Supporting SMEs to Adapt to Global Emphasis on Sustainability and Green Technologies

32 Mr Lee Hong Chuang asked the Deputy Prime Minister and Minister for Trade and Industry (a) what further measures, if any, will the Ministry be taking to support small- and medium-sized enterprises (SMEs) adapt to the growing global emphasis on sustainability and green technologies; and (b) what further plans does the Ministry have, if any, to help these SMEs remain competitive in international markets while meeting environmental standards.

Mr Gan Kim Yong: The Government is committed to supporting our businesses, including the small and medium enterprises (SMEs), to prepare for a low-carbon economy and address the opportunities from rising demand in green technologies, products and services.

In May last year, EnterpriseSG launched the SME Sustainability Hub, a one-stop digital platform to help SMEs access relevant support and resources as they navigate their sustainability journey. The key resources available for SMEs include: a) assistance to meet the environmental requirements and standards of financial institutions and corporate customers. For example, the SME Sustainability Reporting Programme and Sustainability Reporting Grant are schemes that help SMEs build foundational sustainability reporting capabilities; b) training and capability-building programmes – under the Enterprise Sustainability Programme, SMEs can access a series of sustainability playbooks and training courses on key topics, including decarbonisation and sustainable finance; and c) funding support, for example, the Enterprise Development Grant supports SMEs in developing sustainability strategies, products and services, and adopting green technologies to grow their businesses.

The Government is working closely with the trade associations and chambers and the industry to continually review our suite of support measures and schemes for SMEs, to enable Singapore businesses and workers to thrive in a low-carbon future.