Singapore has established itself as a global sustainability leader, with 100% of its top 100 companies achieving sustainability reporting—a distinction shared by only seven nations worldwide.
Over three-quarters of these companies recognise climate change as a financial risk, exceeding the global average of 55%.
Singapore’s Green Plan 2030 outlines a comprehensive strategy for achieving net-zero emissions, emphasising urban greening, sustainable living, and renewable energy.
The push toward sustainability is also reflected in consumer behaviour. Our study on sustainability across ten countries, The Green Brand, reveals that 24% of Singaporeans strongly agree they choose products or services based on environmental credentials, emphasising the importance of sustainability in purchasing decisions.
This unwavering commitment to sustainability, driven by government initiatives and corporate responsibility, has fostered a thriving green market in Singapore. Conscious consumerism is reshaping the way corporations and individuals approach environmental impact.
Government policies have laid a strong foundation for this transformation. Initiatives like the carbon tax—the first in Southeast Asia—have encouraged brands to reduce emissions, while programs such as Eco Fund grants support community-led sustainability projects. These efforts are shaping corporate strategies and cultivating eco-conscious habits among residents.
Corporate engagement is another key driver. Major companies in Singapore have integrated sustainability into their business models. For instance, CapitaLand launched its 2030 Sustainability Master Plan, which outlines ambitious goals for carbon reduction, energy efficiency, and adopting green building technologies.
On the consumer front, demand for eco-friendly products has surged. Singaporean consumers consider sustainability a critical factor in their purchasing decisions, making the green market an essential brand focus. This shift is particularly pronounced among younger generations, who are more likely to support brands that align with their environmental values.
Environmental awareness fuels conscious consumerism in Singapore, reshaping purchasing behaviours and lifestyle choices. By understanding and addressing these drivers, brands can position themselves as leaders in sustainability, building trust and loyalty among eco-conscious consumers while contributing to Singapore’s vision of a greener future.
Millennials and Gen Z drive this transformation, showcasing a strong commitment to environmental sustainability. A Deloitte survey found that 60% of Gen Z and 79% of millennial Singaporeans are willing to pay a premium for sustainable products or services. These figures reflect a significant shift in consumer priorities, with sustainability becoming a key factor in purchase decisions.
Beyond the willingness to pay, Singaporean consumers are actively aligning their actions with their values. The same study shows that nearly 29% of Gen Zs and 28% of millennials in Singapore have stopped or reduced their relationships with businesses whose practices harm the environment. Personal actions such as avoiding fast fashion, reducing air travel, and adopting plant-based diets are increasingly prevalent, signalling a broader cultural shift toward sustainability.
Public awareness of climate change and environmental challenges continues to rise, supported by initiatives like the Sustainable Singapore Movement. Educational programs and campaigns have equipped Singaporeans with the knowledge to make informed decisions, empowering them to choose products and services aligned with eco-conscious principles.
Social media has become a powerful catalyst for driving sustainability conversations. Influencers advocating for green lifestyles amplify messaging and connect with audiences, while hashtags like #SustainableLivingSG regularly trend, showcasing reusable products, zero-waste efforts, and plant-based diets. Social platforms have effectively turned sustainability into a shared community value.
Cultural attitudes toward consumption are also evolving. While traditional preferences emphasise cost and convenience, modern Singaporean consumers increasingly prioritise long-term environmental benefits. This change has encouraged second-hand shopping, product sharing, and the adoption of circular economy principles, particularly among younger demographics.
Singapore’s government plays a pivotal role in nurturing this movement. Policies such as subsidies for electric vehicles, incentives for green certifications, and public waste management reforms create a robust ecosystem for sustainable practices. Companies are also integrating green strategies to resonate with consumer values and align with national goals, such as the Green Plan 2030.
Singapore’s green market is evolving rapidly, driven by consumer demand, innovative business practices, and government initiatives. The following trends highlight how sustainability shapes industries and consumer behaviour in the city-state.
Circular economy principles are gaining momentum in Singapore. Platforms for renting, reselling, or repairing products have become more prominent, allowing consumers to maximise the lifecycle of their purchases. For example:
Innovative technology is transforming sustainability practices across industries:
Major corporations are leading by example, integrating sustainability into their operations. Committed to becoming carbon-neutral by 2022, DBS has introduced green loans and sustainable investment products for consumers. The real estate giant CapitaLand has rolled out its 2030 Sustainability Master Plan, focusing on reducing emissions, improving energy efficiency, and fostering innovation in green building technologies.
