Singapore, 25 July 2023 – The Singapore University of Social Sciences (SUSS) signed a Memorandum of Understanding (MOU) with leading professional services firm RSM, to empower small and medium-sized enterprises (SMEs) in embracing sustainability and integrating environmental, social, and governance (ESG) practices into their business models and operations.
The MOU signing ceremony was witnessed by guest-of-honour, Ms Grace Fu, Minister for Sustainability and the Environment.
As ESG issues continue to shape how organisations are perceived by the public in today’s global landscape, while bringing tangible benefits to businesses, it is becoming increasingly critical for Singapore SMEs to pursue sustainable transformation.
Led by the Centre of Excellence for Social Good (CESG) at SUSS, the strategic partnership will see SUSS and RSM working together to encourage SMEs to prioritise sustainability while addressing the key challenges they face. This includes a series of planned initiatives across three key areas: conducting joint research on the impact of sustainability and ESG performance on SMEs; developing frameworks, case studies and guidelines for use by SMEs to better incorporate sustainability into their business models; and developing training programmes tailored for SMEs to enhance their capabilities and make knowledge more accessible.
Professor Tan Tai Yong, SUSS President said, “With the roll-out of efforts under the Singapore Green Plan 2030, SUSS recognises the need to provide greater support to SMEs on their sustainable transformation journey. This partnership with RSM demonstrates our commitment to fostering greater synergy with industry partners, providing tailored applied learning opportunities to upskill our SMEs. By equipping the SME community with the necessary tools, knowledge, and guidance to navigate the ESG landscape, we hope to smoothen the journey for SMEs to embrace sustainable practices and contribute to a better future for everyone.”
Professor Ang Hak Seng, Director of Centre of Excellence for Social Good, Professor of Social Entrepreneurship added, “Our conversations with SMEs have revealed a key pain point, where SMEs want handholding to put their sustainability education into practice. Hence, in partnership with industry experts, we will be offering affordable consultancy services to address this concern.”
Mr Dennis Lee, Partner and Deputy Leader for ESG Practice, RSM added, “Companies beginning their ESG journey can be overwhelmed by the information available today. However, business owners should not be fazed and can begin by taking incremental steps to kick-start their ESG journey. As the backbone of Singapore’s economy, the collective efforts of SMEs will have a big impact towards tackling climate change and nurturing the green economy.”
On top of the newly announced initiatives, SUSS will offer several programmes in sustainability such as the Master of Social Entrepreneurship (Sustainability track) programme to be launched in 2024, addressing knowledge gaps highlighted under the SkillsFuture framework, Social Entrepreneurship programmes that employ a multidisciplinary approach, emphasising applied learning and enabling individuals to quickly enhance their skills through bite-sized education and a Graduate Diploma in Sustainability Management. Besides formal learning opportunities, short-term CET courses on sustainability-related topics are also available for learners to upskill on demand.