Enterprise Singapore launches S$180 million Enterprise Sustainability Programme to help at least 6,000 enterprises build sustainability capabilities
27 October 2021
The Enterprise Sustainability Programme (“ESP”) was launched on 1 October 2021 to support enterprises in building sustainability capabilities to support Singapore businesses on sustainability initiatives, and to capture new opportunities in the green economy. In its media release, Enterprise Singapore (“ESG”) stated that up to S$180 million will be set aside for the programme. At least 6,000 enterprises are expected to benefit from the programme over the next four years.
Set out below are the key components of the programme:
- Develop sustainability capabilities in enterprises: ESG will provide subsidised training for enterprises that are just starting out on their journey, to build awareness and knowledge of sustainability, access relevant tools and resources, and develop a clear plan for capability building over the longer-term. ESG will support projects relating to sustainability capacity development and innovative sustainable products / services development.
- Strengthen sector-specific capabilities: As different sectors will have different needs, ESG will partner Trade Associations and Chambers (TACs) to develop customised approaches for each sector to meet their respective needs. ESG will, among other things, work with the Singapore Business Federation to facilitate cross-sector collaborations.
- Foster a vibrant and conducive sustainability ecosystem: In addition to training, there is also a need to create a vibrant and conducive ecosystem for sustainability. ESG will work with partners to strengthen sustainability capabilities and develop more sustainability services. For example, ESG has launched the Enterprise Financing Scheme - Green (“EFS-Green”) together with partner financial institutions (“FIs”) to enable better access to green financing for enterprises that are project developers, system integrators and technology and solution enablers which develop enabling technologies and solutions to reduce waste, resource use or greenhouse gas emissions, especially in sectors of clean energy, circular economy, green infrastructure and clean transportation. ESG will provide 70% risk-share to catalyse the lending from partner FIs. EFS-Green is open for applications from 1 October 2021 until 31 March 2024.
The following materials are available on the Enterprise Singapore website www.enterprisesg.gov.sg and Ministry of Trade and Industry website www.mti.gov.sg:
- Media Release: Enterprise Singapore launches Enterprise Sustainability Programme to support enterprises in building sustainability capabilities
- Opening remarks by Minister for Trade and Industry Gan Kim Yong at the Launch of the Enterprise Sustainability Programme
- Opening remarks by Minister of State for Trade and Industry Low Yen Ling at the Launch of the Enterprise Sustainability Programme
- Key components of Enterprise Sustainability Programme
- Overview - EFS Green