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SINGAPORE : More initiatives have been announced to to encourage small- and medium-sized enterprises (SMEs) to go green.
For example, the National Environment Agency will launch a scheme later this year to help companies offset the cost for energy efficient equipment.
Called the Grant for Energy Efficient Technology (GREET), it will be funded under a new Sustainable Energy Fund worth S$50 million.
Energy efficiency is the buzzword nowadays, but SMEs have been lagging behind in the push towards going green.
Only five SMEs have taken up the Energy Efficiency Improvement Assistance scheme - which co-funds energy appraisals for companies - since it was launched in 2005.
Howard Shaw, Executive Director, Singapore Environment Council, said, "We approach SMEs for many programmes...it's commonly understood that often SMEs lack necessary resources, be they human resource or financial resource, to embark on new projects and to further develop technologically or management-wise, it's always been a struggle."
Dr Amy Khor, Senior Parliamentary Secretary, Environment and Water Resources Ministry, said, "I think many SMEs...when they consider solutions to reduce business costs, they may overlook this aspect of adopting green solutions which can help them to reduce business costs.
"GREET is one of the results of our experience with the companies that will help further raise the take-up rate. This scheme will incentivise them because we can help them to co-fund part of the investments in adopting energy efficient measures."
Dr Khor was speaking at the 4th SME Credit Bureau Conference on Friday.
A new award was also announced at the event.
The Efficiently Developing Growing Enterprise (EDGE) award has been launched to recognise environmentally-conscious SMEs.
Organisers of the award include the Association of Small And Medium Enterprises and the Singapore Environment Council.
Winners of the award will be announced in May. - CNA/ms
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