“While Singapore’s approach to environmental sustainability may not be the most perfect nor the most ambitious, we think there is merit in highlighting the various ways in which the Singapore government is striking a balance with, partnering and galvanising the private sector to decarbonise, without compromising on economic growth,” adds Lim.
Deputy Prime Minister and Finance Minister Lawrence Wong emphasised in his Budget 2024 speech that Singapore will “make no apology for pursuing growth”.
While Wong acknowledged that embracing sustainability may entail additional costs for businesses, going green can also be a competitive advantage, and it is important that local companies are “sustainability-ready”, says OCBC Investment Research analyst Ada Lim.
