More companies go green to increase investor appeal - Singapore

More companies go green to increase investor appeal - Singapore
By Rachel Kelly,
SINGAPORE: Singapore companies are ahead of Australia, the United Kingdom, Hong Kong and Japan when it comes to being green.

More than half of the Singapore companies surveyed by recruitment firm Robert Half said they had environmental or green policies and activities in place.

Many also believed that having green policies would improve a company’s image among investors.

According to the survey, the demand for professionals in the financial industry with expertise in corporate environmental accounting is set to grow, as more companies in Singapore implement environmental policies and activities.

The survey polled about 4,900 people in 17 economies around the world. 22 per cent of the companies polled in Singapore were addressing environmental accounting in financial reporting, with 29 per cent of the respondents looking to do so.

Singapore’s ranking on environmental financial reporting was just behind Hong Kong’s 28 per cent.

Tim Hird, director of Robert Half International, said: “I think it undoubtedly presents an opportunity for accountants who have good solid understanding of corporate environmental accounting in the financial reporting area. We see that as being a really big growth area for the profession.”

Environmental or green accounting monitors the costs and savings of taking on green initiatives.

Robert Half said Singapore companies are ahead of the game when it comes to being green.

“Over 50 per cent of companies in Singapore actually said they had green policies in place already. That is pretty much ranked the highest, ahead of all the developed countries such as Australia, Japan and Hong Kong,” Hird said.

The survey showed that 75 per cent of the companies surveyed in Singapore had existing recycle programmes.
- CNA/so

 
Source : Channel NewsAsia - 04 July 2008

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