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DBS Bank, Sheng Siong team up on SME decarbonization
Collaboration to help supermarket chain’s suppliers in their green transition
The Asset 26 Feb 2024

Sheng Siong Group, one of the largest supermarket chains in Singapore, has partnered with DBS Bank to help suppliers become more resource-efficient and reduce their carbon footprint.

The collaboration will introduce a comprehensive sustainability programme that will help businesses identify, develop and implement decarbonization plans. Under the programme, the partners will engage with up to 1,000 small and medium enterprises (SMEs) in Sheng Siong’s supply chain network over the next two years.

The initiative also marks the first-ever collaboration between two SkillsFuture Queen Bee companies, with the aim of building a resilient and sustainable business ecosystem. Introduced in 2020, SkillsFuture Queen Bee 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.

According to DBS Bank and Sheng Siong, the programme will be right-sized to meet the specific needs of SMEs in the wholesale trade and retail sector. For those who may have yet to start their sustainability journeys, introductory workshops to understand the basics  ̶  including principles of sustainability, reporting and tracking  ̶  will be available.

For companies already looking to green their operations, sector-relevant solutions such as the use of energy-efficient systems, electrification of vehicles, waste reduction and recycling will be introduced.

On top of upskilling courses and green solutions, DBS will also offer sustainable financing solutions at preferential rates to help businesses overcome funding gaps. The bank will also provide guidance on how to tap relevant government grants to ease the cost burden of companies who wish to go green.

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