pstrongspanspanspanspanspanspanAbout 81% of the real estate sector indicated full preparedness.
Nearly two-thirds of Singapore’s executives have not fully measured or analyzed the greenhouse gas emissions emissions within their supply chains, amidst a lack of appropriate technology.
It was also seen that significant gaps in the engagement of Singapore businesses with their supply chain partners to calculate total GHG. Despite the measurement gap, Singapore businesses are taking steps to green their supply chains. Measures include switching transportation routes, placing increased requirements on suppliers, and switching suppliers. SMEs face particular challenges in meeting these requirements, with 95% of respondents believing it's becoming harder for smaller companies to supply larger ones due to increasing environmental requirements.
Additionally, 47% of all business leaders and 57% of small business leaders believe business costs will rise due to emission reduction requirements. To aid suppliers in emission reduction, 81% offer financial incentives, 74% provide expertise access, and 28% offer training.Businesses in Singapore welcome the support announced by Deputy Prime Minister Lawrence Wong in Budget 2024 to boost sustainability goals and green supply chains.
This support is timely as 89% cite access to working capital as a major barrier to adopting green solutions.
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