76% of business leaders back efforts to expand green economy: Survey

A survey of 500 business and sustainability leaders has found that Singapore’s green efforts – which came into focus in the recent Budget 2022 – are gaining traction.

- Chor Khieng Yuit

In the first edition of the Singapore Green Pulse Survey conducted by Schneider Electric, it found that 76 per cent of business leaders support efforts to expand the green economy.

Close to eight in 10 (78 per cent) are optimistic that local businesses can directly benefit from this growth.

To ride on this development, seven in 10 business leaders plan to create green jobs over the next year or so.

France-headquartered Schneider Electric is an energy management and automation company that provides solutions to improve energy efficiency.

The survey, which polled respondents across various sectors, was done last month after Budget 2022, and serves as the most recent pulse check on the green measures announced.

The carbon tax will be raised from $5 per tonne to $50 to $80 per tonne by 2030, while the country has pledged to achieve net-zero emissions by around mid-2050.

Mr Kim Yoon Young, cluster president for Singapore, Malaysia and Brunei at Schneider Electric, said companies were already aware of green issues but are now stepping up efforts to address them.

“We can see that they start to have a plan or start to have some actions,” he added.