Singaporeans ahead of the world on ESG issues
72% of Singaporeans were aware of the term 'ESG.'
SEC Newgate released an inaugural global ESG Monitor research report on 21 October. It studied public attitudes and perceptions concerning the environmental, social, and governance (ESG) performance of governments and companies.
According to the report, Singaporeans were ahead of their global peers in their awareness and understanding of ESG issues, with 72% of Singaporean respondents expressing familiarity with the term "ESG" without being prompted, compared to a global average of 51%. Of over 1,000 respondents, 30% reported a good understanding of ESG concepts, compared to a global average of 17%. Secondly, six in ten respondents in Singapore said they are interested in the ESG behaviour of governments and corporations, with 62% rating their level of interest as above 7 out of 10. Lastly, 53% said that ESG issues influence their purchase decisions, roughly in line with global levels of 51%.
Managing Partner Terence Foo commented, "The high level of awareness of ESG issues among Singaporeans reflects the frequent discussions that we all have on these concerns. Environmental blueprints such as the Singapore Green Plan 2030 have also galvanised interest in sustainability targets and efforts to achieve our long-term net-zero emissions goals."
"It is interesting to observe that Singaporeans provide higher-than-average ratings of the ESG performance of their government, companies and non-profit organisations, as compared to other countries. They are also far more likely to say that their country is headed in the right direction (85%) than the global average of 54%," managing director Sue Vercoe added.
Respondents in Singapore ranked healthcare as the industry sector acting most responsibly on ESG issues, followed by education, finance, and technology.