SINGAPORE, April 8 (Xinhua) -- Singapore-based firms are among the most advanced in Asia in translating sustainability ambitions into action, although funding constraints remain a key hurdle, according to the Sustainability Pulse Survey by HSBC revealed on Wednesday.
The survey found that 99 percent of Singapore-based businesses see sustainability as a commercial opportunity, while 83 percent say it is already a key strategic focus area. Implementation is also well underway, with 84 percent having established or fully rolled out transition plans.
Meanwhile, 41 percent of businesses allocate more than 10 percent of their capital expenditure to climate-related investments, higher than the Asia-Pacific average of 14 percent and the highest among six Asian markets surveyed.
Momentum is expected to strengthen further, with 80 percent of companies planning to accelerate sustainability efforts over the next three years.
However, financial constraints continue to weigh on progress. Budget limitations were cited by 42 percent of respondents as the main barrier, followed by high costs (38 percent) and limited access to financing (26 percent).
Ellis Savva, head of sustainable finance and transition at HSBC Singapore, said businesses are increasingly embedding sustainability into core operations, supported by policy measures such as carbon pricing and decarbonization incentives under Singapore's 2026 budget.
"For many businesses, the focus has shifted from whether to act to how to scale delivery and achieve impact at pace," he said. ■