Gan Thiam Poh on moving towards a low-carbon society
Transparency in green finance reporting is vital and Singapore could consider having a standardised national ESG (environmental, social and governance) rating index and methodology for evaluating companies. This will prevent such disclosures from being no more than “marketing-style narratives” of the firms’ green philosophies, said MP Gan Thiam Poh in Parliament on Wednesday (Jan 12). He added that this will be important as more and more enterprises make sustainability an integral part of their business. Mr Gan also suggested that the Government provide green finance participants with more incentives, such as tax exemptions for green deposits, bonds and funds.
Transparency in green finance reporting is vital and Singapore could consider having a standardised national ESG (environmental, social and governance) rating index and methodology for evaluating companies. This will prevent such disclosures from being no more than “marketing-style narratives” of the firms’ green philosophies, said MP Gan Thiam Poh in Parliament on Wednesday (Jan 12). He added that this will be important as more and more enterprises make sustainability an integral part of their business. Mr Gan also suggested that the Government provide green finance participants with more incentives, such as tax exemptions for green deposits, bonds and funds.
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