KPMG and SID Propose ESG Hubs, Green Financing, and Carbon Tax Transparency in Budget 2025

KPMG Singapore and the Singapore Institute of Directors (SID) have jointly released their Budget 2025 Proposal, “Designing Singapore’s Future Together: Ready, Refreshed, and Resilient for Tomorrow,” outlining strategies to position Singapore as a global leader in sustainability, innovation, and economic resilience. The proposal emphasizes accelerating ESG adoption through national frameworks, a centralized ESG reporting hub, and financial incentives like blended finance and decarbonization grants to support green transitions. Workforce development recommendations focus on leadership competency benchmarks, micro-credentialing for skills like AI and sustainability, and external board evaluations to strengthen governance and global competitiveness. To drive innovation, the proposal advocates for increased funding for ethical AI governance, R&D, and director training, alongside enhanced tax governance for companies receiving incentives. These initiatives aim to enable enterprises to adopt sustainable practices, foster innovation, and contribute to Singapore’s long-term economic growth. Resources: https://esgnews.com/kpmg-and-sid-propose-esg-hubs-green-financing-and-carbon-tax-transparency-in-budget-2025/