17 May 2023
Allen & Gledhill Partners Adrian Ang and Elsa Chen contributed an article titled “ESG in Singapore: Trends and developments” to the IFC Review.
Recent global developments have highlighted the increasing significance of environmental, social and governance (“ESG”) considerations for organisations. Regulators, lenders, shareholders, investors and other stakeholders are increasingly demanding that companies deliver positive sustainability outcomes, accompanied by accurate and regular reporting. In this regard, financial institutions play a crucial role in reducing climate change and achieving ESG targets by catalysing capital flows to sustainable projects and by influencing changes in clients’ businesses through financial incentives. As a leading international financial centre in Asia, Singapore has committed to supporting Asia’s sustainable transition, and is actively promoting a robust sustainable finance ecosystem in Singapore to serve the region.
This article discusses the key regulatory frameworks and incentive schemes that have been adopted in Singapore to achieve this aim.