EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.
Select your location
Local sites
EY partnership with EnterpriseSG on SME Sustainability Reporting Programme
Ernst & Young LLP (EY) partners with Enterprise Singapore (EnterpriseSG) on the SME Sustainability Reporting Programme (SME SRP) to provide small and medium enterprises (SMEs) with tailored guidance to navigate the sustainability disclosures landscape and develop their first sustainability reports.
What EY can do for you
SMEs are a vital part of Singapore’s economy, contributing 44% of the nation’s nominal value add and employing 71% of its workforce.1 This makes them an important driver for Singapore’s sustainability agenda. Measures that assist SMEs in strengthening their sustainability capabilities and implementing sustainability meaningfully will help them unlock greater value. The SME SRP empowers SMEs to harness the value of sustainable practices for a strategic advantage beyond compliance.
Why is this important to you?
As businesses, customers and other stakeholders place increasing emphasis on sustainability efforts and data, measures that help SMEs strengthen sustainability capabilities and implement sustainability meaningfully can potentially allow them to unlock greater value.
SMEs that adopt sustainability practices and reporting position themselves to realize several potential benefits.
Competitive advantage and enhanced reputation
Increasingly, companies are requiring suppliers to provide sustainability data. Quantifying such data and showcasing good sustainability performance can differentiate your organization from competitors and potentially qualify it as a preferred supplier.
Operational efficiency and cost savings
By tracking and analyzing sustainability metrics, you can identify inefficiencies and areas for improvement in resource usage. This can potentially lead to cost savings through increased efficiency, waste reduction and optimized operations.
Access to capital and better financing terms
Financial institutions are adopting environmental, social and governance (ESG) criteria in their lending and investment decisions. Sustainability reporting provides transparency and detailed information about your sustainability initiatives and performance. This can potentially help you benefit from better financing terms, lower interest rates, and access to green bonds or sustainability-linked loans.
How EY can help
With more than 20 years of sustainability consulting experience, EY assists you in several key areas:
- Identify key ESG topics for your business to focus on
- Understand good industry practices for sustainability reporting and how to adopt them
- Build sustainability capabilities through training sessions and customized guidance
- Simplify processes and avoid unnecessary burdens with relevant, user-friendly tools and resources
- Develop a sustainability report that can serve as a meaningful external stakeholder engagement tool
SMEs can choose from two EY base packages and a range of optional add-ons.
|
Package one (Standardized package) |
Package two (Bespoke package) |
||
|---|---|---|---|
|
Fee after EnterpriseSG financial support |
S$7,332* |
S$9,750* |
|
|
Base package components |
Phase one: selection of reporting standards and frameworks |
^SMEs can choose to adopt UN Sustainable Development Goals and qualitative Task Force on Climate-related Financial Disclosures / IFRS S1 and S2 as optional add-ons. |
^SMEs can choose to adopt UN Sustainable Development Goals and qualitative Task Force on Climate-related Financial Disclosures / IFRS S1 and S2 as optional add-ons. |
|
Phase two: materiality assessment |
|
|
|
|
Phase three: determine data needs and collect data |
Provide data templates and offer SMEs guidance on filling in required data |
|
|
|
Phase four: develop sustainability report |
|
|
|
|
Optional add-ons |
Adoption of UN Sustainable Development Goals (SDGs) |
Include adoption of UN SDGs for the sustainability report (S$1,872 fee after EnterpriseSG financial support*) |
|
|
Adoption of qualitative Task Force on Climate-related Financial Disclosures (TCFD) recommendations or IFRS S1 and S2 |
Include adoption of qualitative TCFD recommendations or IFRS S1 and S2 for the sustainability report (S$5,733 fee after EnterpriseSG financial support*) |
*All fees are inclusive of 9% GST.
The team
Our latest thinking
How Singapore issuers can accelerate their climate reporting journey
Singapore issuers have progressed in climate-related disclosures but can do more quickly to stay ahead of climate reporting regulations.
10 Jul 2024
Ken Ong
How will understanding climate risk move you from ambition to action?
The fifth EY Climate Risk Barometer shows an increase in companies reporting on climate but falling short of carbon ambitions. Learn more.
27 Nov 2023
Dr. Matthew Bell
How boards can drive climate strategy in a complex environment
Boards must take key actions to help realize long-term value from the firm’s climate strategy and boost stakeholders’ confidence in it. Learn more.
23 Jul 2024
Praveen Tekchandani