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Unlikely allies in Singapore’s sustainability journey: Finance and accounting

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Published Mon, May 16, 2022 · 04:59 PM
    • Beyond Singapore, global organisations are also asking financial accounting standards boards to provide rules on topics like accounting for renewable-energy certificates and carbon-offset credits.
    • Beyond Singapore, global organisations are also asking financial accounting standards boards to provide rules on topics like accounting for renewable-energy certificates and carbon-offset credits. Pixabay

    Victor Ng

    GREEN finance is an exciting area of growth in Singapore, accounting for almost half of the ASEAN green bond and loan market. 

    In its 2022 Budget, the Singapore government announced several measures aimed at elevating the country’s standing to become a leading carbon services hub in Asia. Some measures such as the broadbased carbon tax which was introduced in 2019 have helped enterprises reduce their greenhouse gas emissions. There is also the Green Plan that Singapore hopes to achieve by 2030. Such measures have prompted businesses to take Environmental, Social, and Governance (ESG) matters more seriously in their operations. 

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