Singapore investors going after sustainable causes

SINGAPORE: The Covid-19 pandemic has prompted increasing numbers of investors to put their money into social and sustainable causes, according to a new survey.

It noted that around 90% of Singapore respondents said they wanted investments to align with their values.

The findings of the global survey come amid efforts to develop the country into a sustainability hub, with the Monetary Authority of Singapore announcing on June 9 that it will deploy Us$1.8bil (S$2.4bil or Rm7.44bil) for climate-related investments. It also released its first sustainability report, which noted the growth of green bonds and loans here over recent years.

“Together with the Singapore Government’s Green Plan 2030 and heightened investor awareness that capital can drive change, there is clearly a growing interest among our Singapore clients in sustainable investments,” said Desmond Kuek, divisional vice-chairman at Swiss bank UBS, which commissioned the survey.

Its poll of 3,800 investors across 15 markets with at least Us$1mil (Rm4.11mil) in investable assets found that the pandemic made nearly 80% of them want to reassess their life goals.

Around 60% also became more interested in sustainable investing.

“The pandemic has prompted many investors to re-evaluate what matters most to them and now have a renewed desire to contribute more to benefit society,” said UBS global wealth management co-president Tom Naratil.