Enterprise Singapore, SBF and SSG launch new foundational playbook to help enterprises embark on sustainability

To support Singapore enterprises in developing new capabilities in sustainability, Enterprise Singapore, Singapore Business Federation (SBF) and SkillsFuture Singapore (SSG) have jointly launched a foundational sustainability playbook titled “Sustainability Playbook for Enterprises: Embarking on your Environmental, Social and Governance (ESG) journey”. This was announced on 28th July 2023 by Minister for Trade and Industry Mr Gan Kim Yong at a visit to marine and offshore company Sea Forrest.

The playbook provides a step-by-step guide to help enterprises assess their ESG readiness, and a list of relevant resources such as self-help guides and training programmes to help companies get started on this journey. This includes a 3-stage sustainability journey of enterprises.

(i) Stage 1: Build awareness in sustainability
Start by understanding key sustainability concepts, identifying relevant trends, requirements, and opportunities.
(ii) Stage 2: Identify relevant areas for intervention
Establish baselines and potential areas of improvement by engaging stakeholders to identify material areas and collecting relevant data.
(iii) Stage 3: Embark on projects to improve and meet targets
Set targets and determine concrete steps to improve sustainability performance and meet targets. Implement and review initiatives.

The playbook complements other sustainability playbooks that have been launched or are currently being developed by Enterprise Singapore and their partners. These playbooks are a foundational tool that enterprises can tap to increase their understanding of sustainability and identify initial steps for their sustainability journey.

Said Mr Jeffrey Siow, Managing Director and Chief Operating Officer, Enterprise Singapore,

“With growing attention on sustainable practices from governments, investors and consumers, our businesses must prepare for the inevitable transition to a green economy. Enterprise Singapore supports companies to integrate sustainable strategies and practices into their businesses through our Enterprise Sustainability Programme (ESP). As part of the ESP, we have developed this foundational playbook to guide SMEs on the first steps for their sustainability journeys."

Mr Kok Ping Soon, Chief Executive Officer, SBF said,

“Sustainability is now a key imperative for companies, investors, consumers, and the government. Small and medium-sized enterprises (SMEs) that embed sustainability in their value proposition will be well-positioned to tap into green economy opportunities and future-proof their business. This playbook will help SMEs at varying stages of their sustainability journey to identify stage-appropriate resources, tools, and programmes and accelerate their adoption of environmental, social, and governance (ESG) practices. SBF will work closely with the business community to increase the adoption of solutions and tools for sustainability transformation and facilitate business access to sustainability market opportunities.”

Said Mr Tan Kok Yam, Chief Executive, SkillsFuture Singapore,

“Enterprises need new capabilities to do well in the green economy. These new capabilities, in turn, rely on employees acquiring new skills to take on changing job roles. This playbook provides a guide on upskilling the workforce, for the enterprise striving to go green. It also points to the training resources in place to support enterprises in their journey toward greater sustainability.”