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SICCI hosts a dialogue session on the topic of Green Transition.

SICCI chairman Neil Parekh introduced Hong Tat Chee and Alvin Tan, SICCI’s advisor, to host a dialogue with our members on Green Transition: The challenges and opportunities for SMEs.

Sustainability expert Dr Darian McBain was invited to moderate the dialogue. We had 150 dignitaries, members and associates in attendance at One Farrer Hotel.

In summary, the Ministers outlined four “Ts” for a successful and effective transition to a green economy and the importance for SMEs to adopt and implement sustainability policies.

The 4Ts are.

Trust: Singapore government has a trusted and well-functioned regulatory system which implements sustainability policies, but they emphasise the need to have consistency and transparency in ESG data for industry implementation.

Technology: Singapore becomes a launchpad for companies to implement green technology using platforms such as Cloud infrastructure, APIs that enable data interchange, Blockchain-based platforms for trust and the use of Data and AI to report action and trigger outcomes.

Training: The institutes of higher learning(IHLs) are well equipped to prepare workers for the green transition with an early and higher learning focus.

Tripartite: The Government works closely with unions and TACs to rally the companies to implement the changes and create a digital infrastructure focusing on SMEs. A strong Tripartite partnership of Government, Businesses and People will be the key to making Singapore a Sustainability hub.

MOS Mr Alvin Tan also introduced GERI (Green Economy Regulatory Initiative)to the audience, emphasising, “Despite our drive towards sustainability, don’t take your eyes off cost. Despite costs, don’t take your foot off the pedal towards sustainability.”

SICCI Chairman, Mr Neil Parekh, noted, “many important announcements on helping small and medium enterprises transition into the green economy were made during Budget 2023, which included the extension of the energy efficiency grant by a further year to encourage companies to be more energy efficient, this is the opportune time for SMEs to embark on the sustainability initiatives supported by Government.

Photos and article courtesy: SICCI May month Newsletter

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