Singapore, covering an area equivalent to New York City, has cemented its position as a global financial centre and a regional hub for international business. Its strategic location, coupled with a stable and efficient government, supports this status.
“Anyone who has done business in Singapore will tell you it is one of the world’s most developed and open economies, serving as the Asia headquarters for global multinational companies, financial institutions, and technology research centres,” FM Global said in an insight. However, Singapore’s resilience is continually tested by climate and geopolitical risks. It ranks no. 56 for climate change exposure due to its tropical location and associated risks such as rising sea levels and temperatures.
The Singapore Green Plan 2030 aims to transition from fossil fuels to renewable energy, and green buildings, and reduce emissions through vehicle quotas.