The Singapore Government Climate Change Commitment Update

The Singapore government has reaffirmed its commitment to addressing climate change following the blacklisting of the country’s state-backed assets by Dutch asset manager Van Lanschot Kempen over environmental concerns. In a recent ESG test conducted by Kempen, Singapore reportedly failed to meet the criteria due to concerns about environmental risks, particularly related to biodiversity and climate.

Responding to the article, several government agencies and ministries jointly issued a statement on Thursday, emphasizing Singapore’s dedication to climate action. The statement highlighted the country’s pledge to achieve net-zero emissions by 2050 and expressed appreciation for Kempen’s incorporation of sustainability considerations in its investment decisions. The government invited Kempen to learn more about Singapore’s firm commitments and concrete actions taken to address sustainability issues.

The statement was issued by the National Climate Change Secretariat, the Ministry of Sustainability and the Environment, the Ministry of Trade and Industry, and the National Parks Board.