- New QUEST programme launched to support SingPost and SME suppliers in sustainability efforts.
- Programme aims to bridge gap between large companies’ sustainability expectations and SME expertise.
- Collaboration involves SBF, SingPost, EY, and OCBC Bank to empower SMEs in sustainability practices.
Singapore’s logistics sector takes a big step towards sustainability with a new programme to help small businesses go green.
New Programme to Help Small Businesses Go Green
According to SingPost, a new programme called QUEST was launched on 18 October 2024.
QUEST stands for Queen Bee Enabled Sustainability Transition.
The programme will help Singapore Post (SingPost) and its small & med-sized suppliers become more eco-friendly.
SingPost is the first logistics company to join this programme.
About 25 small companies that work with SingPost will take part at first.
Why is This Important?
Starting 1 January 2025, all listed companies in Singapore must report how they affect the climate.
Big non-listed companies must do this from 1 January 2027.
Many small companies don’t know how to do this yet.
The QUEST programme will teach them how.
| Date | Requirement |
|---|---|
| 1 January 2025 | Listed companies must report climate impact |
| 1 January 2027 | Large non-listed companies must report climate impact |
Who is Behind This Programme?
The Singapore Business Federation (SBF) started this programme.
They are working with Ernst & Young LLP (EY) and OCBC Bank.
These groups signed an agreement at SingPost Centre.
Ms Low Yen Ling, a Senior Minister of State, watched them sign.
What Will the Programme Do?
The QUEST programme will offer workshops led by experts.
These workshops will teach small companies how to:
- Measure their carbon emissions
- Find ways to reduce these emissions
- Meet new environmental rules
SingPost has also changed its rules for choosing suppliers.
Now, suppliers must show they care about the environment too.
What People Are Saying
Mr Kok Ping Soon, CEO of SBF, said, “SBF is dedicated to adopt a proactive approach to empower SMEs in elevating their sustainability efforts and enhancing their market competitiveness.”
This means SBF wants to help small companies become more eco-friendly and competitive.
Ms Michelle Lee from SingPost said, “Embracing these practices is crucial for SMEs to maintain their long-term viability and competitiveness in an increasingly sustainability conscious business landscape.”
She believes small companies need to go green to stay in business long-term.
How OCBC Bank Will Help
OCBC Bank will provide money and advice to help small companies go green.
Mr Tan Teck Long from OCBC said, “We are committed to support SMEs with innovative financial solutions and suitable advisory services that help them drive sustainable development in Singapore and the region.”
This means OCBC will help small companies find ways to pay for green changes.
The bank’s support is similar to how it helps young people learn about money through special accounts.
Challenges and Opportunities
Some small companies might find it hard to meet new environmental rules.
They may not have the knowledge or money to make big changes quickly.
But going green can also help small companies win more business.
Big companies now want to work with suppliers who care about the environment.
This is part of a bigger trend, like how SingPost is improving its services in other areas too.
Do you think small companies in Singapore are ready to go green?
