SMF Chief Sustainability Officer as a Service

Sustainability Transformation

for Singapore Manufacturers

Chief Sustainability Officer-as-a-Service (CSOaaS)

Supported by:

In Collaboration with:

Sustainability is everyone's responsibility

In today's world, sustainability is no longer just a buzzword—it's a critical responsibility for businesses, governments, and individuals alike. As environmental challenges intensify, the need for environmental sustainable practices are paramount. The manufacturing sector, being a significant contributor to resource consumption and emissions, holds a unique responsibility in driving change. Singapore Manufacturing Federation's Chief Sustainability Officer-as-a-Service (CSOaaS) programme empowers companies to kickstart their sustainability journey, not just as a compliance measure, but as a core business strategy.

What is Sustainability

Climate change is impacting everyone. These subtle yet significant changes highlight the urgent need for companies to take the first step on their sustainability journey. By acting now, we can ensure a cleaner, and livable planet for our future generations.

What are the Benefits?

SUSTAINABILITY TRANSFORMATION The Role of Accountancy and Finance Professionals in the Singapore Manufacturing Sector

ESG - Environmental, social, and corporate governance document file

A PwC study reported that over 80% of global investors in Singapore are more likely to invest in businesses with strong ESG.

70%

of Singaporean companies saw improved financial performance and higher ROI from sustainability practices like energy efficiency.

The hand is giving money to the other hand. Pay for something. Paying Cash. Vector stock illustration.

Consumers are willing to pay a premium of up to

10%

for sustainable alternatives.

61%

of businesses identified sustainability as a key driver of business growth and innovation, with companies tapping into new markets and customer segments as they adopt greener practices.

Building a Strong Business Case for Embracing Sustainability

Global ESG regulations are adding up - the time to act is now

2024-2025

2026

2027

2028

2029

2030

SGX mandates sustainability reporting for all listed companies.

Carbon Tax: $45/ tonne

Stricter environmental compliance regulations for Manufacturing sector

Carbon Tax: $25/ tonne

Mandatory Scope 3 reporting for listed companies

Green Building Standards: Enhanced Building and Construction Authority (BCA) Green Mark certification requirements

Mandatory Scope 1 and 2 reporting for non-listed companies (Annual rev > $1B, total assets > $0.5B)

Green Procurement: The government will introduce stricter green procurement rules.

Expansion of carbon tax scope to cover more industries.

Mandatory Scope 3 reporting for large non-listed companies (TBC).

Carbon Tax: $50-$80/ tonne

Full Circular Economy Implementation: All companies are required to meet stringent waste management and recycling benchmarks

Bursa Malaysia listed companies to disclose ESG initiatives and risks as part of their annual reports

Mandatory Greenhouse Gas Emissions Reporting for large companies that are high emitters.

Introduction of carbon pricing mechanisms, coupled with stricter waste management and renewable energy regulations.

Companies in sectors like manufacturing, oil & gas, and agriculture will be required to report Scope 3 emissions.

Introduction of mandatory carbon reporting for SMEs

Full Implementation of Carbon Pricing

OJK Green Taxonomy

Renewable Energy Mandates: New regulations may require companies to integrate renewable energy into their operations

Stricter Emission Caps: Large industries may face stricter emission caps, requiring companies to adopt advanced emissions control technologies or risk penalties.

Full implementation of a carbon tax covering major industries, including mining and manufacturing, with additional penalties for non-compliance.

Green Product Regulations: Regulations surrounding the production and labeling of green products will be expanded

Net-zero emissions target for specific sectors, with stringent penalties for exceeding emissions caps.

Strict environmental protection rules and launched a national emissions trading system (ETS) for power generation.

Expanded carbon pricing mechanisms, and increased accountability for ESG disclosures

Green Product Standards: China will implement stricter eco-labeling and green product standards across industries

Strengthened sustainability compliance, particularly in manufacturing and export sectors, with new incentives

Mandatory Scope 3 Emissions Reporting for companies.

