Page 9 - Towards A Sustainable Future , Phase 3 2025, E-Book_Neat

HSBC NYAA ITE SMES SUSTAINABILITY INITIATIVES

PHASE 3

EXECUTIVE SUMMARY

Background Furthermore, the students and staff of ITE gained knowledge
and training and showed exceptional skill and innovation in
The third phase of the HSBC NYAA ITE Sustainability Initiative, achieving a sustainable outcome for each SME.
“Towards a Sustainable Future: In Support of the Singapore The success of the Triple-Win formula depends on the
Green Plan 2030”, was initiated in 2024 and was built upon application of an ‘input-process-output’ model, where each
the success of previous phases, in which a total of 35 small aspect of the SME’s business is evaluated to understand its
and medium-sized enterprises (SMEs) had participated. The interaction and potential impact on the environment in
third phase saw a significant expansion in the number of new terms of the raw materials and used (inputs); how these raw
projects, with over 46 SMEs participating in this phase alone. materials are used to manufacture products and/or provide
All three Institute of Technical Education (ITE) colleges: East, services (process), and; how waste is generated and disposed
Central and West, participated in Phase 3 of the project, with of from the business (atmospheric, water and solid wastes).
partner SMEs covering a diverse range of businesses from By assigning a ‘carbon-tag’ to each of these aspects of the
manufacturing, religious establishments, food & beverage industry, it was possible to determine the carbon footprint
providers, to consumer services. of the SME. By identifying and applying innovative eco-
The fundamental goal of this initiative is to train and empower solutions to improve operational efficiency and cut carbon
youth to assist SMEs in enhancing their environmental emissions, the staff and students project teams were able to
performance and to strengthen the sustainability of their implement measures to cut consumption of raw materials
business operations by cutting carbon emissions. With the to the business (inputs), improve energy and operational
support of HSBC Singapore, each project comprises ITE efficiency (process) and waste from the industry (outputs)
students and staff working with the SME partners. with equivalent carbon emission and cost savings. In turn, this
approach helped the SME to identify and quantify its carbon
Prof Jeff Obbard, the NYAA Climate Change Advisor, built emissions within the increasing regulatory framework relating
upon the successful outcome of the previous two phases of to sustainability reporting in terms of Scope 1, 2 and 3 carbon
the project to further develop the ‘Triple Win’ formula for emissions, thereby rendering the SME more competitive in
application in Phase 3 of the initiative. The three wins of the the international supply chain, of which many of Singapore’s
formula are focused on: 1) cutting the carbon emissions of SMEs are part of.
an SME that are associated with the environmental spects of
the busines; 2) cutting SME business costs via improvements Following a period of training, led by Prof Obbard, on how
in its operational efficiency; and 3) training and empowering to conduct an environmental review of an SME’s business
students to conduct an environmental review of SME business operations, the students then worked closely with SME
operations. Of the 46 SMEs that took part in an environmental management to establish the carbon emissions of the business
review of their business operations in Phase 3 of the project, and identify the potential cuts associated with emissions using
all SMEs, without exception, managed to cut their carbon the ínput-process-output’ model.
emissions and save business operational costs.

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