According to McKinsey, in order to prevent environmental degradation, an estimated USD9.2 trillion (approximately SGD 13.2 trillion) per year is needed to achieve net zero by 2050. This means reaching a balance between the amount of greenhouse gases produced and the amount removed from the atmosphere.
This presents a huge opportunity for individuals, wealth owners and the financial system to play a pivotal role by channeling their money to impactful initiatives and projects that reduce the threats of climate change and nature loss for future generations.
Sustainable Finance refers to the process of making lending and investment decisions based on Environmental, Social and Governance (ESG) criteria.
This leads to increased investment in longer-term and sustainable activities. It also acts as a key enabler to influence sustainable outcomes in line with the United Nations’ Sustainable Development Goals, such as the mitigation of climate change.
On an individual level, WWF-Singapore offers $ustain – a learning tool that equips the general public with the right knowledge about sustainable personal finance. Working in tandem with $ustain is SPRING, a framework and tool that we offer to wealth managers and private banks to integrate ESG considerations into their strategies, operations, and offerings.
$ustain is an online education and knowledge tool designed by WWF-Singapore that teaches individuals how to make meaningful sustainable finance choices through their usual savings and investments.
The tool will offer short courses with interactive gaming elements for a fun learning experience, and build an active community by sharing new insights, jobs, events and other opportunities in the Sustainable Finance industry.
Users can explore specific issues, such as climate, nature and biodiversity, waste and plastic, energy, supply chains, sustainable sourcing and consumption, technology and social issues.
The community features of $ustain will also contribute to upskilling home-grown talents, ensuring that Singaporeans are prepared for jobs of the future, and remain globally competitive.
SPRING is a pioneering, interactive web-based tool that reflects the sustainability assessments of private banks. The tool allows private banks and their clients to better understand the sustainability practices, policies and processes of private banks.
Our vision in SPRING is to help private banks fully integrate sustainability in their business, services and client interactions, be better partners for their clients and drive capital allocation towards positive impact.
Many investors and businesses are keen on adopting sustainability practices and WWF-Singapore is driven to provide the opportunity and aid for them to make a difference and pave the way for others to follow.
The commitment to halt climate change is something that affects us all.
Every year, we witness more natural phenomena that show us action must take place to secure our future. And it must be taken now. Do your part to achieve a low-carbon, climate-resilient Singapore and protect not only the environment but the people we love.