DBS and the Singapore Manufacturing Federation (SMF) have signed a Memorandum of Understanding (MOU) to accelerate sustainable practices within Singapore’s manufacturing sector. This partnership, announced on 27 February 2025, aims to support 500 small and mid-sized manufacturers over the next two years, providing expertise, resources, and financial solutions to drive emissions reduction and enhance competitiveness in the green economy.
Manufacturing contributes approximately 20% of Singapore’s GDP but is also a significant carbon emitter, responsible for nearly half of the nation’s greenhouse gas emissions. As international markets increasingly prioritise sustainability, manufacturers face pressure to transition to lower-carbon operations. A recent SMF survey found that 91% of manufacturers view sustainability as critical to their global competitiveness.
The partnership will focus on three key pillars:
1. **Training and Upskilling**: DBS and SMF will offer training webinars and workshops to build sustainability awareness across the workforce. A customised industry playbook, supported by SkillsFuture Singapore, will be launched to integrate sustainability into business strategies.
2. **Sustainability Programmes**: DBS will provide a framework through its ESG Ready Programme, whilst SMF will offer on-demand sustainability advisory through its Chief Sustainability Officer-as-a-Service Programme.
3. **Sustainable Financing**: DBS will offer competitive financing options to help manufacturers invest in green technology and infrastructure.
Lim Him Chuan, Singapore Country Head at DBS, stated, “We are pleased to partner with the Singapore Manufacturing Federation to help accelerate the sector’s transformation and ensure its future growth.” Lennon Tan, President of SMF, added, “This MOU marks a significant milestone for SMF as we partner with DBS to champion sustainability in manufacturing.”
This collaboration supports Singapore’s national decarbonisation agenda, positioning the manufacturing sector as a global leader in sustainable practices.
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