Renewable Energy Mandates for Large corporations.

National emissions trading scheme (ETS) fully operational, with tighter caps on greenhouse gas emissions.

Circular Economy Action Plan (CEAP).

Energy Efficiency Directives for industries and large corporations.

Further tightening of ESG reporting requirements under the EU Taxonomy.

Mandatory ESG Due Diligence: The Corporate Sustainability Due Diligence Directive (CSDD)

Introduction of further regulatory initiatives, potentially targeting circular economy standards and enhanced biodiversity reporting.

Zero waste to landfill policy.

EU Climate Law mandates legally binding targets for climate neutrality by 2050.

EU circularity standards.

Carbon Border Adjustment Mechanism (CBAM)

Mandatory Scope 3 Emissions Reporting for large companies.

Sustainable Finance Disclosure Regulation (SFDR)

CSRD Reporting.

EU Taxonomy.

Fit for 55.

Extended Producer Responsibility (EPR) Directive

SEC Climate Risk Disclosure

Infrastructure Investment and Jobs Act (IIJA)

Mandatory Scope 3 Emissions Reporting for Larger companies.

New energy efficiency standards for buildings and industrial operations.

Circular Economy and Waste Management Policies.

Enforce stricter emissions regulations, particularly for high-polluting sectors (Manufacturing).

National-level carbon pricing policy.

Sustainable Product Regulations: Stricter guidelines for sustainable product labeling and sourcing.

Full implementation of federal carbon tax and reinforced climate regulations, including mandatory renewable energy targets

There is a growing expectation for transparency and accountability worldwide, SMEs are expected to measure, report, and reduce their carbon footprint to meet customer and regulatory demands.

Chief Sustainability Officer-as-a-Service (CSOaaS) Programme

Kickstart Your Sustainability Journey:

A Program to Reduce GHG Emissions and Enhance Environmental Responsibility

“I am so overwhelmed by the resources available, where and how do I get going?”

“Are my employees well-versed when conversing in the topic of sustainability?”

“I have limited people and resources to run these initiatives.”

Implementation

SMEs are matched with our eco-system partners to implement sustainable solutions. Thereafter, a second GHG data capture assesses the impact, and successful companies will be awarded the G.E.M Bronze Mark, recognizing their commitment to sustainability."

Prioritization & Roadmap

Receive expert guidance to identify the most critical actions that will drive meaningful progress towards your sustainability goals. A strategic roadmap with clear steps, timelines, and resources is developed to guide SMEs.

Customer: “What is your environmental sustainability policy and carbon emission? - this is a vendor requirement”

Awareness Training

Employees are introduced to environmental sustainability concepts, laying the foundation for the company's sustainability journey.

Gap Assessment

Environmental sustainability assessment and scope 1 and 2 data capture to establish baseline and identify gaps.

3 days duration

Across 2 weeks

Why Chief Sustainability Officer as a Service?

Earth Global Connections Flat Vector Concept

Foundation for Global Compliance

Lays the groundwork for compliance with international standards, positioning your business for global success and long-term resilience

Clean Expressive Business Development Department

Expert guidance

Receive practical advice from sustainability experts well-versed in regulatory requirements, ensuring efficient resource use and maximum impact for your business.

Recognition

Earn the G.E.M Bronze, Silver, or Gold mark to acknowledge your sustainability efforts. These certifications are recognized by industry leaders and banks, creating opportunities for further engagement.

Marketing Exposure

Gain visibility through SMF’s partnerships with regulators and industry leaders, showcasing your sustainability achievements and enhancing your competitive edge.

exclusive

G.E.M Community

Successful adopters will achieve the prestigious G.E.M Mark, showcasing their commitment to sustainability. They will also gain entry into the exclusive G.E.M community, enjoying benefits such as invitations to networking events, marketing spotlights, and access to quarterly sustainability newsletters.