Businesses in Singapore recognise the importance of sustainability as a driver of reputation, growth and profitability, yet have not fully converted sentiment into meaningful action, a HSBC report has found. Not having a stronger approach to Environmental, Social and Governance (ESG) is also simultaneously impacting corporates’ financing opportunities as well as presenting supply chain risks.
For the second year running, HSBC Singapore tops Euromoney’s annual survey of more than 7,000 businesses involved in international trade.
HSBC has provided more than USD25 billion in sustainable financing over the past year, supporting projects such as renewable energy and electric vehicles in 35 countries and territories.
First fully-digitised trade transaction in Singapore using an electronic Bill of Lading Deal marks the next step in blockchain’s transformation of trade finance.
Singaporean companies are looking past cyclical downturns and trade tensions to China’s rising wealthy milllennials for future growth, a HSBC survey has found. Whilst businesses have mixed opinions on the best strategies to grow their exports to China, the majority agree that a price-led strategy is not sustainable, and that regional trade pacts will be an economic booster.