In Singapore, businesses exhibit a conservative outlook, with 23% expressing uncertainty or pessimism about their future. While sustainability (58%) and digital transformation (55%) are the top priorities for organizations, only 50% have a defined sustainability strategy that they actively implement.
Among Singapore businesses, 58% have already established a sustainable IT strategy, and an additional 33% plan to do so within the next year. Interestingly, sustainability does not rank among the top five business challenges for these organizations.
A recent report by Paessler highlights the disconnect between sustainability practices and digital transformation initiatives in Singapore businesses. Despite sustainability being a top priority, organizations struggle to integrate it with their digital transformation strategies. Barriers such as balancing ESG metrics with growth targets, cost concerns, lack of government clarity, and ROI measurement challenges hinder the adoption of sustainability practices. Additionally, the report emphasizes the need for a comprehensive IT monitoring framework to support sustainable IT strategies and optimize energy consumption, reduce emissions, and quantify resource savings.
As Singapore focuses on digital transformation and sustainability to enhance productivity and efficiency, businesses often view sustainability and profitability as contradictory. However, integrating the right values and data-driven decision-making can lead to cost efficiency and a competitive advantage. The report emphasizes the importance of bridging the gap between digital transformation and sustainability through robust IT strategies and monitoring frameworks to achieve resource optimization and economic benefits.
Furthermore, the report reveals that sustainability is not seen as a top challenge by businesses, despite being one of the top three priorities for the next three years. Reputation, industry standards, and regulatory compliance are key drivers for adopting sustainable frameworks. The technology, telecom, and datacenter sectors are leading in implementing sustainable IT strategies, while the public sector shows potential for future adoption.
Digital transformation plays a crucial role in enabling sustainability by improving efficiency, reducing environmental impact, and supporting sustainability goals. Leveraging digital technologies can help monitor energy usage, reduce waste, and optimize supply chains. An effective IT monitoring backbone is essential to enhance knowledge and implementation of sustainable IT strategies.
Overall, the report emphasizes the need for Singapore organizations to align sustainability and digital transformation efforts to drive positive environmental impact, cost efficiency, and business growth.