Page 11 - Towards A Sustainable Future , Phase 3 2025, E-Book_Neat

To date, the project has conducted environmental reviews at Our thanks also go to Mr Wong Kee Joo, Chief Executive Officer,
over 81 SMEs in Singapore with consistent success in applying HSBC Singapore, to Mr James Soh, Executive Director, NYAA
the ‘Triple-Win’ formula. The eco-solutions designed and used Council and to Professor Jeff Obbard, NYAA Climate Change
under the HSBC-NYAA ITE Sustainability Initiative are designed Advisor, for making the third round of the project a success.
to be simple, effective and widely applicable to other similar
types of SMEs across Singapore. We are therefore now The following sections of the book include the SME reports,
confident that, if applied across the approximately 230,000 including the 16 finalists listed above, that cover the
SMEs in Singapore, the formula would result in a cumulative environmental reviews, eco-solutions and outcomes achieved
reduction of millions of tonnes of carbon emissions annually, for each of the 46 SMEs involved in Phase 3 of the project.
with operational cost savings running into billions of dollars per
annum. This, in turn, would significantly bolster Singapore’s
national effort to reach its net-zero carbon emissions target
and greatly assist the nation in meeting its obligations under
the 2015 Paris Agreement. Perhaps, even more importantly,
the formula supports the aspirations of Singapore’s youth to
create a sustainable, cooler, and more secure future.

Summary of Environmental Benefits
In summary, the third round of the “Towards a Sustainable
Future” Sustainability Initiative endorsed the findings of
the previous two phases of the project, i.e. the ‘Triple Win’
formula works in all cases and has the potential to be applied
across the entire SME sector of Singapore’s economy. It is
possible, whatever the nature of the SME business, to improve
operational efficiency by cutting inputs and outputs from the
SME, thereby enhancing process efficiency, cutting carbon
emissions, and saving the company money. Furthermore,
through the training provided, the students were able to work
closely and diligently with SME management to gain insights
into the operation of the business and how it can increase
its environmental performance and competitiveness in the
global supply chain.
The NYAA is grateful, yet again, for such a positive outcome
and acknowledges, with gratitude, the role of the 46 SME
companies that participated in Phase 3 of the project. We
thank HSBC for their kind and continued funding for the
“Towards a Sustainable Future: In support of the Singapore
Green Plan 2030” Initiative.

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