Called the SME sectoral net zero transition programme, the initiative will also match companies with partners for funding and provide them with green solutions that meet their needs.
The programme was announced by Transport Minister Chee Hong Tat at the UN Global Compact Network Singapore Summit on Oct 3. It is a joint effort by the Singapore Business Federation (SBF) and leading management consulting firm Bain & Co.
They have already conducted a pilot project with 21 food manufacturers from July to August and helped 80 per cent of them to establish their emissions baselines for the first time.
Mr Chee, who is also Second Minister for Finance, said: "I am heartened to hear of the pilot's success and we are now going to expand this to support more SMEs in food manufacturing, and later on to scale up to other sectors."
He noted that a new survey by the SBF and Bain found that SMEs further along in their decarbonisation journeys were 1 1/2 to two times more likely to realise benefits, from achieving cost savings to attracting new customers.
For example, People Bee Hoon Factory was able to reduce electricity costs by 30 per cent by installing solar panels, Mr Chee said. The company also optimised its washing process and used thinner packaging material, resulting in a 50 per cent reduction in water consumption.
Bu hikaye The Straits Times dergisinin October 04, 2024 sayısından alınmıştır.
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Bu hikaye The Straits Times dergisinin October 04, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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