Seven parties from the public and private sectors have signed a Memorandum of Understanding (MoU) today to help local businesses improve their environmental sustainability.
Green Compass is an assessment and roadmapping tool developed by the Agency for Science, Technology and Research (A*STAR), JTC Corporation (JTC) and TÜV SÜD. It helps companies to better manage their carbon emissions, energy, water, and waste impact, as well as chart roadmaps for environmental sustainability.
Today, four other parties – Enterprise Singapore (EnterpriseSG), the Singapore Manufacturing Federation (SMF), Singapore Precision Engineering and Technology Association (SPETA), and Singapore Polytechnic (SP) – have joined A*STAR, JTC and TÜV SÜD to bring Green Compass to more companies in Singapore. The MoU signing took place at Industrial Transformation Asia-Pacific (ITAP) 2022.
Through the Learn-Assess-Prioritise-Plan model of Green Compass, companies will learn about sustainability trends and methodologies, and assess their company’s environmental sustainability level. They can tap SkillsFuture Singapore funding for this. Next, they will prioritise areas with the biggest financial and strategic impact and chart transformation roadmaps based on their assessed sustainability level.
Companies, such as I-PEX Singapore and Yeo’s, have reported better understanding of their states of sustainability across various areas – including product life cycles and management of energy, water, carbon emissions, and materials.
Under the MoU, A*STAR, TÜV SÜD and SP will share knowledge on environmental sustainability and Green Compass through training courses, and continue to develop and refine the tool, while JTC will support the further development of Green Compass. JTC will promote this tool to its network of industrial tenants, and work with them on moving towards environmental sustainability while maintaining business competitiveness.
EnterpriseSG, SMF, SPETA, and SP will promote Green Compass to their networks of local enterprises. In addition, EnterpriseSG will support the development and adoption of sustainability-related standards to help companies in their sustainability journey.
The SMF will journey alongside the local manufacturing community to craft the environmental sustainability narrative for the manufacturing community. Through the SMF-Standards Development Organisation, the SMF will also be part of the development of standards to support companies in their environmental sustainability improvement journeys.
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