DBS and Sheng Siong are planning to engage up to 1,000 small and medium enterprises (SMEs) in the supermarket operator’s supply chain network over the next two years, through a collaboration that will jointly introduce a sustainability programme.
On Monday (Feb 26), both parties said the programme will be “right-sized” to meet the specific needs of SMEs in the wholesale trade and retail sector.
It will help these businesses to identify, develop and implement decarbonisation plans.
Components of the programme will range from conducting introductory workshops to understand the basics – such as sustainability principles, reporting and tracking – to sector-relevant solutions such as the use of energy-efficient systems, waste reduction, and recycling.
In addition to upskilling courses and green solutions, DBS said it will offer sustainable financing solutions at preferential rates.
The bank will also provide guidance on how to tap relevant government grants to “ease the cost burden of companies who wish to go green”.
Sheng Siong added that it is actively working to reduce both its own environmental footprint and that of its supply chain by encouraging SMEs within its network to embrace sustainable business practices.
“By empowering our suppliers to operate more efficiently and decarbonise their operations, we can collectively minimise the environmental impact of our supply chain,” said Lin Ruiwen, executive director of Sheng Siong.
The initiative also represents the first-ever collaboration between two SkillsFuture “Queen Bee” companies, or industry leaders with strong sectoral expertise, market leadership and ability to influence companies, particularly SMEs.
Introduced in 2020, the SkillsFuture Queen Bee initiative aims to support skills and workforce capability development in SMEs.
Tan Kok Yam, chief executive of SkillsFuture Singapore, believes the collaboration between DBS and Sheng Siong will benefit the businesses involved, help the environment, and contribute towards Singapore’s Green Plan 2030.
“We also hope to see more of our SkillsFuture Queen Bee partners do likewise – come together organically to share and expand their network so that more SMEs will benefit from their support.”
