Sustainability must be top-led and embedded across organisation, say panellists at BT's inaugural Sustainability Impact Dialogue

Companies that fail to do so may risk falling behind, say the speakers. Low Youjin reports

- Low Youjin

Sustainability should remain a core business strategy despite geopolitical uncertainty, but it needs to be led from the top and embedded across the organisation, said panellists at a dialogue with corporate C-suite leaders on Tuesday (July 22).

And those that fail to adapt risk losing market access and falling behind on competitiveness, they warned at the inaugural Sustainability Impact Dialogue jointly organised by The Business Times and UOB.

The speakers were Dr Amy Khor, former senior minister of state for sustainability and the environment, and Eric Lim, chief sustainability officer at UOB. The closed-door event was moderated by BT editor Chen Huifen.

Held at SPH Media's Studio+65 and themed "Navigating Sustainability Forward: A Growth Agenda for Enterprises", the session explored how businesses are moving beyond compliance to position sustainability as a driver of innovation, resilience and brand value.

COMMITMENT AND COMPETITIVENESS

Dr Khor acknowledged that there has been "some faltering, some rolling back" of decarbonisation efforts globally. Still, she stressed that Singapore remains committed to its net-zero goal by 2050.

"Climate action really is not an option, but a necessity for us - particularly when we are so vulnerable," she said, citing Singapore's exposure to rising sea levels.

Around 30 per cent of the country's land sits less than 5m above sea level. The Third National Climate Change Study projects that sea levels could rise by up to 1.15m by 2100, and as much as 2m by 2150.

Beyond being an existential issue, Dr Khor noted an economic imperative: an "irreversible" global shift towards low-carbon economies.

She said companies must decarbonise to remain export-competitive, especially in markets such as the European Union, where reducing and disclosing carbon emissions data are becoming prerequisites.