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DBS and the Singapore Manufacturing Federation (SMF) have signed a landmark MOU to help Singapore’s manufacturing sector reduce emissions and stay competitive in the green economy. This collaboration—the first between…
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DBS, Singapore Manufacturing Federation Partner to Decarbonize Singapore’s Manufacturing Sector
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DBS, Singapore Manufacturing Federation Partner to Decarbonize Singapore’s Manufacturing Sector
by ESG News
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March 3, 2025
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500 manufacturers to receive targeted support over two years.
Practical sustainability tools: workshops, playbooks, advisory services.
Competitive green financing to drive real-world decarbonisation.
DBS and the Singapore Manufacturing Federation (SMF) have signed a landmark MOU to help Singapore’s manufacturing sector reduce emissions and stay competitive in the green economy. This collaboration—the first between SMF and a financial institution—aims to empower 500 small and mid-sized manufacturers over two years with expert guidance, financial solutions, and structured sustainability programs.
Why it matters:
Manufacturing makes up 20% of Singapore’s GDP but is responsible for nearly half of its greenhouse gas emissions. With rising global sustainability demands, local manufacturers must adapt—or risk losing their competitive edge.
“Sustainability is no longer an option; it is a business imperative.” — Koh Kar Siong, Group Head of Corporate and SME Banking, DBS
Koh Kar Siong, Group Head of Corporate and SME Banking, DBS
3 Pillars of the Partnership:
1. Training & UpskillingDBS and SMF will offer webinars, workshops, and an industry playbook to equip manufacturers with knowledge on carbon footprint measurement, energy efficiency, and circular design. The playbook, backed by SkillsFuture Singapore, will serve as a practical guide for sustainability integration.
2. Tailored Sustainability ProgrammesManufacturers will access a structured ESG Ready Programme from DBS, providing clear step-by-step guidance on sustainability roadmaps and green financing. SMF’s Chief Sustainability Officer-as-a-Service (CSOaaS) will offer on-demand expert advisory, ensuring businesses receive tailored, hands-on support.
3. Competitive Sustainable FinancingTo turn plans into action, DBS will provide green financing options for investments in electric vehicles, eco-renovations, and energy-efficient infrastructure.
RELATED ARTICLE: Singapore’s Blueprint to Achieve Net Zero Aviation Emissions by 2050
“This partnership builds on our efforts to support SMEs and mid-sized enterprises with the tools, skills, and financial solutions needed to thrive in a sustainable economy.” — Lim Him Chuan, Singapore Country Head, DBS
Lim Him Chuan, Singapore Country Head, DBS
“By providing structured guidance, hands-on training, and financial resources, we are enabling manufacturers to future-proof their businesses and strengthen Singapore’s position as a leader in sustainable industrial practices.” — Lennon Tan, President, SMF
The bottom line:
DBS and SMF’s partnership provides a critical boost to Singapore’s manufacturing sector, equipping businesses with the knowledge, financing, and support they need to stay globally competitive while cutting emissions. The future of manufacturing is green, resilient, and financially sustainable.
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Decarbonize
ESG
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Koh Kar Siong
Lim Him Chuan
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