Tying executive pay to ESG: Singapore listcos see strategic role
Environmental, social and governance-linked pay can boost sustainability efforts, but metrics must be carefully designed
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AT LOCAL telco Singtel, top executives’ remuneration is not just based on hard financial metrics. Tackling issues such as climate change, digital inclusion and talent diversity also play a part in determining how they are compensated.
Singtel is part of a small but notable group of Singapore-listed companies that incorporate ESG – or environmental, social and governance – key performance indicators (KPIs) in their top executives’ remuneration.
The company has used ESG-related KPIs in the incentive plans of its top executives – including chief executive Yuen Kuan Moon and management committee members – since its strategic reset in mid-2021.
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