UOB and Enterprise Singapore have launched the Sustainability-Linked Advisory, Grants and Enablers (SAGE) programme, concentrating on small and medium-sized enterprises (SMEs).
This initiative goals to simplify sustainability-linked financing for SMEs, providing preferential mortgage charges from UOB for these assembly pre-agreed sustainability efficiency targets (SPTs).
The SAGE Programme entails collaboration with sustainability service companions together with CDP, Convene ESG, M1, Paia Consulting, PwC Singapore, and TÜV SÜD.
This partnership gives SMEs with a streamlined method to setting and reaching SPTs.
The programme addresses considerations highlighted in a latest UOB survey, the place solely 40% of companies had adopted sustainability practices attributable to excessive prices, lack of understanding, and inadequate manpower.
SAGE goals to scale back the time, price, and assets required for SMEs to set SPTs and safe financing.
SMEs can select from three pre-defined, sector-specific SPTs, validated by Environmental Assets Administration (S) Pte Ltd to make sure alignment with world Sustainability-Linked Mortgage Rules.
These targets deal with decreasing greenhouse gasoline emissions, certifying administration techniques, and enhancing ESG scores.
UOB provides preferential pricing via its community of sustainability companions, with help from Enterprise Singapore overlaying as much as 85% of the prices for ESG digital platforms, advisory providers, and certifications wanted to fulfill SPTs.
Lim Lay Wah
Lim Lay Wah, Group Head of Sector Options Group & Monetary Establishments Group, UOB, stated,
“The SAGE Programme sees an industry-first collaboration with main {industry} companions to present our SME shoppers a seamless expertise in implementing sustainability initiatives with pre-approved sustainability efficiency targets.
The one-stop entry will join them to a community of sustainability service companions to advance their inexperienced transition.”
Geoffrey Yeo
Geoffrey Yeo, Assistant Managing Director of Enterprise Singapore, stated,
“With rising deal with web zero from governments, traders and shoppers, sustainability is not only a good to have for companies.
This programme with UOB gives Singapore enterprises with clear targets and the assets to develop their sustainability capabilities. Enterprise Singapore encourages our firms to faucet this programme to enhance their sustainability efficiency and stay aggressive.”
Featured picture: UOB (seated third from left) and sustainability service companions , (seated from left) Paia Consulting, TUV SUD ASEAN, PwC Singapore, M1 and CDP signing the co-operative agreements, with witnesses from Enterprise SG and UOB (standing).
