Sustainability is currently a critical agenda for many future-forward organisations today. As an approach towards environmentalism and corporate responsibility, the Sustainability-Linked Advisory, Grants, and Enablers (SAGE) Programme was created to simplify access to sustainability-linked financing solutions for small and medium-sized enterprises (SMEs) in Singapore.
Developed by United Overseas Bank (UOB) and Enterprise Singapore (EnterpriseSG), this programme aims to support SMEs in achieving their sustainability goals successfully. Convene ESG together with other sustainability service partners will provide specialised services, ranging from ESG reporting and certification to digital platform solutions.
What is the SAGE Programme?
The Sustainability-Linked Advisory, Grants, and Enablers (SAGE) Programme is created to help SMEs obtain financing for their sustainability projects and initiatives. This industry-first initiative focuses on three core components:
- Advisory Services: Providing expert guidance on sustainability practices and ensuring businesses have the relevant knowledge.
- Grants: Offering financial support to offset part of the costs of implementing sustainable solutions.
- Enablers: Facilitating access to necessary industry expertise, resources and tools to address challenges such as lack of manpower.
To qualify for sustainability-linked financing, companies must meet the pre-agreed, annual Sustainability Performance Targets (SPTs), measured by Key Performance Indicators (KPIs), and validated by Second Party Opinion partner, Environmental Resources Management (S) Pte Ltd to ensure adherence with globally recognised Sustainability-Linked Loan Principles.
When sector-specific SPTs are met or exceeded, SMEs can secure preferential loan rates from UOB. With preferential pricing from UOB’s network of preferred sustainability service partners and support from Enterprise Singapore, businesses can defray up to 85% of expenses* related to ESG software, advisory and assurance services for GHG inventory, certification of ISO management systems, and improvements in ESG disclosures. The pre-set SPTs are:
- Reduction of Greenhouse Gas (GHG) Emissions
- Certification of Management Systems
- Improvement of ESG Score or Ratings
For SMEs planning to participate in the programme, below is an example of the process:
- Initial Assessment: SMEs undergo a sustainability assessment to identify areas for improvement.
- SPTs Selection: Businesses choose from pre-defined, sector-specific SPTs validated by Environmental Resources Management (ERM).
- Implementation Phase: SMEs implement the necessary changes to meet their selected SPTs.
- Verification and Certification: Partner organisations provide verification and certification services to validate the SMEs’ achievements.
To learn more about the SAGE Programme, visit uob.com.sg/sage.
Convene ESG’s Role in the SAGE Programme
Under the SAGE Programme, Convene ESG will provide its innovative ESG reporting software to collect ESG data, conduct benchmarking, and produce accurate and compliant reports. Along with our partners, we are committed to supporting SMEs on their sustainability journey, providing the tools and resources they need.
Michael Yap, CEO of Azeus Convene, also shared, “The mission of the UOB SAGE Programme is compelling. It focuses on addressing the critical challenges – achieving ESG targets, complying with evolving regulations, and unlocking access to financing. We’re proud to contribute to the Programme. We believe that our Convene ESG Platform will empower businesses with practical tools and industry knowledge to thrive in a sustainable future.”
Committed to championing sustainability and corporate responsibility, Convene ESG looks forward to a fruitful collaboration with UOB in driving positive change across industries. Learn more about Convene ESG and its features by visiting conveneesg.com.
Subject to application post incurrence of relevant costs by eligible SMEs and approval from Enterprise Singapore for support up to 70% of the cost of eligible activities per company.