As Singapore works to overcome Covid-19, another burning existential crisis looms — climate change.
In the last few months alone, Singapore has broken at least two weather records. It faced its driest February since 2014 and its highest daily rainfall for April since 1980. The latter triggered flash floods in several parts of the island.
Confronted by worsening climate change, investors around the world are pivoting towards a focus on environmental, social and governance (ESG) factors.
In Singapore, the Government is leading the charge with the Singapore Green Plan 2030. Launched in February, the whole-of-nation plan charts the country’s path towards a more sustainable future over the next decade. A key pillar of this national agenda is to build a green economy with an array of initiatives and targets in green finance, most notably to transform Singapore into a green finance hub for the region.
This move builds on the foundations of the…