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OCBC and Endeavor Singapore (EnterpriseSG) have presented the OCBC SME Get started-ESG Programme to lend a hand SMEs assess and reinforce their sustainability efficiency.
The programme supplies SMEs with a baseline sustainability evaluate, professional steering, and get admission to to sustainability-linked loans (SLLs) from OCBC.
EnterpriseSG will duvet as much as 70% of eligible prices for the yearly evaluate over 3 years, which incorporates sustainability scores, carbon footprint critiques, and certification and assurance.
OCBC expects 300 SMEs to take part and plans to provide them SLLs.
The financial institution has partnered with EcoVadis, an international ESG evaluate supplier, and ESGpedia, a regional carbon control platform, to habits the checks.
EcoVadis will evaluation SMEs throughout setting, hard work and human rights, ethics, and sustainable procurement, whilst ESGpedia will measure greenhouse fuel emissions.
Bicycle-sharing supplier Anywheel up to now labored with OCBC underneath a equivalent initiative, finishing its first ESG evaluate thru EcoVadis in 2024.
The evaluate helped determine spaces for growth, resulting in an SLL from OCBC that included year-on-year sustainability goals.
The programme builds on OCBC’s ongoing efforts to enhance SME sustainability.
Since launching the OCBC SME Sustainable Finance Framework in 2020, the financial institution has facilitated inexperienced and sustainability-linked loans for roughly 4,000 SMEs throughout Asia.
It has additionally hosted tutorial webinars protecting subjects corresponding to power potency and carbon footprint control.
Moreover, OCBC gives the SME Power Potency Evaluate instrument, evolved with Singapore’s Construction and Development Authority, to lend a hand SMEs evaluation power use and discover inexperienced financing choices.
The instrument used to be expanded to Malaysia and Hong Kong in 2024.
Linus Goh
Linus Goh, Head of International Business Banking, OCBC, stated,
“Going inexperienced is excellent for industry. Our SME and company consumers are more and more stepping as much as undertake sustainability strategies and financing to long term evidence their companies.
As huge multinational and regional corporates formalise their net-zero ambitions and decarbonisation goals, SMEs which might be sustainability-ready differentiate themselves undoubtedly and are successful new industry within the new provide chains.”
Geoffrey Yeo
Geoffrey Yeo, Assistant Managing Director of Endeavor Singapore, stated,
“There’s rising reputation that sustainability will more and more grow to be a key driving force for firms’ long-term luck. Endeavor Singapore is happy to spouse OCBC to provide the SME Get started-ESG Programme, which gives the essential equipment to make it more uncomplicated for companies to set goals, take motion, in addition to quantify their sustainability efficiency.
The programme will lend a hand equip extra firms with the very important basis to get a headstart of their sustainability adventure, and free up sustainable financing alternatives for his or her enlargement plans.”
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