our role as a responsible player in the global shipping industry and motivates us to persist in our efforts to create a positive societal impact through our business operations.

Can you discuss any unique or innovative approaches your business has taken to be a force for good?

SDTR Marine has implemented several unique and innovative strategies to establish itself as a force for good in the maritime industry. Our foremost initiative is the ambitious goal of constructing a net-zero emission fleet by 2050. This endeavor is in line with the Paris Agreement and the International Maritime Organization’s (IMO) decarbonization targets. We are dedicated to continually upgrading and innovating our fleet to enhance energy efficiency and incorporate sustainable energy sources.

As one of global signatories supporting the Call to Action, an initiative spearheaded by the Getting to Zero Coalition with the backing of the Mission Possible Partnership, we are actively involved in a collective effort to revolutionize shipping. We employ energy-saving devices on our vessels and practice slow steaming to conserve energy. Moreover, we are constantly exploring advanced technologies like main engine diagnostic systems and the development of AI-based ship operation diagnostic systems. These systems integrate comprehensive data on weather, ocean currents, and optimized routes; utilizing AI to fine-tune engine speeds, fuel consumption, and vessel route selection, thereby boosting operational efficiency.

Our sustainability department is relentlessly working on designing vessels powered by methanol and ammonia as part of our ultimate goal to achieve a carbon-neutral fleet. Recently in Singapore, we have also experimented with biofuels as an alternative energy source. These efforts represent our ongoing pursuit of diverse paths to carbon reduction, showcasing our commitment to pioneering a sustainable future in maritime transport.

Can you discuss any partnerships or collaborations your business has formed in order to have a greater positive impact?

SDTR Marine firmly believes in the transformative power of partnerships and collaborations to enhance our impact on sustainability and social responsibility. Our strategic alliances have been pivotal in advancing innovative and sustainable practices within the maritime sector.

One significant collaboration was with the Shanghai Merchant Ship Design & Research Institute (SDARI). This partnership culminated in the award of an Approval in Principle (AIP) certificate from the American Bureau of Shipping (ABS) for the world’s first Ammonia Dual Fuel Kamsarmax Bulk Carrier. This achievement is a testament to our commitment to pioneering sustainable ship designs and reflects our dedication to environmental innovation​​.

Last year, we also collaborated with the China Classification Society (CCS) to jointly develop the first generation of ammonia duel fueled bulk carriers. This initiative represents a significant step towards realizing our vision of a greener maritime future. Additionally, we have partnered with the Norwegian classification society DNV on a carbon capture project, further exemplifying our proactive approach to addressing global environmental challenges.

Beyond these technical and innovative partnerships, we are deeply committed to community engagement. We actively organize initiatives like beach clean-ups and tree planting, involving our employees and their families. These activities are designed to foster a sense of sustainability consciousness and emphasize our dedication to environmental stewardship, extending well beyond our core business operations. Above community efforts are integral to our mission, highlighting our resolve to make a positive impact both within and outside the maritime industry.

Catch-up with 2023 Winners – Interview series

Post #1 – Gao De Hui, CEO, SDTR MARINE PTE. LTD

Catch-up with 2022 Winners – Interview series

Post #1 – Michelle Woo, VP Venture Build, ENGIE Factory Asia Pacific (Corporate Winner)

Post #2 – Masami Soto, Founder of Buy One Give One – Empirics Asia

Post #3 – Gurpreet Singh, Chief Commercial Officer (CCO) at RightShip