Climate reporting can combat greenwashing, but other data problems may follow

In recent years, greenwashing has been a growing concern, reflected in both boardrooms and regulatory circles. With growing awareness of the global climate crisis, consumers increasingly expect companies to adapt to a more sustainable operating model. At the same time, businesses are jumping on the bandwagon of sustainable products and services, along with the risk that more will try to embellish their green efforts to get a bigger piece of the pie. With Singapore committed to net zero emissions by 2050, all stakeholders will play a key role in this green transition. However, despite the need to ensure compliance with the ever-growing labyrinth of sustainability regulations, businesses can inadvertently fall into the trap of greenwashing – intentional or unintentional – when the representation of their sustainability initiatives is unclear.

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