Singapore’s green leadership role possibly a global model

As the real estate sector in the west focuses more assiduously on net zero carbon, green finance and reducing the environmental impact of the built environment, it is evident that Singapore is undergoing a similar path to Europe in microcosm.

Real Asset Insight’s Richard Betts was there towards the end of last year and spoke to PwC’s global real estate ESG leader Christiane Conrads about the lessons that can be learned from the southeast Asian city state.

“Singapore has started to implement its sustainable finance action plan,” Conrads explained. “This is a green plan with targets for 2030 and what you can really see is that Singapore has a really strong ambition to become the leading centre for green finance in the Asia region, or even globally.”

“There’s a lot going on right now, at a very fast pace,” she added.

Conrads explained that Singapore is in the process of implementing its own environmental taxonomy with a very broad understanding of environmental targets. Real estate is acknowledged as an important component because of its huge environmental impact.

“Everyone expects binding thresholds and criteria which will have a huge impact for real estate,” Conrads said.

Singapore has also begun work on its ESG disclosure regime and is also fighting green washing.

“Singapore has already started moving and it is moving very fast.  I am curious to see what kind of regulations will be implemented,” Conrads said.

Please click on the video above to watch the full interview or listen to the podcast below.