Green players eyeing government boosts for blended finance, carbon tax and SME support

DECARBONISING the economy and bringing about rapid infrastructural change to support it are said to be key in Singapore’s efforts to transition to a sustainable economic model. This year’s Budget announcement will be closely watched to see if it contains the necessary drivers to bring this about.

Among the moves deemed necessary: more initiatives to boost blended financing, more aggressive carbon taxation, and a change in mindset among businesses, said thought leaders and executives who manage sustainability concerns for their businesses.

“Bringing about an effective transition to a sustainable, low-carbon world requires greening the entire economy, and not merely growing the green economy,” said Mike Ng, head of the sustainability office, global wholesale banking, at OCBC.