DBS Bank and Sheng Siong have announced a partnership to help suppliers become more resource-efficient and reduce their carbon footprint. Together, the partners aim to engage up to 1,000 small and medium enterprises (SMEs) in the Sheng Siong supply chain network over the next two years. This collaboration will jointly introduce a comprehensive sustainability programme that will help businesses identify, develop and implement decarbonisation plans.

This initiative also represents the first-ever collaboration between two SkillsFuture Queen Bee companies, with the aim of building a resilient and sustainable business ecosystem. Introduced in 2020, the SkillsFuture Queen Bee initiative aims to support skills and workforce capability development in SMEs so as to enable their growth and business transformation. SkillsFuture Queen Bee companies are industry leaders with strong sectoral expertise, market leadership and ability to influence companies, particularly SMEs.

“DBS recognises that this journey of sustainability and upskilling is not easy”

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.”

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.”

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