ESG launches Enterprise Sustainability Programme to help companies go green

THE Enterprise Sustainability Programme (ESP) - designed to support Singapore businesses on sustainability initiatives, and to capture new opportunities in the green economy - was launched today by Minister for Trade and Industry Gan Kim Yong.

Enterprise Singapore (ESG) will set aside up to S$180 million for the programme, which will support training workshops, capability and product development projects, and key enablers such as certification and financing.

The programme was first announced at Budget 2021 and at least 6,000 enterprises from a variety of sectors are set to benefit from it over the next four years.

Support for the growth of sustainable enterprises will come on three levels - developing enterprises' capabilities in sustainability; strengthening sector-specific capabilities; and fostering a vibrant and conducive sustainability ecosystem.

"Concerns on climate change are driving governments, corporates and consumers to place a greater emphasis on reducing carbon footprint and establishing more sustainable practices," said Mr Gan in his opening remarks. "The Singapore Green Plan 2030 is our national roadmap to ensure Singapore remains a green and liveable home, while tapping sustainability as a new avenue of growth."

He added that many businesses are "keen to get started" and in the past year, ESG has seen companies ranging from the maritime to lifestyle and services sectors, looking for support to embark on various sustainability efforts.

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"Indeed, more can be done to build up and strengthen Singapore's sustainability ecosystem," Mr Gan said. "In particular, we need to help enterprises to build knowledge and capabilities in sustainability, as they are at different stages of the journey and face diverse challenges."

Partnerships with industry partners, corporates, trade associations and chambers (TACs), and various government agencies will be key to the programme, he added. "For a start, ESG will partner Pricewaterhouse Coopers, Global Compact Network Singapore and Singapore Environmental Council to develop relevant training workshops, which are expected to start from the first quarter of 2022."

Mr Gan also said that as different sectors will have different needs, ESG will partner the TACs to develop customised approaches for each sector to meet their needs. Several TACs, such as the Singapore Furniture Industry Council, Singapore Contractors Association Limited, and Textile and Fashion Federation, have already expressed their interest.

The Singapore Business Federation will also be looking to facilitate cross-sector collaboration with Enterprise Singapore, he shared.

As part of the launch, Minister of State for Trade and Industry Low Yen Ling also paid a visit to Commune, Koda’s in-house brand, to learn more about. about its sustainability efforts.

She said the homegrown furniture maker is an early mover and has differentiated itself from its peers by leveraging sustainability as a competitive advantage to capture consumer demand in key markets like the US and Europe.

Koda develops and produces high-grade products in an environmentally responsible manner and some of its green efforts include carefully selecting materials to minimise environmental impact, maximising resource efficiency by reducing, recycling and reusing waste, and ensuring occupational health and safety in manufacturing operations.

The Enterprise Development Grant and Enterprise Financing Scheme to support new areas in sustainability will also be enhanced, and ESG will work with the Singapore Standards Council and Singapore Accreditation Council to develop green standards and accreditation programmes, and a standards mapping tool for sustainable practices to support Singapore's shift towards a green economy.

Png Cheong Boon, chief executive officer of ESG, noted that Singapore companies recognise the need to integrate sustainability into their businesses in order to remain competitive in the local and global economy.

"The ESP aims to support Singapore companies, especially our SMEs, at different stages of their sustainability journey to build capabilities and capture new opportunities," he said.

Enterprises that are interested in the programme can visit www.enterprisesg.gov.sg/ESP for more information.