To support local businesses generate more accurate emissions inventory reflective of local conditions, Singapore Business Federation (SBF) will be partnering Agency for Science, Technology and Research (A*STAR), PwC and Singtel to establish a Singapore Emission Factors Registry (SEFR). This was announced today by Minister for Sustainability and the Environment and Minister-in-charge of Trade Relations, Ms Grace Fu, at Ecosperity Week 2024. 

Supported by the Ministry of Trade and Industry and Ministry of Sustainability and the Environment, the SEFR will consist of a database of emission factors tailored to Singapore’s context. These emission factors (EFs) act as conversion factors that translate various business activities into corresponding greenhouse gas emissions. The SEFR supports existing reporting tools and solutions in the ecosystem that help enterprises automate their sustainability reporting process.

According to SBF’s National Business Survey 2023/2024, three quarters of local businesses say they have implemented or plan to implement at least one ESG (Environmental, Social & Governance) area in their business. However, 6 in 10 say they need support in the form of access to funding for ESG transformation, improved clarity on ESG metrics for reporting, and access to technology for ESG tracking and measurement. 

Currently, most Singapore businessesmake use of EFs from international sources such as the US Environmental Protection Agency (EPA) and UK Department for Environment Food and Rural Affairs (DEFRA) for their sustainability and carbon emissions reporting, especially for Scope 3 emissions. The SEFR which contains localised Emission Factors (EFs) will help Singapore-based businesses to track and report their emissions more accurately, and in turn, empower businesses to make informed decisions on how to reduce their carbon footprint based on their environmental impact.

The EFs will be developed in phases with an initial baseload comprising data collected and consolidated from various government agencies ready by the end of 2024. This includes EFs related to transportation, water, general waste, and energy. EFs for new categories and activities will be developed and released based on industry consultations and demand.

Mr Kok Ping Soon, Chief Executive Officer of SBF said, “The SEFR will be a critical and timely resource for Singapore to support companies to overcome their current challenges and accelerate their carbon accounting journey. With the development of localised EFs, local businesses will be able to report their emissions more accurately. The SEFR is part of a broader suite of programmes that SBF will be progressively rolling out to support businesses in their net zero transition. SBF will work closely with ecosystem partners to support and mobilise the business community in the adoption of sustainability tools, and solutions, especially for SMEs.”