Page 7 - Shaping A Sustainable Future

in a reduction in carbon emissions from SME business A real win-win for the environment and Singapore’s
operations. Improvements in energy efficiency, reduced growing green economy!
resource consumption and better waste management
practices enhanced SME environmental performance The project was conducted during a prolonged period of
for every company involved. Critically, in all cases, this disruption and lockdown due to the Covid-19 pandemic,
was also matched by significant savings in operational and I truly appreciate the dedication of everyone involved
costs for the SME - proving that enhanced ecological and during this difficult time. The key to recovery from the
business performance is both achievable and mutually pandemic is building back better. The development of
beneficial. Singapore’s green economy is a vital component of the
nation’s continued and collective effort to achieve climate
In total, accounting for savings at all 15 SMEs participating security and greater environmental sustainability.
in the project, the ITE teams identified a saving in
CO emissions of about 144 tonnes per year with an I strongly believe that the project has benefited
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associated business cost saving of $76,000. Extrapolating Singapore by empowering its youth with the necessary
the savings to all 219,000 SMEs in Singapore represents skills and training to create a more sustainable, climate-
a total saving of over 2 million tons of CO emissions resilient future. It has also benefitted the SME sector,
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annually and a business cost saving of over $1.1 billion. which represents a substantial part of Singapore’s
economy, and lit the pathway toward a more sustainable
The project has demonstrated, beyond doubt, that and entrepreneurial future. The project has ignited the
the development of Singapore’s green economy aspirations of the ITE students, and I was particularly
makes excellent environmental and business sense. impressed by their eagerness to apply their academic
Furthermore, it also created excellent training and skills to assist SMEs in reducing carbon emissions.
employment opportunities for Singapore’s youth and
strengthens the nation’s potential to meet its climate I am sincerely grateful to the SMEs that volunteered for
obligations under the Paris Agreement. the project, the ITE staff who supported the students,
and to Mr James Soh, NYAA Executive Director, for having
the vision to implement the project. I am also grateful
Climate change is an inter-generational issue. Young to HSBC for their generous sponsorship of the project.
people recognise the dangers of climate change and A large part of the solution to climate change lies in the
have a strong desire to create a more sustainable future. hands of our younger generation and I wish the ITE
The NYAA project has given me a deep sense of pride students every success in their future.
in the ambition and capability of Singapore’s youth
to create a safer, cooler and greener future. The ITE
teams have made a fantastic contribution, and it has Prof Jeff Obbard
been a privilege for me to guide and train the students NYAA Climate Change Advisor
on how to conduct the environmental reviews for our
SME partners. What has been made very clear from
the project is that reducing carbon emissions does not
come with a financial penalty to a company. The very
opposite is true! Together, we significantly improved the
environmental performance of every SME involved in the
project and, at the same time, reduced business costs.

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