EnterpriseSG and CDP agree environmental disclosure access for Singaporean companies

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Participants will receive benchmarking data to help them better understand their performance, uncover risks and opportunities and integrate environmental considerations into their business strategy, with EnterpriseSG meeting 70% of the cost.

Enterprise Singapore (EnterpriseSG) and CDP, a global non-profit organisation specialising in environmental disclosure for companies, has launched a new environmental disclosure programme for Singapore businesses, as part of EnterpriseSG’s Enterprise Sustainability Programme.

Under this new environmental disclosure programme, Singapore enterprises will have access to a structured framework that will guide them in disclosing their environmental data and performance, via CDP’s questionnaire approach.

Participating companies will also receive benchmarking data on key performance indicators measured against industry peers, to help them better understand their performance, uncover risks and opportunities and integrate environmental considerations into their business strategy. CDP will also provide one-to-one advisory services for selected companies to improve their disclosures and sustainability efforts.

To encourage environmental disclosure amongst companies in Singapore, EnterpriseSG will support 70% of the programme fees for the first year of disclosure, with the aim of providing companies with the information needed to invest in decarbonisation, the ability to access green finance and to improve their competitiveness. 

Christine Wong, executive director of circular economy and sustainability at Enterprise Singapore, said: “As the global push for climate action intensifies, companies are increasingly facing requirements by investors, financiers and large corporate clients to disclose their environmental impact.

“This programme provides a step-by-step approach for companies to disclose their environmental data and ascertain the environmental footprint of their economic activities. We encourage Singapore enterprises to tap this programme to help them uncover business risks and opportunities and enable them to take steps to address their environmental impact and enhance their competitiveness.”

John Leung, director of Southeast Asia & Oceania at CDP, said: “Through this partnership, we hope that we can empower SMEs to take climate action by first disclosing their environmental impact and in turn to help them build business resilience to climate change, accelerate business growth, gain competitive advantage and keep up with supply chain demands. This will help them align with shifting governmental policy and consumer expectations while allowing a more active role in the transition to a low carbon economy.”

Sustainability is a growing demand from investors in a wide range of sectors, with evidence mounting that green finance provides better economic outcomes. With small and new companies in particular, the opportunity to grow as a sustainable business can reduce the impact later of adaptation to rising consumer, client and regulatory demands.