SINGAPORE - The launch of a capability-building programme that will help local businesses monitor and reduce their carbon emissions was announced by Minister for Sustainability and the Environment Grace Fu on Tuesday (Oct 26).
Ms Fu was speaking at the Global Compact Network Singapore's (GCNS) annual summit on corporate sustainability when she announced the launch of LowCarbonSG, an 18-month programme to help raise companies' awareness of climate risks.
LowCarbonSG is helmed by Carbon Pricing Leadership Coalition (CPLC) Singapore, the decarbonisation arm of GCNS, and supported by the National Environment Agency and Enterprise Singapore.
Companies that join the programme will be guided to measure and monitor their carbon emissions via a carbon and emissions recording tool - digital software developed and provided by CPLC Singapore - while learning best practices in emissions reduction.
Ms Fu said: "CPLC Singapore has engaged 152 companies and upskilled 247 staff in emissions awareness and knowledge.
"I am heartened that a pioneer cohort of large and small local companies are on board the LowCarbonSG programme."
A spokesman for GCNS explained that when a company comes on board, their energy, waste and transportation data over the previous six months is used to establish a baseline.
The firm is then tasked to monitor its emissions with the carbon and emissions recording tool and to reduce them where possible.
Vac-Tech Engineering was one of the first companies to join the programme in January.
Its safety manager, Mr Retna Vinod, said the carbon and emissions recording tool helped to track the company's emissions and identify areas to make its operations more energy- and resource-efficient.
Over the six-month period between January and June this year, Vac-Tech Engineering cut its diesel consumption by 4.6 per cent, electricity usage by 2.2 per cent and water usage by 7.9 per cent.
This was compared with the company's energy usage between July and December last year.
Dr Ryal Wun, deputy executive director of GCNS and managing director of CPLC Singapore, said: "With climate change and the urgent transition to a low-carbon economy, we seek to demystify decarbonisation for businesses through LowCarbonSG and realise Singapore's climate ambitions."
Called Designing Our Future: Powering The Decade For Decisive Action, the two-day summit also featured panel discussions by thought leaders in corporate sustainability.
The purpose of this annual summit, held virtually for the second time, is to facilitate conversations on the United Nations' 2030 Sustainable Development Goals (SDGs).
Ms Fu also announced the winners of the City Developments Limited - GCNS Young SDG Leaders Awards.
Now in its 11th year, the annual case competition offers young people a platform to champion sustainable development and SDG integration into business operations.
The competition saw participants submitting business case proposals, with selected finalists participating in practical work attachments and mentorships.
Of the 46 teams that applied this year, a team of students from Dunman High School emerged victorious.