SGX-Gprnt Climate Action Forum - Ms Grace Fu

Good morning, everyone.

We gather at a time when businesses around the world are navigating an increasingly complex operating environment.

Geopolitical tensions are reshaping the rules of global trade. The imposition of tariffs, friend-shoring of investments, and blockade of the Strait of Hormuz, a critical energy corridor, have introduced new layers of uncertainty for businesses everywhere. Supply chains that were once optimised for efficiency are now being redesigned for security. Companies are having to make difficult decisions about where to source, where to invest, and how to protect their operations from disruptions that can materialise with little warning.

And as companies review and strengthen their business continuity plans, climate risk is an equally important consideration — one that can no longer be treated as a separate or distant concern.

We are already seeing what climate disruptions look like for businesses today. In Europe, the recent heatwave has caused significant disruptions to accommodations and offices that lack air-conditioning. Power supply was disrupted as rivers became too warm to supply cooling water. These are a preview of the operating conditions and climate risks that businesses will increasingly face.

Managing climate risks requires a deliberate focus on adaptation — assessing and minimising disruption arising from climatic events. We can see the need to adapt in very visible ways. In the ongoing FIFA World Cup, hydration breaks have been introduced to protect players from rising temperatures, which is a clear illustration of how adaptation, even through small and minor acts like that, is becoming increasingly necessary in all sectors. My Ministry has designed this year as the Year of Climate Adaptation to focus the nation’s attention on adaptation.

Countries and companies that invest in adaptation will be more resilient, face lower costs or probability of disruption, and be better positioned to maintain continuity and even thrive when climate events strike. Those that do not will find themselves increasingly exposed — not just operationally, but financially as well.

This is where sustainability disclosure plays an important role.

Some may view sustainability reporting as a compliance requirement. I encourage businesses to see it differently.

Good sustainability disclosure helps organisations better understand their own risks and opportunities, which in turn drives action.

When companies systematically assess and disclose climate-related risks, they are often better able to identify vulnerabilities and strengthen their resilience. It provides investors and financial institutions with greater transparency and confidence. It enables stakeholders to assess how companies are preparing for a changing climate. Sustainability disclosure is not the end goal. It is the foundation upon which meaningful climate action is built.

On that note, I am pleased to announce the following collaborations that will empower our business community on climate action.

Firstly, SGX and Gprnt will partner to support SGX-listed companies in their climate disclosures. With this partnership, SGX’s ESGenome Portal will be powered by Gprnt’s sustainability reporting infrastructure, to simplify sustainability reporting, support companies in preparing for ISSB-based disclosures, and lay the foundations for future AI-enabled capabilities to help businesses derive greater value from their sustainability data.

Secondly, SGX and Gprnt will work with the Council for a Competitive Climate Transition (C3T) to provide SGX-listed companies with relevant information and resources relating to climate risks, transition pathways and sectoral benchmarks, to enable companies to generate high-quality disclosures and transition plans.

C3T encourages SGX-listed companies to join the Green 100 national movement. By signing up as Enterprise “Queen Bees” and mobilising their supply chain partners to embark on basic sustainability reporting and actions, listed companies can gain access to Scope 3 data and enhance their business resilience. As more industry partners come on board, we hope to unlock more opportunities for green procurement and sustainable supply chain financing.

Climate adaptation and sustainability reporting are not separate agendas.

Both prepare businesses for a future in which climate considerations increasingly shape markets, investment flows, and competitive advantage.

The tools are here. The ecosystem is coming together. I encourage more listed companies to step forward, seize the growing array of opportunities available through ecosystem enablers such as SGX, C3T, and Gprnt, and turn climate action into sustainable and practical business outcomes.

Singapore is developing our first National Adaptation Plan, our long-term, living strategy for Singapore to continue thriving in the face of climate change. We will be embarking on a series of engagements to co-create solutions with key public, private and people stakeholders, and I would like to encourage everyone to join us to share your ideas and perspectives.

It will be remarkable to see what we can build together. And when we build together a plan that is relevant to you, that is relevant to the communities around us, it will be a sustainable future for all of us.

Thank you.