Enterprise Singapore and CDP launch new environmental disclosure programme for Singapore enterprises

SINGAPORE,July 6,2023 -- Enterprise Singapore (EnterpriseSG) and CDP,a global non-profit organisation specialising in environmental disclosure for companies,has launched a new environmental disclosure programme for Singapore enterprises,as part of EnterpriseSG's Enterprise Sustainability Programme[1].

Under this new environmental disclosure programme,Singapore enterprises will have access to a structured framework that will guide them in disclosing their environmental data and performance,via CDP's questionnaire approach. Participating companies will also receive benchmarking data on key performance indicators measured against industry peers,to help them better understand their performance,uncover risks and opportunities and integrate environmental considerations into their business strategy. CDP will also provide one-to-one advisory services for selected companies to improve their disclosures and sustainability efforts.

To encourage environmental disclosure amongst companies in Singapore,EnterpriseSG will support 70% of the programme fees for the first year of disclosure.

Christine Wong,Executive Director of Circular Economy and Sustainability,Enterprise Singapore said:

"As the global push for climate action intensifies,companies are increasingly facing requirements by investors,financiers and large corporate clients to disclose their environmental impact. This programme provides a step-by-step approach for companies to disclose their environmental data and ascertain the environmental footprint of their economic activities. We encourage Singapore enterprises to tap this programme to help themuncover business risks andopportunities,and enable them to take steps to address their environmental impact and enhance their competitiveness."

John Leung,Director of Southeast Asia & Oceania,CDP,said:

"We are delighted to be in partnership with the Enterprise Singapore on this pivotal initiative to drive more disclosure and action in Singapore. SMEs plays a major role in the global economy,particularly in supply chains,and their activity will be essential to the net-zero transition. Without them,we cannot limit global temperature rise to 1.5°C. It is crucial that SMEs are equipped with the tools and resources needed to not only commit to and accelerate environmental action,but to ensure their own long-term business viability. As the world's leading global environmental disclosure system,CDP is committed to supporting SMEs.

"Through this partnership,we hope that we can empower SMEs to take climate action by first disclosing their environmental impact,and in turn,to help them build business resilience to climate change,accelerate business growth,gain competitive advantage,and keep up with supply chain demands. This will help them align with shifting governmental policy and consumer expectations while allowing a more active role in the transition to a low carbon economy."

[1]The Enterprise Sustainability Programme was launched in October 2021 to support Singapore enterprises on their sustainability initiatives,and to capture new opportunities in the green economy. The programme supports training courses,capability and product development projects,and key enablers in areas such as certification and financing. As part of the ESP,EnterpriseSG also works with partners with the technical and domain expertise to roll out sustainability initiatives.

About Enterprise Singapore

Enterprise Singapore is the government agency championing enterprise development. We work with committed companies to build capabilities,innovate and internationalise.

We also support the growth of Singapore as a hub for global trading and startups,and build trust in Singapore's products and services through quality and standards.

Visit www.enterprisesg.gov.sgfor more information.

About CDP

CDP is a global non-profit that runs the world's environmental disclosure system for companies,cities,states and regions. Founded in 2000 and working with more than 740 financial institutions with over $130 trillion in assets,CDP pioneered using capital markets and corporate procurement to motivate companies to disclose their environmental impacts,and to reduce greenhouse gas emissions,safeguard water resources and protect forests. Nearly 20,000 organizations around the world disclosed data through CDP in 2022,including more than 18,700 companies worth half of global market capitalization,and over 1,100 cities,states and regions. Fully TCFD aligned,CDP holds the largest environmental database in the world,and CDP scores are widely used to drive investment and procurement decisions towards a zero carbon,sustainable and resilient economy. CDP is a founding member of the Science Based Targets initiative,We Mean Business Coalition,The Investor Agenda and the Net Zero Asset Managers initiative. Visit cdp.net or follow us @CDP to find out more.