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As sustainability practitioners, we work with clients to strengthen their in-house sustainability practices—whether through advisory services, assurance engagements, or by supporting their sustainability reporting requirements.
One common concern raised by clients is this:
"With some major economies back-peddling on their climate commitments, why should we, as a Singapore company, continue to pay attention to sustainability reporting?"
This is a valid and timely question—one that deserves careful consideration. Let us explore why maintaining a strong focus on sustainability remains not only relevant but essential.
The Long-Term Relationship Between Singapore and Sustainability
Let’s first reflect on some key initiatives Singapore has taken for a sustainable future:
- Singapore Green Plan 2030: Building on five key pillars – City in Nature, Energy Reset, Sustainable Living, Green Economy and Resilient Future.
- Park Connector Network: Increasing interconnectedness of green spaces, started with the Kallang Park Connector in 1995.
- The '30 by 30' goal: Advancing local food production and strengthening the country’s food security, introduced in 2019.
- Singapore Green Building Masterplan: Targeting to have 80% of buildings to be certified under the Building Construction Authority (BCA) Green Mark scheme by 2030.
- Singapore Green Bond Framework (SGBF): Aiming to raise funds for sustainable infrastructure projects with developing a green financing and carbon trading hub, launched in 2022.
In addition, for clients listed on the Singapore Stock Exchange (SGX), climate reporting and external limited assurance will soon be mandatory. With financial support schemes such as the Enterprise Sustainability Programme, available businesses can tap into these resources to kickstart their reporting journey. RSM Singapore has partnered with Enterprise Singapore on the SME Sustainability Reporting Programme (SME SRP) to help non-listed small and medium-sized enterprises (SMEs) in Singapore in preparing their first sustainability reports.
Taking a pragmatic approach, Singapore’s forward-looking policies since the 20th century clearly demonstrate the government’s commitment to sustainability and resilience for the country. This vision extends beyond national borders, with Singapore actively supporting global climate efforts through its commitment to the Paris Agreement. Furthermore, allocating budget resources to address climate change further underscores the priority placed on this issue.
The Climate Crisis is Real
So why does Singapore remain committed to the Paris Agreement? Because climate change is no longer a distant threat—it’s already here.
The past decade has been the warmest on record, and, for the first time, the global mean temperature rise last year exceeded the 1.5 °C threshold, as confirmed by the World Meteorological Organisation. What does that really mean? If you’re picturing the LA wildfires, melting Arctic sea ice, or coral bleaching, think again. The reality is far more urgent, far closer to home.
Think about the recent unexpected monsoon surge in late March. Extreme weather events like this are becoming more frequent and more intense. One day, we may not even have a separate “rainy season.” Predicting when intense rainfalls will hit might become impossible; you won’t be able to plan when to hang your laundry out in the sunshine to dry. There will come a time when our well-built drainage system becomes overwhelmed. There will come a time when air conditioners set to 23 °C won’t be enough to cool us down.
The effects of climate change are already being felt—and without timely and decisive action, they will only intensify.
This is why sustainability must be viewed not as a luxury, but as an essential priority. It represents a long-term commitment that requires collective responsibility and immediate attention to safeguard our future.
Leaving a Legacy
Will shifts in global commitments affect Singapore’s approach to climate action? Unlikely. Even if targets are adjusted, our responsibility to care for the planet remains unchanged.
Some may argue that Singapore’s efforts will not move the needle globally, given our small city-state size. But as Prime Minister Lawrence Wong reminds us, “We want to do our part in the global effort to address the global climate crisis, and steward our resources for future generations.”
Just as our forebears fought against colonisation, cultivated the land, and built the nation we are fortunate to live in today, it is now our responsibility to rise to the challenge. We are in the midst of a climate crisis, and it is up to us to ensure that future generations inherit a world worth living in.
