Economic risk of climate change increasingly relevant for S’pore, but also creates opportunities: Indranee

There are opportunities for firms to develop expertise in sustainable development and climate risk assessment, she said. Read more at straitstimes.com.

SINGAPORE - The economic risk of climate change is increasingly relevant for Singapore, extending beyond immediate financial and property losses from extreme weather events to supply chain disruptions, said Second Minister for Finance Indranee Rajah.

But consideration of such risks and sustainable development can also create opportunities across Singapore’s financial and professional ecosystem, she said on March 12 at the opening of the Sustainable and Green Finance Institute’s Sustainability Summit 2026.

“Legal firms, accountants, and consultants are increasingly called upon to navigate sustainability regulations, ensure robust climate data reporting, and advise on green financing structures.

“This represents growth opportunities for firms to develop specialised expertise in sustainable development and climate risk assessment.”

A skilled workforce capable of evaluating and financing natural capital investments is important for Singapore to achieve its climate goals, said Ms Indranee, who is also Minister in the Prime Minister’s Office and Second Minister for National Development.

Natural capital refers to natural resources that drive economic growth and create jobs.