Demand for Green Skills Is Rising — Explore the Job Prospects
Demand for green skills is rising as sustainability becomes a core business priority. In a virtual media roundtable, Associate Professor Zhang Weina (Department of Finance) said companies are increasingly seeking leaders who can integrate financial, environmental and social considerations, making sustainability a critical competency rather than a niche skill. She noted that enrolment in sustainability-related courses at NUS Business School has more than doubled, reflecting growing demand, and added that programmes are designed to equip students with the analytical, strategic and practical skills needed to lead the transition.
The Complex Trade-Offs Involved in Natural Resource Governance
Natural resource governance often involves complex trade-offs between regulation, enforcement, and long-term development goals. A recent op-ed by Professor Johan Sulaeman in The Jakarta Post reflects on a case where mining permits were revoked while operations continued, highlighting the challenges that can arise between policy decisions and their implementation on the ground. The article illustrates how the transition from regulatory decisions to operational outcomes can be complex, particularly in the mining industry, where projects involve long investment cycles, multiple stakeholders, and significant economic and environmental implications. Addressing these challenges requires not only well-designed policies, but also consistent implementation, transparent processes, and clear communication among regulators, companies, and local communities. As environmental considerations, economic development, and financial risks become increasingly interconnected, strengthening governance and accountability will remain essential for supporting responsible and sustainable resource management.
The $1B Question: Why Singapore’s Carbon Tax Revenues Fall Short of Expectations
Singapore’s carbon tax debate is less about missed forecasts and more about design realities. As highlighted by Professor Johan Sulaeman, the oft-cited S$1 billion revenue was never official, raising a more important question: why are actual projections structurally lower? Transitional allowances and the use of international carbon credits are softening the effective carbon price, particularly for emissions-intensive, trade-exposed sectors. While this cushions competitiveness, it also dilutes near-term impact. For carbon pricing to drive meaningful transition, these allowances must be progressively tightened in both scope and quality. Otherwise, persistently low effective prices risk weakening incentives for decarbonisation and delaying Singapore’s broader climate ambitions.
Why airlines are paying more for cleaner fuel — and who foots the bill
Associate Professor Zhang Weina (Department of Finance, Deputy Director of SGFIN) shared her insights in this interview by CNBC on sustainable aviation fuel (SAF). She explained that while SAF mandates set demand and SAF levies focus on costs. She noted that the mandates will push up the SAF prices in the short run due to the limited supply of SAF. The mandates alone are insufficient to boost supply. Greater policy support, such as de-risking projects and tax incentives, is needed to attract producers and expand capacity. Over time, increased supply could help ease price pressures.
Climate risk is increasingly a cross-border financial risk
Research presented at the SGFIN Summit 2026 and recently featured in The Business Times highlights how banks operating in Indonesia, including Singapore banks and other regional banks, could face a higher loss intensity from climate-related exposures in Indonesian loan portfolios, particularly in fossil-intensive sectors. The findings underscore the growing importance of granular data and forward-looking risk assessment in managing cross-border climate exposures. As financial systems in Southeast Asia become increasingly interconnected, strengthening climate risk analytics will be critical for safeguarding financial stability and supporting more resilient and sustainable capital allocation.
SGFIN Whitepaper | BT Article | SGFIN LinkedIn | Summit Panel 1 LinkedIn
Markets are Pricing Climate Risk
Indonesia’s recent US$80B market volatility is a wake‑up call: climate and nature risks are now financial risks. As highlighted in Professor Johan Sulaeman’s new Op‑Ed, “Market volatility highlights Indonesia’s overlooked climate and resource risks”, SGFIN research shows that physical climate hazards and fossil‑intensive exposures can sharply amplify credit losses, making environmental resilience a core pillar of financial stability. Recent developments in Indonesia’s resource sector further reveal how environmental governance shapes investor confidence. The path forward is clear: embed climate and natural‑capital risks into supervision, disclosure, and investment to build stronger, more resilient markets in Indonesia and beyond.
