ProjectEco
Industry Analysis
Trend Analysis
6.7
8.3
Singapore
National
The general awareness of environmental issues among Singaporeans is noteworthy, where Singaporeans, on average (Gen Z + millennial), scored an impressive 8.3 in terms of their awareness of environmental issues, surpassing the national average of 6.7.
In accordance with SGX regulations, issuers are now required to incorporate a climate report in conjunction with their annual report. This would serve as an initial measure to enhance issuers' readiness for reporting. Furthermore, these standards aim to assist issuers in preparing consistent and informative data for market participants.
In this case, SGX ‘forces' the issuer’s employees to learn about sustainability, the impacts of their actions towards sustainability and nevertheless the reporting standards. Furthermore, this would also impact the sustainable investing sector where investors may learn more about sustainable finance.
SGX
Seedly is a community platform where individuals can crowdsource information from peers before making a financial decision. This would be an advantage as it is very convenient to obtain unbiased information. Individuals have the option to post questions or browse through the questions and replies that have been posted by others. However, the information provided by peers may not be as reliable as those provided by the government. Overall, Seedly allows individuals to learn more about sustainable finance in their own time in their own comfort.
Seedly
Led by the Ministry of Sustainability and the Environment, Go Green SG is a nationwide movement to mobilise the community to collectively work towards a sustainable future for Singapore. It encompasses a range of free sustainability-related events and activities organised by our People, Public and Private (3P) partners. For instance, this year, Go Green SG has collaborated with Singapore Tourism Board where they provide a myriad of exclusive learning journeys, events, workshops, school and youth activities, promotions and green challenges
Go Green SG
Sources of Sustainability Education
While sustainability is a rising concern in today’s context, there is a lack of providers in sustainable learning materials. Even Singapore’s national financial education programme, MoneySense, is yet to be involved in the new uprising concern of sustainability. Although sustainability has been around for a long time, it has just been brought to the attention of individuals a few years back. Although there are a few providers offering sustainable education, they often come with a cost. Consequently, the availability of sustainability education providers remains limited.
12%
93%
FIs, I need better information!
Sustainable
investment
Moreover, alongside the prevalence of sustainability, there has been a notable increase in awareness regarding sustainable investments. According to UOB Asean Consumer Sentiment, there has been a 12% rise from 2021 to 2022 in the number of Singaporeans expressing interest in learning more about sustainable investment.
Additionally, the study also showed that 93% of the respondents suggested that financial institutions should provide better information on the benefits of sustainable investing.
However, there is a significant difference when considering different age groups, as 45% of Generation Z individuals claim to be highly conscious of environmental impacts, in stark contrast to the 18% of Baby Boomers who express similar levels of awareness according to a survey done by the French Chamber of Singapore. Hence, this shows that there is an increasing need to address the issue on sustainability.
This is well supported by the UOB ASEAN study 2021, where it was found that Gen Z consumers (aged 18 to 23) and millennials (aged 24 to 39) are driving this trend towards a greener future.
I care!
18%
Baby Boomers
45%
Gen Z
Moving on ...
Furthermore, according to research conducted by SEC Newgate, there was an observed increase in the percentage of Singaporeans who rated their interest in ESG matters at seven or higher out of 10, climbing from 58% in 2022 to 64% in 2023.
2022
58%
2023
64%
SG Green Plan 2030
Green Plan 2030 is a nationwide initiative aimed at promoting Singapore's commitment to sustainable development. It aims to enhance Singapore's adherence to the UN's 2030 Sustainable Development Agenda and the Paris Agreement, while also positioning the nation to attain its long-term goal of achieving net-zero emissions by 2050.
Zero Waste Singapore
The inaugural Zero Waste Master Plan involves adopting a circular economy, which means finding smarter ways to use and manage waste. The Masterplan also has a new goal which is to reduce the daily waste sent to Semakau Landfill by 30% by 2030. This reduction will help the landfill last even longer, pushing its lifespan beyond 2035. The overarching aim is to cultivate a greener and more responsible approach to resource production and utilisation in Singapore.
DBS Bank sustainability
As the first Singaporean bank to join the Net-Zero Banking Alliance (NZBA), DBS aims to achieve a net-zero future by 2050 or earlier. Furthermore, DBS successfully attained carbon neutrality in its operations by the close of 2022. DBS channels its commitments through two primary avenues: corporate solutions and sustainable investing.
Sands ECO360
Sands ECO360 is MBS’s global sustainability program that guides their commitment to minimising environmental impact and promoting sustainable practices. Some of their strategies would include low-carbon transition, water stewardship, sourcing and many others.
This is the space to introduce the Project section. Give a brief overview of the types of projects featured below.
