74% of firms report carbon reductions under national programme

74% of companies achieved reductions in either absolute emissions or emissions intensity.

Nearly three-quarters of companies participating in a national emissions tracking programme reported reductions in their carbon output, according to the newly released Singapore Business Carbon Report 2024.

Published by the UN Global Compact Network Singapore (UNGCNS), the report showed 74% of companies achieved reductions in either absolute emissions or emissions intensity.

Notably, 41% reduced both, and amongst those that made cuts, 82% recorded at least a 5% YoY improvement.

Small and medium-sized enterprises (SMEs) made up more than 80% of participants.

The findings were drawn from 318 submissions by 227 companies under the LowCarbonSG programme, a national initiative launched in 2021 to support carbon measurement and management through digital tools like the Carbon & Emissions Recording Tool.