Singapore leads in ESG awareness, performance: report

Singaporeans urge companies to better communicate ESG issues to all stakeholders.

In Singapore, 86% of the population believe that the country is on the right track when it comes to ESG performance, nearly double the global average of 47% according to SEC Newgate.

In 2024, 41% of Singaporeans reported a good understanding of ESG, compared to the 54% global average, whilst 81% cited familiarity with the term "ESG."

For Singaporeans, government agencies and departments have the highest performance in responsible business practices, receiving scores between 7 and 10 out of 10 from 75% of respondents.

Large businesses follow closely with a 70% rating, whilst small- and medium-sized enterprises (SMEs) receive a rating of 59%.

The research also found that 72% of Singaporeans expect companies to play a more active role in society, and 73% agree that profitability and strong ESG performance can go hand in hand, whilst 71% believe companies should act in the best interests of all stakeholders, not just shareholders.

In addition, 73% of Singaporeans believe that companies should improve their communications about ESG issues and 75% agreed that companies could better explain how they are addressing the needs of various stakeholders.

SEC Newgate surveyed over 14,300 people across 14 countries and territories.