HSBC and SMU to help Singapore’s SMEs embed ESG into their business models
(25 September 2018 – Singapore) HSBC Singapore announced a partnership with Singapore Management University (SMU) to focus on helping SMEs, start-ups and social enterprises develop sustainable practices and business models.
The HSBC-sponsored program is broken into three streams to support businesses at different stages of growth and ESG transition, embed sustainable practices.
HSBC funding will support 10 SMEs in 2018/19 with specific sustainable business focus through the SME Business Transformation Initiative stream. The program aims to transform their business through enhancing their business model, human capital development and operations.
HSBC group head of strategy and global head of sustainable finance, Daniel Klier, said “Having a strategic approach to Environmental, Social and Governance (ESG) is no longer a ‘nice to have’ for business of any size but rather a strategic imperative. The benefits are clear: reputational performance, investor engagement and increased demand for your products. The implication is that one leads to the other. Understanding this and acting early to place ESG at the heart of your business will pay dividends in future.”
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