Singapore Experts Recommend Sustainability Measures for Manufacturing Companies

📆 12/1/2023 4:15 AM
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Singapore,Sustainability,Manufacturing Companies

The Institute of Singapore Chartered Accountants (ISCA), Singapore Manufacturing Federation (SMF), Deloitte, and Singapore Management University (SMU) have listed five recommendations for manufacturing companies to accelerate their sustainability transformation. Creating a Chief Financial and Sustainability Officer (CFSO) position and integrating sustainability into operations are among the suggestions.

In Singapore, only 37% of companies have implemented sustainability initiatives. The Institute of Singapore Chartered Accountants (ISCA), Singapore Manufacturing Federation (SMF), Deloitte, and Singapore Management University (SMU) have listed five recommendations for manufacturing companies to accelerate their sustainability transformation.

To further drive sustainability transformation, the experts recommended that manufacturing companies create a C-suite position for the Chief Financial and Sustainability Officer (CFSO). "A CFSO can help translate sustainability measurements and data into the financial bottom line," said the experts in a report. Manufacturing companies should also integrate sustainability considerations into current operations. Doing so will ensure that sustainability initiatives and business strategies are aligned. Third, experts advised companies to leverage international and/or local communities of practice to stay informed on sustainability matter

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