The ESG dilemma: Balancing real progress with investor scepticism 

THE growing prominence of environmental, social and governance (ESG) considerations in Singapore’s corporate landscape has been met with both enthusiasm and scepticism. While the government has implemented various initiatives to promote sustainable business practices, there has been some pushback against the ESG agenda, driven by concerns over operational challenges, measurement difficulties and the risk of greenwashing.

A recent landmark case at the International Tribunal for the Law of the Sea (Itlos) on May 21, 2024, has brought these issues to the forefront. Itlos classified greenhouse gas (GHG) emissions as a form of marine pollution under the United Nations Convention on the Law of the Sea (Unclos).

This is a groundbreaking recognition linking atmospheric pollution directly to marine health​.