Sustainability in food is another notable trend. The rise of urban farming initiatives, such as Edible Garden City, and plant-based food innovations are transforming the culinary landscape. These efforts support Singapore’s food security goals while catering to environmentally conscious consumers.
The adoption of electric vehicles is accelerating, supported by government incentives and infrastructure development. Initiatives like the Electric Vehicle Common Charger Grant encourage businesses to install EV chargers, making sustainable mobility more accessible.
These trends showcase how sustainability has permeated every aspect of Singapore’s market, from consumer behaviour to business operations. For brands, staying ahead means embracing these shifts and finding innovative ways to deliver value while contributing to a greener economy.
Initiatives from both local and international brands exemplify Singapore’s commitment to sustainability.
The following examples highlight how brands align with the nation’s environmental goals and consumer expectations.
FairPrice’s ‘No Plastic Bag’ Initiative
NTUC FairPrice, Singapore’s leading supermarket chain, has implemented several measures to reduce plastic bag usage. Through its year-long “No Plastic Bag” initiative, FairPrice saved over 57 million plastic bags—almost double its annual target of 30 million. Since introducing a mandatory 5-cent charge for disposable carrier bags, more than 90% of customers now bring their bags to FairPrice, a significant increase from 61% before the charge. Additionally, starting July 2023, most medium to large FairPrice stores have introduced bag-sharing racks for customers, typically located near the checkout area.
Tesla’s Entry into Singapore’s EV Market
Tesla’s expansion into Singapore aligns with the government’s push for the adoption of the electric vehicle (EV). The introduction of Tesla’s EVs has been well-received, supported by government incentives such as the Electric Vehicle Early Adoption Incentive (EEAI), which offers rebates to encourage EV purchases. Tesla’s presence has accelerated the shift towards sustainable transportation in Singapore.
Shiok Meats’ Cultivated Seafood
Shiok Meats, a Singapore-based startup, is pioneering cell-based seafood production. Shiok Meats addresses overfishing and environmental degradation by developing cultivated shrimp and lobster, offering sustainable alternatives to traditional seafood. This innovation positions the company at the forefront of sustainable food technology.
Singapore’s green market presents unique opportunities for brands to align with sustainability goals and capture the loyalty of conscious consumers. However, navigating this landscape also comes with its challenges.
Opportunities for Brands
Challenges for Brands
To thrive in this market, brands must adopt strategies that embed sustainability into their operations. Here are actionable insights based on our findings:
Make Sustainability a Core Pillar of Growth
Sustainability must move beyond being a value proposition to becoming a foundational aspect of business strategy. Brands should prioritize long-term environmental goals over short-term financial pressures.
How to achieve this: Foster company-wide investment in sustainability by regularly communicating goals, showcasing results, and encouraging innovative ideas from employees.
Set and Review Quantifiable Targets
Targets serve as the compass guiding your sustainability efforts. They lend credibility, streamline initiatives, and enhance accountability.
Why it matters: Regularly reviewed and adjusted targets ensure alignment with current capabilities and emerging best practices.
Best practice: To enhance transparency and trust, use globally recognized frameworks, such as the G20 Financial Stability Board’s Task Force on Climate-related Financial Disclosures.
Measure Performance and Communicate Progress
Tracking performance against targets is essential for continuous improvement. Transparency in reporting achievements fosters internal commitment and strengthens consumer trust.
How brands can do this: Share progress through internal updates and public reports to demonstrate accountability.
Invest in Supply-Side Solutions
Finding environmentally friendly alternatives is critical in industries reliant on single-use plastics, such as hospitality and food. Brands should collaborate to develop innovative materials and infrastructure.
Example: Partnerships with the government to build missing infrastructure like reverse logistics systems, battery charging networks, and renewable energy solutions can have a transformative impact.
Leverage Technology for Sustainability
Technology is a key enabler of sustainable practices. From reducing waste to optimizing supply chains, digital solutions provide brands with tools to achieve meaningful change.
Opportunities: Explore advancements in e-commerce logistics, AI-driven supply chain management, and renewable energy integration to maximize sustainability gains.
Collaborate for Impact
Collaboration between the private sector and government is essential for creating a sustainability-supportive ecosystem. This includes developing infrastructure like waste management systems and renewable energy networks.
Next steps: Join public-private initiatives to co-create solutions that address immediate and systemic sustainability challenges.
Sustainability is no longer optional for brands operating in Singapore—it’s an expectation. By embedding sustainable practices into their operations, setting clear goals, and leveraging technology, companies can build trust, foster loyalty, and lead the green transition.
Read ‘The Green Brand’ report today to learn more about consumer attitudes toward sustainability and gain insights from nine other countries.