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How much do Singapore businesses care about sustainability?

September 1, 2016

How much do Singapore businesses care about sustainability?

Thursday 1 September 2016

Singapore-based companies are starting on the journey towards sustainability, although most of them have not yet made the connection between corporate responsibility and profitability.

This is the main finding of a new survey conducted by Eco-Business, a leading online media covering business and sustainability in Asia Pacific.

The survey was conducted in June 2016 among 404 respondents in the Asia Pacific region, of which 352 are based in Singapore, on their attitudes towards business sustainability.

The survey revealed that manufacturing companies are more advanced in their consideration of sustainable business practices than those in services.

Multinational companies claim to have more robust sustainable business practices than local companies, although senior executives from both types of companies differ in their opinions on the sustainability of their operations compared with the views of their line managers.

Energy efficiency tops the survey as the most adopted sustainability practice, with 89 per cent of respondents saying their companies have energy efficiency policies and practices in place. Presumably, this is the one obvious area of sustainability that directly impacts their bottom line.

A common feeling from respondents was that corporate attitudes towards sustainability were somewhat starting to gain more traction in Southeast Asia, with a director of a multinational automotive company commenting: “This is still a very ‘young’ topic in APAC, especially in Asean. But it is getting more traction.”

Read more at Eco-Business.

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