ISCA CEO, Mr Lee Fook Chiew, was quoted in The Business Times on the question of ‘How may businesses in Singapore reduce their carbon footprint and help mitigate climate change?’ This is what he has to share:
The introduction of carbon tax with effect from Jan 1, 2019 is an important step in combating climate change. With this, businesses will be more mindful of their carbon footprint.
To have an even more meaningful impact, businesses could go beyond meeting regulatory requirements and consider the carbon emissions of their supply chains in their procurement decisions. This would incentivise their vendors to reduce their carbon footprint.
With greater societal expectations on companies to adopt sustainable practices, businesses that adopt sustainable, environmentally-friendly practices and communicate their sustainability efforts to stakeholders may gain a competitive advantage.
- Lee Fook Chiew, Chief Executive Officer, Institute of Singapore Chartered Accountants (ISCA)