SINGAPORE - Singapore's mid-sized firms lag behind their global peers in adopting sustainable business policies and practices.
This is according to a HSBC report put out on Monday (Jan 22), which showed that more than half of respondents from Singapore - or 54 per cent - expect sustainable business practices to improve profitability amid customer demand for more sustainable products, trailing the 59 per cent global average.
A quarter of these Singapore firms polled by the bank are prioritising investment to become a more sustainable business, again lagging behind the global average of 27 per cent.
The HSBC report reflected views from more than 1,400 "decision-makers" across 14 economies - made up of at least 100 individuals in each economy, including Singapore. They come from companies that have anywhere between 200 and 2,000 employees, and a turnover of between US$50 million (S$66 million) and US$500 million.