Page 12 - Towards A Sustainable Future 2024

Resources Annual Reduction in CO emissions (kg)

Water (Kg CO2/ m ) 4,122.9
3
Electricity (Kg CO2/ Kwh) 68,569.5

Other (food, plastic, etc) 164,888.2
(CO2/kg)
Total 237,580.6

Table 1: Combined CO2 Emissions data from the 20 SME Companies

The environmental reviews of the 20 SMEs by the ESI teams Students & SMEs Learning
identified a total potential reduction in CO2 emissions of over
237.5 tonnes per year or an average of 11.85 tonnes of CO2 During Phase 2 of the “Towards a Sustainable Future”

emissions per company. This equates to an annual saving of project, the ‘Triple Win Formula’ was refined and applied to
about S$5,000 per SME company. These savings are similar to significant effect. Students, staff SME business owners, and
those determined from the Phase 1 of the project. Given that employees gained invaluable experience and insight on
there are about 220,000 SME companies in Singapore, these driving the business towards sustainability by cutting the
annual average savings equate to about 2.6 million tonnes use of precious natural resources and carbon emissions.
of CO2 emissions per year, with a cost saving of around Furthermore, the strong connection between sustainability
S$1.1 billion annually. As for Phase 1 of the project, Phase and reduced business operational costs was highlighted.
2 has again proven the potential of applying the Triple-Win
Formula to Singapore’s SME sector. If applied nationally, the The students learning experience provided meaning and
Triple-Win Formula would facilitate the nation’s transition to purpose to their shared understanding of the importance
a green economy and help Singapore meet its obligations of the Singapore Green Plan 2030, and the urgent need to
under the 2015 Paris Agreement, and its journey to net-zero tackle Singapore’s greenhouse gas emissions to meet its
carbon emissions. goals under the 2015 Paris Agreement. Furthermore, upon
graduation, the students have enhanced their prospects to

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