As the dust settles months after the landmark COP29 conference held in November at Baku, Azerbaijan, one key outcome stands out – many reports have hailed the ambitious new global climate finance goal as a “breakthrough agreement”. Formalised under the New Collective Quantified Goal (NCQG) on climate finance, parties to the Paris Agreement have committed […]
Sustainability has become a ubiquitous buzzword in today’s business environment, with companies and brands of all sizes eager to showcase their eco-consciousness through environmental claims and strategies. However, as more businesses jump on the sustainability bandwagon, the term risks losing its impact, watered down by overused claims and vague commitments. The reality is that simply […]
Did you know that Singapore is the first country in Southeast Asia to introduce a carbon tax? This tax is imposed on greenhouse gases (GHGs) emitted during the production of goods and services. The tax is designed to make emitters internalise the external costs associated with these emissions – such as damage to crops, healthcare […]
In September 2022, DBS became the first bank in Singapore and Southeast Asia to announce a commitment to achieve net-zero emissions by 2050. A month later, OCBC announced that it is developing a systematic plan to achieve net zero by 2050. A week before the start of COP27, UOB announced sectoral plans[1] to reach net […]
In our previous ESG article, we discussed the implementation timeline for mandatory climate-related disclosures in Singapore, aligned with the standards developed by the International Sustainability Standards Board (ISSB) for both listed and non-listed companies. In this article, we delve deeper into the ISSB standards and explore the driving force behind sustainability-related financial disclosures. A unified […]
In February 2024, Singapore’s Second Minister for Finance Chee Hong Tat confirmed that large non-listed companies – defined as those with an annual revenue of at least S$1 billion and total assets of at least S$500 million – will be required to make climate-related disclosures (CRD) aligned with the standards developed by the International Sustainability […]
In our previous ESG article, we highlighted that as Environmental, Social, and Governance (ESG) efforts transition from being a choice to being a necessity, companies will find themselves compelled not only to intensify their ESG efforts, but also to enhance their communication strategies. While many businesses have initiated various ESG actions to align themselves with […]
The Economics of Mutuality, a school of thought and business model developed by Mars Inc. and Oxford University’s Saïd Business School, posits that companies must consider their impact on society and the environment to thrive in the long run. Our ESG Monitor research reinforces this view, with 76% of Singaporeans attaching importance to companies taking […]
In ESG Monitor 2022, Singapore took the top spot for having the highest levels of awareness and knowledge of the term “ESG”. 72% of Singaporean participants were aware of the term and 31% claimed to have a good understanding without being prompted. These numbers compared favourably to the global results of 46% and 41% respectively. […]
