Salesforce, the customer relationship management (CRM) provider, has released research which found that 85% of managers in Singapore recognise the importance of technology in achieving a net zero target by 2050, with 43% noting that the role of technology would be ‘very important’.
The Trail to Net Zero for Singapore report, which surveyed over 1,000 managers from small, medium and large businesses in Singapore, reveals business sentiments towards the country’s net zero targets, and highlights how cloud technology can help to reduce energy consumption and carbon emissions.
Key findings include:
Cloud migration enables businesses to deliver energy savings and cost efficiencies
With Singapore’s data centre capacity estimated to grow at a CAGR of 8% between 2022 and 2030, businesses can significantly reduce energy consumption and carbon emissions by taking steps such as moving to the cloud.
A recent study* found that cloud migration will enable businesses to achieve energy savings of 79%. If cloud operators rely on 100% renewable power, Singapore businesses will likely be able to reduce carbon emissions by 19.3 million metric tonnes between 2022-2030, equivalent to greenhouse gas emissions from 4 million passenger cars in Singapore. This in turn results in US$4 billion (approximately S$5.6 billion) in cost savings.
Businesses show strong support for Singapore’s net zero target
Eight in ten (81%) respondents say they support Singapore’s net zero target by 2050. The level of support is even higher (88%) among larger businesses with more than 100 employees. According to the Salesforce report, 83% of managers also support the government’s initiative to provide subsidies and incentives to businesses for the development of renewable energy technologies.
Transition to net zero creates jobs
Managers are three times more likely to think that achieving a net zero economy by 2050 in Singapore will result in more jobs than less jobs (39% compared to 13%).
Businesses are more conscious of emissions across their value chain
Six in 10 (61%) managers surveyed said they are more likely to purchase products or services from supplying businesses with a net zero target.
Addressing climate change requires multi-stakeholder collaboration
Respondents agree that both the government (54%) and businesses in their industry (66%) can continue to do more to tackle climate change.
The report provides a number of policy recommendations to help accelerate Singapore’s trail to net zero. They include:
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| Source: Salesforce infographic. Recommendations on how to accelerate Singapore’s trail to net zero. |
- Developing cutting-edge climate technology
- Increasing investment in cloud
- Addressing the sustainability skills gap
- Using environmental artificial intelligence (AI)
- Enhance international collaboration
- Adopting a shared digital platform to track emissions
Sujith Abraham, Senior VP and GM, Salesforce ASEAN said: “Technology can play a transformative role in climate action. This includes digital platforms and dashboards to help businesses drive better accountability, cloud computing adoption to drive lower carbon emissions, use of environmental AI and other cutting-edge climate innovations.”
Jared Ragland, Senior Director, Policy — APAC at BSA | The Software Alliance said: “BSA and our members are fully committed to contributing to the fight against climate change and are attuned to the responsibility that global companies have to advance sustainability while supporting communities in their efforts to do the same.
"Digital transformation is enabling businesses in all sectors to do everything from reducing energy and water use to reducing the climate impact of the buildings they fill. This Salesforce report shows how important digital tools are toward achieving sustainability goals, in Singapore and around the world.”
Lim Boon Pin, Co-Chair of SGTech's Sustainability Committee said: “The increasing migration to cloud is a major contributing factor to Singapore being home to the highest digital traffic in the Asia Pacific.
"SGTech supports the shift to cloud and is active in championing dialogue between local data centre players and the government to strive towards decarbonisation of data centres within our shores. As we transit into a greener economy, we need our businesses to embrace the challenges, identify opportunities that come with them and create products and services that solve them.”
Explore
- Read the Trail to Net Zero for Singapore report (PDF)
- View the Trail to Net Zero for Singapore infographic
- Browse the Trail to Net Zero for Singapore YouGov survey (PDF)
*S&P Global Market Intelligence (2021): The Carbon Reduction Opportunity of Moving to the Cloud for APAC (PDF)
