SingPost Launches Quest Programme to Support SMEs in Transitioning to Sustainability
In a bid to assist smaller companies that supply Singapore Post (SingPost) in transitioning to more sustainable business models, SingPost has introduced the Queen Bee Enabled Sustainability Transition (Quest) programme. The initiative comes at a crucial time when many small- and medium-sized enterprises (SMEs) express the desire to go green but lack the necessary expertise to kickstart the process.
Why is the Quest Programme Important?
- Many SMEs struggle with understanding how to implement sustainable practices in their businesses.
- Lack of expertise among suppliers in providing accurate carbon emissions data hinders climate reporting efforts.
What Does the Quest Programme Offer?
- In-depth training workshops on environmental, social, and governance sustainability indicators.
- Guidance on measuring baseline greenhouse gas emissions and implementing decarbonisation strategies.
- Access to resources such as government grants and schemes focused on sustainability.
- Expert guidance from sustainability advisers, digital and technology expertise, and financing options.
Government Support and Sustainability Disclosures
Senior Minister of State for Trade and Industry, Ms Low Yen Ling, emphasized the importance of businesses playing an active role in Singapore’s transition to a low-carbon economy. All listed companies in Singapore will be required to make climate-related disclosures starting from Jan 1, 2025.
Pilot Programme and Future Expansion
- A pilot of the Quest programme, supported by Enterprise Singapore, will commence in November with 25 of SingPost’s SME suppliers from various sectors.
- The programme may expand to target suppliers within the value chain of other larger companies, facilitating sustainable practices and compliance with global standards.
Impact on SMEs and Sustainability Practices
Through enhanced procurement criteria that include sustainability requirements, SingPost aims to drive positive change in the supply chain and encourage SMEs to adopt sustainable practices.
This initiative not only benefits the environment but also helps SMEs enhance their competitiveness, meet evolving consumer expectations, and contribute to a more sustainable future.