Second Nature

WWF‑Singapore CEO R Raghunathan discusses the role of businesses in Singapore’s decarbonisation journey—and how sustainable finance is key to a low-carbon and climate-resilient future

- Hashirin Nurin Hashimi

In a move toward a sustainable future, Singapore announced in October last year that it would raise its national climate target to achieve net-zero emissions by 2050, and reduce emissions to around 60 million tonnes of carbon dioxide equivalent (MtCO2e) in 2030. The country accounts for around 0.11 per cent of global carbon emissions, according to the National Climate Change Secretariat, and it has taken significant efforts to reduce emissions as part of the global fight against climate change.

“Businesses play a vital role in addressing climate change, as industry accounts for the bulk of carbon emissions”, says R Raghunathan, CEO of WWFSingapore (World Wide Fund for Nature Singapore). Financial institutions, in particular, are “uniquely positioned as they are exposed both to risks through their lending and investment activities, and also to opportunities by being in a position to allocate capital to more sustainable opportunities”.