SMEs play a very important role in the transition to a sustainable economy and their collective sustainability impact is significant. As the External Reporting is moving from voluntary to mandatory across various regions, the new norms will trickle down onto SMEs and eventually drive them to adopt sustainable business models.
Various stakeholders are being affected by the achievements of the organisation, the need to maintain a competitive edge, reputation, and the ease to work with MNCs would drive the SMEs to integrate Sustainability into their operations and overall business strategy. That means engaging SMEs to function more sustainably is essential to achieving the region's climate goals given their economic scale and contribution.
For SMEs, we believe that accelerating technology adoption and linking that with the economic outcomes for their businesses has the greatest potential to markedly improve the sustainability of SMEs.
Starting small, reducing complexity, removing barriers and jargons allows the integration of the most industry relevant sustainability aspects. We want to make sure that the emerging sustainability eco-system gives SMEs with limited resources in the beginning of their sustainability journey a fair chance to onboard stepwise. A sustainable economy can only be achieved with SMEs participation.
We connect with CFOs and their accounting teams to help them understand the Financial forecasting based on fast-changing external factors (viz., carbon tax, waste tax, energy prices, talent, consumer behaviors, etc..) Accountants play a crucial role to capture and interpret environmental, social and economic performance metrics, the base for creating a sustainable economy.
To achieve a sustainable economy SMEs must be trained in how to focus on what is most material to their business and capture and convert non-financial sustainability data to meaningful insights. Sustainability embedded accounting help management teams to drive internal decisions and sustainable business development.
The territorial GHG emissions in Singapore 2021 was estimated to 46 MTCO2e, with a population of 5.8 million. Source
By measuring the emissions produced by SMEs and eventually partner with local solution providers for reducing these emissions, we contribute to a sustainable economy by collectively reducing the emissions produced by the SMEs from various sectors.