OCBC Bank and Enterprise Singapore (EnterpriseSG) have introduced a new initiative aimed at helping small and medium-sized enterprises (SMEs) enhance their sustainability performance. The OCBC SME Start-ESG Programme offers SMEs tools to measure their environmental, social, and governance (ESG) performance, access expert guidance, and secure sustainability-linked loans (SLLs) from OCBC.
The programme is expected to support 300 SMEs, with EnterpriseSG covering up to 70% of eligible assessment costs over a three-year period. This initiative is designed to help businesses stay competitive by aligning with corporate sustainability standards, improving their ESG practices, and securing financing linked to sustainability performance.
ESG assessment and expert guidance for business growth
To evaluate participating SMEs, OCBC has partnered with EcoVadis and ESGpedia. EcoVadis will assess businesses across four key ESG themes: Environment, Labor and Human Rights, Ethics, and Sustainable Procurement. Meanwhile, ESGpedia will focus on measuring greenhouse gas emissions.
Linus Goh, Head of Global Commercial Banking at OCBC, emphasized the business advantages of sustainability. “Going green is good for business. SMEs that embrace sustainability are positioning themselves for long-term success by meeting the evolving expectations of corporate clients and the supply chain.”
Real-world impact: How anywheel benefits from ESG financing
One SME that has already benefited from OCBC’s sustainability financing is Anywheel, a leading bicycle-sharing provider in Singapore. After completing an ESG assessment through EcoVadis, Anywheel identified key areas for improvement and subsequently secured an SLL from OCBC to upgrade its fleet with sustainability-driven targets.
OCBC has been actively promoting sustainable finance for SMEs since launching its SME Sustainable Finance Framework in 2020. The bank has also hosted educational webinars and developed tools like the SME Energy Efficiency Assessment (SMEEA) to help businesses transition to greener practices.
With sustainability becoming a key driver of business growth, the OCBC SME Start-ESG Programme aims to equip SMEs with the resources needed to thrive in the evolving green economy.
