UOB and Enterprise Singapore have launched the Sustainability-Linked Advisory, Grants and Enablers (SAGE) programme, targeting small and medium-sized enterprises (SMEs).
This initiative aims to simplify sustainability-linked financing for SMEs, offering preferential loan rates from UOB for those meeting pre-agreed sustainability performance targets (SPTs).
The SAGE Programme involves collaboration with sustainability service partners including CDP, Convene ESG, M1, Paia Consulting, PwC Singapore, and TÜV SÜD.
This partnership provides SMEs with a streamlined approach to setting and achieving SPTs.
The programme addresses concerns highlighted in a recent UOB survey, where only 40% of businesses had adopted sustainability practices due to high costs, lack of knowledge, and insufficient manpower.
SAGE aims to reduce the time, cost, and resources required for SMEs to set SPTs and secure financing.
SMEs can choose from three pre-defined, sector-specific SPTs, validated by Environmental Resources Management (S) Pte Ltd to ensure alignment with global Sustainability-Linked Loan Principles.
These targets focus on reducing greenhouse gas emissions, certifying management systems, and improving ESG ratings.
UOB offers preferential pricing through its network of sustainability partners, with support from Enterprise Singapore covering up to 85% of the costs for ESG digital platforms, advisory services, and certifications needed to meet SPTs.
Lim Lay Wah, Group Head of Sector Solutions Group & Financial Institutions Group, UOB, said,
“The SAGE Programme sees an industry-first collaboration with leading industry partners to give our SME clients a seamless experience in implementing sustainability initiatives with pre-approved sustainability performance targets.
The one-stop access will connect them to a network of sustainability service partners to advance their green transition.”
Geoffrey Yeo, Assistant Managing Director of Enterprise Singapore, said,
“With growing focus on net zero from governments, investors and consumers, sustainability is no longer just a good to have for businesses.
This programme with UOB provides Singapore enterprises with clear targets and the resources to develop their sustainability capabilities. Enterprise Singapore encourages our companies to tap this programme to improve their sustainability performance and remain competitive.”
Featured image: UOB (seated 3rd from left) and sustainability service partners , (seated from left) Paia Consulting, TUV SUD ASEAN, PwC Singapore, M1 and CDP signing the co-operative agreements, with witnesses from Enterprise SG and UOB (standing).
