Singaporeans expect more from businesses on sustainability, study finds

SINGAPORE: Singaporeans are calling on businesses to step up when it comes to sustainability—but many feel there’s still a gap between promises and action, especially among larger companies, according to a new study by SEC Newgate.

The survey found that 84% of people expect big companies to lead the way on environmental, social, and governance (ESG) issues—but only 68% feel that expectation is being met.

However, many are still optimistic. Around 88% of those surveyed believe Singapore is on the right track and moving in the right direction.

Climate action is still a top priority for Singaporeans. Approximately three-quarters (73%) say it’s vital for the country to act conclusively on climate change, while 77% highlight the significance of shifting to renewable and clean energy.

The study also bared a solid partiality toward local solutions. More than half of Singaporeans say the country doesn’t produce enough of its own food, while 47% point to gaps in local manufacturing and 45% to limited energy independence. Businesses earn extra goodwill if they produce locally, are headquartered in Singapore, or source materials domestically—though 64% still prefer global sourcing if it means lower prices.

On wide-ranging corporate accountability, 72% say corporations should give priority to those suppliers who have good performance and responsible practices, while 71% think businesses should finance in local communities even if it hits revenues. When it comes to technology, 60% believe AI should only be employed if it doesn’t cost jobs.

All things considered, the results demonstrate that Singaporeans intensely care about sustainability, homegrown production, and principled business practices, however, they also want these businesses to observe a high standard performance, in that area, many feel advancements are still needed.