S’pore firms prioritise sustainability and employee welfare amidst rising costs: UOB

Besides rising costs, limited awareness and resources hinder firm progress.

Businesses are prioritizing the implementation of sustainable initiatives that enhance energy efficiency and employee wellness, UOB reported.

UOB found that 48% use resources efficiently to minimize waste, use energy-efficient equipment and strategies (40%), and implement clear operational policies and processes (35%).

In addition, 37% provide mental wellness support in the workplace and 33% ensure employee welfare.

Meanwhile, higher product costs to end consumers (33%), negative profit impact (29%), and insufficient knowledge to implement initiative (27%) were the key barriers to implementing sustainability and employment practices.

Lack of awareness (25%) and lack of manpower/resources (25%) also impact businesses’ sustainability initiatives. 

In January 2025, UOB surveyed 900 small, medium, and large businesses across all key sectors in Singapore.