That said, slightly more than half of the Singaporean respondents have a process for identifying, assessing and managing climate-related risks and opportunities.
Lack of climate risk expertise and data are main obstacles to climate financial disclosure in Singapore and the Philippines, according to a recent survey conducted by global advisory, broking and solutions firm WTW.
Among Singaporean companies surveyed, only 34% of firms have disclosed information on their board’s oversight of climate-related risks and opportunities and their management’s role in assessing and managing climate risk, while 43% have or are preparing to disclose information on their management’s role in assessing and managing climate-related risks and opportunities.
