Committee of Supply 2023 debate, Day 3: Foo Mee Har on supporting SMEs to make the green transition

Singapore has stepped up its green ambitions over the past year but while sustainability efforts have gathered pace across Government agencies and large corporations, the picture is mixed for SMEs, often because they face challenges in implementation. They need urgent support to stay competitive and relevant as the net-zero goal will increasingly become a prerequisite in the expectations of customers, investors and regulators across the world. MP Foo Mee Har said this in Parliament on Tuesday (Feb 28). She called on the Government to help on four fronts. First, promote sector-based sustainability roadmaps, frameworks and uniform standards. Second, provide pre-identified sector-based green solutions to fast-track adoption. Third, leverage the ecosystem to build scalable green capabilities and collaboration. Fourth, build a framework to help companies comply with reporting requirements and compliance practices that are required by counterparties. Ms Foo said SMEs will also need support to cope with the higher business costs of making the green transition.