Study shows Singaporeans more concerned about economy than climate change

Singapore scored low on its commitment to take action to reduce climate change with 28%, compared to the Asia Pacific average of 34%.

Singaporeans are more concerned about the stability of the global economy, terrorism and pandemic than they are about climate change. This was revealed by the latest findings of the HSBC Climate Change Monitor, which HSBC launched on Tuesday. According to the survey, only 12% in Singapore ranked climate change as a top concern. This is amongst the lowest across the countries in the survey - only France, United Kingdom and USA scored lower on this, according to an HSBC report.

Globally climate change takes third place amongst global issues, which also includes poverty, natural disasters and violence; and has consistently been among the top three concerns since 2008.

This is the first time that Singapore, Japan and Vietnam are covered in the annual survey, which was launched in 2007. Conducted between 25 August and 10 September, the survey looks into consumers’ attitude and behaviour towards climate change in 15 countries in the developed and developing world. At least 1,000 consumers were surveyed in each country. The HSBC Climate Change Monitor also serves as an indicator of global trends and implications for roles to be taken by governments, businesses, NGOs and individuals worldwide on the issue of climate change.

Singaporeans’ focus on the economy was also apparent when they were asked about government spending. Over half of respondents around the world felt that governments should be spending more on healthcare than climate change (56%). Singapore respondents shared similar sentiments, with 67% agreeing that the government should spend more on healthcare than climate change. In addition, over half of Singapore respondents (53%) also felt that the government should be spending more on economy, as opposed to only 38% globally.

Alex Hungate, CEO for HSBC in Singapore said, “The challenge of balancing economic growth and climate change issues is a critical issue for governments, businesses and individuals around the world, especially given the volatility created by the global financial crisis. Anyone running a business or an economy must be looking to create a model that is successful in the long-term, and environmental sustainability is crucial to the long-term success of any business or economy. National policies that provide incentives for investment in clean technology, pricing of fossil fuels in ways that reflect their true economic and social costs, and measures to encourage consumers to use energy more efficiently, have the potential to unleash a significant pool of investment that can serve as a powerful engine for a new economic and business growth.”

Sentiments toward climate change
Across the world, concern; confidence; effort and optimism in tackling climate change is higher in the emerging economies. China is tops for concern, confidence and effort in tackling climate change and Vietnam tops the table for optimism that climate change can be stopped.

The global findings also show that levels of concerns, confidence and commitment have stayed fairly stable between 2007 and 2010. However, the level of optimism towards climate change has steadily declined from 23% in 2007 to 16% in 2010.

Geographically, the Asia Pacific region ranked higher then the rest of the world on levels of concern, confidence, effort and optimism in tackling climate change.

In contrast, scores for Singapore are lower than the Asia Pacific average and in most instances, also lower than the average for the rest of the world. On whether climate change is an issue that warrants concern, only 34% of Singapore respondents acknowledge that it is an important concern, as opposed to the Asia Pacific average of 41% and the Rest of World average of 35%.

23% of Singapore respondents are confident that people and organisations are doing what is needed to tackle climate change. This is also lower than the Asia Pacific average of 28%, although it is higher than the Rest of World average (10%).

On their commitment to take action to reduce climate change, Singapore only recorded a score of 28%, lower that the Asia Pacific average of 34% and the Rest of World average of 32%.

Mr Hungate said, “The HSBC Climate Change Monitor shows a need for greater awareness on climate change in Singapore. HSBC is responding by helping our staff, customers and the community-at-large to understand the benefits of a low-carbon economy and foster greater understanding of climate change. Hundreds of volunteers from HSBC work with our business partners and community partners in the environmental sector to conduct biodiversity surveys in local nature areas; and to provide talented Singaporean youths with opportunities to participate in overseas environmental research projects.”

Roles of governments, individuals and organisations in combating climate change Singapore also emerged among the top 5 countries which look to government policies to tackle climate change. Most Singaporeans think that large-scale government funded initiatives will be effective in tackling climate change (57%) and almost half think that the introduction of a carbon tax is an effective measure (48%). Over a third favour emissions trading as a policy against climate change (34%).

Taking a closer look at the roles of individuals and organisations in tackling climate change, the global findings show that governments and businesses are now seen to play major roles in dealing with climate change, and there is an expectation for non-governmental organisations (NGOs) and individuals to play major roles in tackling climate change as well. In contrast, Singapore respondents think that government and NGOs should play major roles in tackling climate change.

Singapore respondents still look to businesses to continue playing an active role in dealing with climate change. Over half of Singapore respondents think that businesses should invest more resources to deal with climate change. It is also clear that that green business practices are well-regarded in Singapore, as 65% say that they prefer environmentally-friendly businesses and products.

On the personal front, respondents across the countries cited recycling as the top measure they can take to combat climate change (26%) This is followed by reducing the use of heating and air-con appliances (24%) and energy saving home improvements (23%).

In Singapore, reducing the use of heating and air-con appliances is the most popular way for dealing with climate change (35%), followed by recycling at 26% and energy saving home improvements at 22%.

Mr Hungate added, “Climate change is an issue that can connect us across communities as it is beyond one country, one company, or one person to effect change on their own. When we recognize that we are all in this together and that we must take concerted action, we can unlock the potential for positive change and make a real difference. Sustainability is at the heart of HSBC’s agenda. We feel that it is part of our responsibility to engage the community, enhancing understanding of climate change and working together with like-minded organisations and people to tackle the challenges.”