Over half of Singapore CEOs have pushed sustainability down their to-do list: EY survey

Globally, 23 per cent of CEOs have deprioritised their focus on sustainability, compared with a year ago. But the figure is 58 per cent in Singapore.

The survey, which polled 1,200 executives across the globe, found that 58 per cent of chief executive officers in Singapore have deprioritised their focus on sustainability, compared with a year ago.Asked why, more than 40 per cent of Singapore CEOs cited challenging economic or financial circumstances; 15 per cent said that sustainability was less of a priority now because of a shift in focus to other boardroom priorities.

Mr Vikram Chakravarty, Asean strategy and transactions leader, said that sustainability has obviously slipped as a business priority among CEOs, but added: “However, with governments continuing to focus on sustainability by, for example, requiring Singapore businesses to make climate-related disclosures in their sustainability reports, business leaders should not lose sight of their decarbonisation and sustainability strategies.

A majority of them felt that consumer behaviour was still not aligned with sustainability goals, and that more needed to be done by businesses, governments and non-profit groups to effect change.

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