BIZSpoke | 11 October 2024 - SBF Launches NetZeroHub.SG to Assist Singapore Businesses in Accurate Carbon Emissions Reporting

11 OCTOBER 2024

SBF Launches NetZeroHub.SG to Assist Singapore Businesses in Accurate Carbon Emissions Reporting

SBF has launched NetZeroHub.SG, a free platform featuring the

Singapore Emission Factors Registry (SEFR) and a resource portal to help local businesses calculate their carbon emissions using 200 Singapore-specific factors. Announced on 4 October by Senior Minister of State of the Ministry of Sustainability and the Environment Koh Poh Koon, the SEFR was developed by SBF and A*Star, with contributions from Singtel and PwC Singapore, addressing the need for accurate emissions data.

The platform currently covers eight categories and will expand from 2025 to include emissions factors for other sectors such as logistics, information and communications technology, cleaning services, and security services, which are common across a large majority of Singapore businesses, enabling them to report Scope 1, 2, and eventually Scope 3 emissions.

To find out more, please reach out to us at [email protected].

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WHAT'S NEW

SBF and Bain Unveil Net Zero Transition Programme for SMEs

SBF and Bain launched the SME Sectoral Net Zero Transition Programme on 3 October to support SMEs by connecting them with decarbonisation experts and funding providers with green financing solutions. A pilot with 21 food manufa cturers slashed emissions by up to 70% and halved energy costs. With plans to scale to 1,000 companies in five years, SBF is driving a major shift across industries. A survey of 476 SMEs revealed over 34% are progressing in decarbonisation, spurred by regulatory demands and significant cost savings. Click here to view survey findings.

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Singapore-Korea Forum Witnessed 10 MOUs to Strengthen Bilateral Trade

SBF and the Korea Chamber of Commerce and Industry (KCCI) co-hosted the Singapore-Korea Business Forum, held in conjunction with President of South Korea Yoon Suk Yeol's state visit to Singapore. President Yoon graced the event which gathered over 300 business, industry, and government leaders. Minister for Manpower and Second Minister for Trade and Industry Tan See Leng, and South Korea's Minister of Trade, Industry and Energy Ahn Duk-geun, witnessed the signing of 10 MOUs across various business sectors from both nations.

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SMEs At Risk of Tech Fatigue Without Critical Skills and Expertise

In an op-ed on 4 October, SBF Chief Smart Technologies Officer Lee Yee Fung outlined the digitalisation challenges facing Singapore SMEs, including security risks and rapid tech changes. While 77% of businesses have adopted digital solutions, SMEs struggle with high costs, cybersecurity threats, and lack of expertise. SBF supports digitalisation through initiatives like the CTO-as-a-Service platform. Mr Lee called for more government funding and stronger cybersecurity resilience to address increasing risks and integration challenges.

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#ICYMI

SM Lee Honoured at SBF Appreciation Dinner; Proceeds Support Five Key Charities

On 30 September, SBF hosted an appreciation dinner for Senior Minister Lee Hsien Loong, with Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong, and over 800 business leaders in attendance. SM Lee addressed the urgent global challenges businesses face and underscored workforce growth and productivity as vital to Singapore's economic future. Proceeds from the dinner will support five key charities: CDAC, the Eurasian Association, the SBF Foundation Employability Fund, SINDA, and Yayasan Mendaki.

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SBF National Business Survey 2024 – Scaled Internationally Edition

Have your say by participating in our SBF National Business Survey 2024 – Scaled Internationally Edition and share the needs, challenges, and support required by your company for internationalisation.

All responses will be treated with the strictest confidentiality. Only aggregated information will be released in any published form. Email [email protected] if you require any assistance regarding the survey.

SOCIALLY IMPACTFUL

In Their Shoes: What Will You Choose To Do?

Many individuals and families in our community struggle daily with the choice between upgrading their skills and spending the day working to meet their immediate needs. Join us for "In Their Shoes" on 17 October, from 2:30pm to 5:30pm, to step into their world and experience their challenges firsthand. Registration closes on 14 October. For assistance, contact [email protected]

This event is fully subsidised by SBF Foundation.