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What is good for the planet is good for your business

Not that long ago, sustainability was a good-to-have goal that was subservient to business outcomes for many organisations. That has changed very quickly in the past few years, as climate awareness has risen among consumers, governments and businesses about the urgency for action. In September, a United Nations climate change report issued a “code red” for humanity, citing the worsening global warming that will drastically change the planet. Today, there is also an awareness that what’s good for the planet is good for the business as well. A recent study by Schneider Electric, which surveyed over 1,000 businesses and consumers in Singapore, highlights the fact that 83 per cent of organisations feel that sustainability performance will be a potential barrier or opportunity for growth and success in the future. This tells us that many local businesses are aware that moving forward, sustainability and growth go hand in hand, even if only 43 per cent say that their company is currently operating sustainably and only one-third of companies are strongly aligned to the Singapore Green Plan 2030. Automation, for example, not only leads to efficiency in energy usage, but also a reduction in...