DBS and SMF partner to drive sustainability in SG’s manufacturers

They aim to support 500 small and mid-sized manufacturers.

DBS and the Singapore Manufacturing Federation (SMF) have signed a memorandum of understanding (MOU) to accelerate the adoption of sustainable practices within the local manufacturing sector.

The collaboration aims to support 500 small and mid-sized manufacturers over the next two years.

It will offer three services: training and upskilling with webinars and in-person workshops; sustainability programmes for a tailored transition, which include an ESG Ready Programme and an Officer-as-a-Service Programme; and sustainable loan options.

The partnership will combine DBS’ expertise in financial solutions and sustainability advisory with SMF’s industry knowledge, to provide manufacturers with practical support at every stage of their decarbonisation journey.

This is SMF’s first partnership with a financial institution, according to a statement by DBS and the SMF.

Manufacturing contributes approximately a fifth (20%) of SIngapore’s GDP. But it is also one of the nation’s largest carbon emitters, responsible for nearly half of the island’s greenhouse gas emissions, DBS and SMF said, citing data from the National Climate Change Secretariat (NCCS).

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