Commentary

S'pore's transition towards a sustainable economy requires a collective effort

With more consumers, investors going green, companies risk losing out if they aim too low

Solar panels installed by energy company Sunseap on HDB rooftops. Solar panel deployment has picked up in recent years and several local firms and multinationals plan to be part of Singapore's renewable energy value chain.
Solar panels installed by energy company Sunseap on HDB rooftops. Solar panel deployment has picked up in recent years and several local firms and multinationals plan to be part of Singapore's renewable energy value chain.PHOTO: SUNSEAP

Policymakers worldwide have woken up to the costs that climate change will inflict and are trying to smoothen the transition to a green economy.

Environmental scientists believe 2020 to 2030 is the decisive decade for climate change action. But there is another factor that could push businesses into changing their ways even more urgently - consumers and investors may shun them if they do not.

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A version of this article appeared in the print edition of The Straits Times on June 12, 2021, with the headline 'S'pore's transition towards a sustainable economy requires a collective effort'. Subscribe