DBS & Sheng Siong Aid Suppliers in Going Green

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KnowESG_DBS & Sheng Siong Aid Suppliers in Going Green
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DBS Bank and Sheng Siong have teamed up to help their suppliers go green and cut down on carbon emissions.

They plan to work with about 1,000 small and medium enterprises (SMEs) in the Sheng Siong supply chain over the next two years. Together, they will offer a programme to help these businesses figure out how to be more eco-friendly.

This is the first time two top companies recognised by SkillsFuture Queen Bee are teaming up. SkillsFuture Queen Bee is a programme that helps small businesses grow and change with the times. DBS and Sheng Siong are joining forces to support small businesses in a big way.

Mr Tan Kok Yam, Chief Executive SkillsFuture Singapore, said: “It is encouraging to see our SkillsFuture Queen Bee partners, who are industry leaders in their own fields, join hands to help promote sustainability in the wholesale trade and retail sectors.

"This collaboration will help reach out to more SMEs as they develop sustainable business capabilities and relevant skillsets of their workforce that will benefit the businesses, help the environment and contribute towards Singapore’s Green Plan 2030.

"We also hope to see more of our SkillsFuture Queen Bee partners do likewise – come together organically to share and expand their network so that more SMEs will benefit from their support.”

The programme will be tailored to fit the needs of each small business. Some will start with basic workshops on being eco-friendly, while others will get help with specific green solutions, like using less energy or cutting down on waste.

DBS will also offer loans to help businesses pay for eco-friendly changes. They will also advise on how to get government grants to cover some of the costs.

Mr Koh Kar Siong, Group Head of Corporate and SME Banking, DBS, said: “Building a thriving business is no longer just about being profitable, but being sustainable as well. Budget 2024 underscored the government’s efforts to strengthen Singapore’s economic competitiveness, which includes accelerating SMEs’ adoption of green solutions and upskilling their labour force.

"Companies that do not start making this transition risk losing out. DBS recognises that this journey of sustainability and upskilling is not easy – smaller businesses especially need more support to navigate this journey. We are excited to be embarking on this collaboration with Sheng Siong to work closely with suppliers to help create a more sustainable future for all.”

Sheng Siong, a big supermarket in Singapore, is already working to be greener. Now, they want to help their suppliers do the same.

Ms Lin Ruiwen, Executive Director, Sheng Siong, said: “Collaboration is key to unlocking a sustainable future. Sheng Siong is excited to partner with DBS and leverage their expertise to further support our suppliers to upskill their workforce and develop capabilities to achieve their sustainability endeavours.

"By empowering our suppliers to operate more efficiently and decarbonise their operations, we can collectively minimise the environmental impact of our supply chain. Together, we hope to build a more sustainable and resilient ecosystem, benefitting our communities and ensuring a greener tomorrow.”

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Source: Sheng Siong

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