Only 17% of firms report readiness despite rising climate concerns

This is in stark contrast to the 42% of firms that identified climate change as a top-three business risk, up from 33% a year ago.

Despite mounting concern over climate change, just 17% of Singapore businesses have a climate risk plan in place, according to QBE Asia’s 2025 APAC Business Risk Report.

This is in stark contrast to the 42% of firms that identified climate change as a top-three business risk, up from 33% a year ago.

The report described this widening gap between awareness and action as a “complexity conundrum,” where companies increasingly recognise major risks but feel ill-equipped to address them.

The report highlighted that risk planning has become more difficult for 77% of firms compared to three years ago. Yet preparedness remains low not just for climate risk, but also for cybersecurity—only 16% of companies reported having a cyber risk plan.

In contrast to climate and digital threats, artificial intelligence (AI) was seen as a low-priority concern. Just 3% of businesses identified AI as a top risk, despite the technology’s rapid development and growing regulatory scrutiny.