Singapore firms expected to show net-zero progress under revised standards, instead of just set targets
They will be assessed on a ‘best-effort’ basis to account for constraints, but this raises greenwashing concerns
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[SINGAPORE] A major overhaul of the world’s most widely recognised corporate net-zero framework is expected to put Singapore companies under greater pressure to demonstrate how they will deliver on their climate commitments.
Under the revised standard from the Science Based Targets initiative (SBTi), companies will no longer be judged primarily on their ability to set ambitious climate targets and secure validation.
Instead, they will increasingly be expected to show that they are making tangible progress towards those goals through implementation, governance and real-world decarbonisation efforts, sustainability professionals told The Business Times.