Why a Multi-Pathway Approach is Key to Southeast Asia’s Aviation Decarbonisation
Decarbonising Southeast Asia’s aviation sector will not be achieved through a single solution. As Professor Johan Sulaeman highlights, Singapore’s sustainable aviation fuel (SAF) levy is an important step in signalling commitment and establishing baseline demand for SAF in the region. The recent delay in its implementation further underscores the practical challenges of scaling SAF in Southeast Asia. However, SAF alone cannot carry the transition. Structural constraints—including limited sustainable feedstock, land-use trade-offs, food security concerns, and the high cost of alternative technologies—mean that SAF is unlikely to scale rapidly in the near term. A credible pathway therefore requires a multi-pathway approach. High-integrity carbon credits, particularly those aligned with Article 6, can complement SAF, while emerging solutions such as geological carbon credits (GCCs) offer a promising, durable removal pathway. Ultimately, accelerating aviation decarbonisation in a fast-growing region will require combining these approaches in a coherent and credible framework. Strengthening carbon market integrity and enabling diverse pathways to work in tandem will be critical to achieving a realistic and effective transition.
From Cautious Capital Deployment to Real Transition Impact
In recent discussions, Prof Johan Sulaeman, Director of the Sustainable and Green Finance Institute highlighted that Danantara’s cautious deployment reflects prudent sovereign investing and governance discipline. Yet scale alone does not guarantee transition impact. With a large fraction of Indonesia’s emissions footprint remains within existing state-owned enterprise portfolios, progress depends on clear portfolio-level targets, time-bound coal phase-down plans, and capital shifts toward renewables, storage, and grid infrastructure. The real test is whether sovereign capital can mobilise additional private investment into projects that would otherwise not proceed. Potential is evident. But implementation, transparency, and measurable outcomes will determine credibility.
Beyond Labels: Why Carbon Risk Disclosure Must Reflect Economic Reality
Recent developments involving OCBC highlight a critical issue in sustainable finance: the difference between formal sector classification and real economic exposure to transition risk. Prof Johan Sulaeman, Director of the Sustainable and Green Finance Institute underscores that climate disclosure should capture where carbon risk truly resides within portfolios. Transition risk is not confined to fossil fuel labels; markets ultimately price economic exposure, policy shifts and capital repricing. Decision-useful disclosure must go beyond taxonomy alignment.
Singlife-SGFIN Sustainable Future Index 2026
The Singlife–SGFIN Sustainable Future Index 2026, jointly developed by Singlife and Sustainable and Green Finance Institute (SGFIN), examines the intrinsic drivers shaping sustainability behaviours among Singaporeans. The SGFIN team comprise of Deputy Director Prof Weina Zhang, Michael Aleander, Bhairavee Deepak Wagh, and Asda J Pandiangan, have developed the survey questions based on behavioural framework encompassing awareness, knowledge, and ownership, and compute the index. Such approach aims to identify the gaps between sustainability intentions and actions and propose possible solutions going forward.
Singlife Press Release | Singlife Report | SGFIN Sustainable Finance Case Competition 2026 | Asia Insurance Review article | Singapore Business Review article | ESG Business article | Newsflash Asia article
Counting Carbon in MICE
Associate Professor Zhang Weina (Department of Finance) explained how large-scale MICE events generate carbon emissions across areas such as travel, catering and booth construction. Using SGFIN’s carbon calculator, she demonstrated how emissions can accumulate, underscoring the importance of measuring carbon impact as a first step towards more responsible event planning. Similar posts were shared on Facebook and TikTok.
Scaling SME Sustainability Through Non-Financial Innovation
As part of its mission to advance sustainable finance and support SME transition around the world, SGFIN contributed a case study to the “SME Best Practice Guide” published by International Finance Corporation (IFC) SME Finance Forum to share the insights on how non-financial services can unlock sustainable finance for SMEs. SGFIN’s Deputy Director, Associate Professor Zhang Weina, together with Research Associate Allan Loi, presented a Singapore-based ESG data solutions provider – ESGpedia. The case exemplified how non-financial service providers—through access to sustainability advisory, ESG data infrastructure, reporting tools, and capability development—embedded in a data-driven, partnership-led ecosystem, has enabled over 1,000 SMEs enhanced access to sustainable finance, increased competitiveness, and embedded decarbonisation strategies across regional supply chains.