Corporate resilience has become synonymous with the low-carbon transition and is creating a wealth of untapped growth opportunities for businesses. Yet a key issue in adoption has been that a lot of the financial instruments are targeting the big end of town, with fewer options for smaller corporate players and enterprises, who are essential players in the development of a green finance ecosystem.
A large reason behind this is that sustainable finance is still at a relatively nascent stage compared to traditional forms of finance. Put simply, there is a lot of noise in the market — so how do smaller enterprises, who might not have the funds or the dedicated functions, get started, and why do they need to now?
The armoury of sustainability tools available to Singapore firms has accelerated at a remarkable pace, opening up access to the entire business ecosystem but with it brings new competition. The challenge now will be in acting quickly and meaningfully enough to stay relevant.