Policymakers in Singapore should act to overcome climate adaptation shortcomings

Far-reaching interventions are needed to overcome shortcomings in Singapore’s approach to climate adaptation projects. This was the main conclusion of a new report, Are Markets Interested in Adapting to Climate? Insights From Singapore, published by the Singapore Green Finance Centre (SGFC), an initiative of SMU and Imperial College Business School (ICBS), backed by the Monetary Authority of Singapore (MAS). The report has collated the views of leading practitioners in Singapore and offers several policy recommendations. According to the paper, co-authored by Stella Whittaker, a Visiting Researcher at ICBS and Dr. Tran Bao Phuong Nguyen, a Postdoctoral Research Fellow at SMU, although a sense of urgency to tackle adaptation has been widely communicated from the top down, Singapore has not yet clearly articulated a role for the private sector and the market in financing adaptation.