Sustainability concerns will shape Singapore’s priorities in attracting investments: EDB chairman

THE Republic’s priorities in attracting investments are being reshaped by the city-state’s sustainability commitments, said Singapore Economic Development Board (EDB) chairman Png Cheong Boon in a recent interview.

“As we work towards our net-zero targets, it means that investments that are less sustainable would not be suitable for Singapore,” he told The Business Times.

Singapore is committed to peaking national carbon emissions by 2030 and achieving net-zero emissions by 2050, he noted. This means companies here “must also embrace greater sustainability and move towards having a lower carbon footprint”.

“These realities and considerations will shape our priorities when attracting investments,” he said.

While EDB hopes to draw investments that are “knowledge and innovation intensive”, such projects must not only be in “key sectors that have high growth opportunities”, but also be aligned with the transition to a low-carbon economy.