The UN Global Compact Network Singapore (UNGCNS) has launched its 4th Singapore Business Carbon Report at the Singapore Sustainability Academy. The report, themed “Emissions in Focus: Transparent Reporting, Tangible Results,” highlights significant progress in carbon emission management among Singaporean businesses. With 318 submissions from 227 companies, the report reveals that 74% of these businesses have successfully reduced either absolute emissions or emissions intensity, with 41% achieving reductions in both metrics.
The report comes as Singapore prepares for new regulations requiring listed companies to disclose Scope 1 and 2 greenhouse gas emissions by 2025. This regulatory shift underscores the importance of credible carbon disclosure, as emphasised by Dr Bicky Bhangu, President of UNGCNS, who stated, “This report is more than a publication — it is a call to action.”
The LowCarbonSG programme, initiated by UNGCNS in 2021, plays a pivotal role in helping companies measure and reduce greenhouse gas emissions. The programme’s success is evident, with over 80% of participants being small and medium enterprises (SMEs), demonstrating that smaller businesses are actively driving climate action.
The report also highlights the role of technology in advancing carbon management, with tools like the Carbon & Emissions Recording Tool (CERT) and A*STAR’s AdViSE platform improving reporting accuracy and efficiency. Case studies from companies such as OCBC and SATS illustrate how businesses are leveraging carbon data to enhance investor trust and embed sustainability across operations.
As Singapore moves towards a low-carbon future, the report serves as a practical guide for businesses to strengthen their sustainability strategies, ensuring they remain competitive and resilient in the evolving regulatory landscape.
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