New sustainability programme launched to support SingPost’s SME suppliers in climate reporting
Initiative is developed jointly by Singapore Business Federation, Singapore Post, EY, and OCBC
SINGAPORE Post’s (SingPost) suppliers will receive support for their sustainability journey through a newly launched Queen Bee Enabled Sustainability Transition programme.
Developed by the Singapore Business Federation, SingPost, EY, and OCBC, the initiative aims to help small and medium-sized enterprise (SME) suppliers meet the growing climate-related reporting requirements.
On Friday (Oct 18), the four organisations signed a memorandum of understanding (MOU) at SingPost Centre to formalise their collaboration.
The new programme addresses a gap in expertise among SME suppliers in providing accurate carbon emissions data – a key component of climate reporting.
From Jan 1, 2025, all listed companies in Singapore must make climate-related disclosures. Large non-listed companies, defined as those with annual revenues of at least S$1 billion and total assets of at least S$500 million, have to comply from Jan 1, 2027.
The programme therefore aims to bridge the gap between larger companies’ expectations and suppliers’ limited expertise in providing accurate carbon emissions data for climate reporting.
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Senior Minister of State for Trade and Industry Low Yen Ling, who witnessed Friday’s MOU signing, said: “While the government is committed to supporting businesses as Singapore transitions to a low-carbon economy, we need businesses to play an active role in this shift.
“Large enterprises, in particular, play an essential role in leading and driving sustainability efforts.”
As part of the initiative, EY will offer structured training and tailored strategies to help participants develop practical decarbonisation skills and meet regulatory requirements.
Meanwhile, OCBC will provide SMEs with sustainable financing options, enabling them to invest in decarbonisation technologies and practices.
Supported by Enterprise Singapore, the programme is set to include around 25 of SingPost’s SME suppliers in its first cohort, with potential for expansion, depending on participants’ feedback.
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