“Do you want to struggle with stranded assets 10, 20 years later, or do you want to lead in the process of renewables? That’s the kind of simple choices we have,” she adds.
Singapore has a “once-in-a-lifetime opportunity” to become a hub for sustainability reporting and assurance, and the government is preparing the local economy to seize this opportunity, says Minister for Sustainability and the Environment Grace Fu.
“That’s the reason why we’re putting in carbon taxes. That’s the reason why we’re putting in [sustainability] reporting requirements. That’s the reason why MAS is really breathing down the necks of our banks,” says Fu at a March 12 event jointly organised by the Singapore Business Federation (SBF) and Institute of Singapore Chartered Accountants (ISCA).
