OCBC, EnterpriseSG offer SMEs sustainability assessments, green loans

SMEs will be able to measure their sustainability performance.

OCBC and Enterprise Singapore (EnterpriseSG) have launched an ESG programme offering tools for small and medium enterprises (SMEs) to measure their sustainability performance.

Under the OCBC SME Start ESG Programme, SMEs can obtain a baseline measurement of their sustainability metrics, expert advice on sustainability practices and access to sustainability-linked loans (SLLs) from OCBC.

OCBC expects 300 SMEs to participate in this programme and plans to extend SLLs to them.

EnterpriseSG will support up to 70% of eligible costs for the annual assessment for each SME’s sustainability performance over a 3-year period.

Participating SMEs will receive guidance from OCBC’s sustainability experts and will be provided with insights and advisory on formulating and implementing practices to improve their sustainability performance.

The SMEs can also obtain a loan from OCBC to fund the implementation of sustainable practices. The cost of borrowing is linked to their sustainability performance.

OCBC has partnered with EcoVadis to measure the sustainability performance of the SMEs. The EcoVadis assessment will review the SMEs’ performance across four themes – Environment, Labor and Human Rights, Ethics and Sustainable Procurement.

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