Stakeholders are taking action, and regulators are stepping in as well, they add.
How should Singapore’s property sector navigate sustainability, and are Singapore’s regulator and bourse doing enough to encourage decarbonisation? In a special commentary, OCBC Credit Research analysts offer a snapshot of Singapore’s status on green buildings, green financing, strategies and disclosures.
Property is a major contributor to emissions. “The buildings and construction sector accounted for 39% of carbon dioxide emissions globally in 2018, according to the International Energy Agency, mainly due to building materials and energy generated to power buildings,” write OCBC’s Wong Hong Wei, Andrew Wong, Ezien Hoo, Chin Meng Tee and Ong Shu Yi in a Jan 19 note. “Due to the sector’s outsized impact, regulators, investors, tenants and even homebuyers have begun to react, which results in a shifting landscape for the property development sector.”
