In a move toward a sustainable future, Singapore announced in October last year that it would raise its national climate target to achieve net-zero emissions by 2050, and reduce emissions to around 60 million tonnes of carbon dioxide equivalent (MtCO2e) in 2030. The country accounts for around 0.11 per cent of global carbon emissions, according to the National Climate Change Secretariat, and it has taken significant efforts to reduce emissions as part of the global fight against climate change.
“Businesses play a vital role in addressing climate change, as industry accounts for the bulk of carbon emissions”, says R Raghunathan, CEO of WWFSingapore (World Wide Fund for Nature Singapore). Financial institutions, in particular, are “uniquely positioned as they are exposed both to risks through their lending and investment activities, and also to opportunities by being in a position to allocate capital to more sustainable opportunities”.
This story is from the April 2023 edition of Tatler Singapore.
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This story is from the April 2023 edition of Tatler Singapore.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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