We all welcome a little financial incentive to better overcome our inertia. Government grants and subsidies are especially helpful for businesses looking at investing further into developing their longer-term capabilities and capacities.
In this sneak peek release from the Serious Notes on ESG Grants and Subsidies in Singapore, I would like to re-introduce the Enterprise Development Grant (the “EDG“) administered by Enterprise Singapore, which has been available to businesses in Singapore for a long time, but has recently extended its coverage to include the development of sustainability strategies. The following work-streams are now included:
- Environmental, Social and Governance Reporting Framework Development
- Sustainability Risk Assessment
- Material Footprinting
- Sustainability Strategy Development
- Sustainability Value Creation
To qualify, the business needs to be registered and operating in Singapore with a minimum 30% local shareholding and be in a financially viable position to start and complete the proposed project.
The grant covers up to 70% of qualified costs for SMEs and up to 50% for non-SMEs. An SME is defined as an enterprise with an annual sales turnover of under S$100 million, or that employs less than 200 workers according to the Ministry of Trade and Industry, Singapore.
It is worth looking into this grant which is generally relevant for most businesses in Singapore, sector-neutral and benefits both small and large businesses. We support and assist our clients in the grant application process should they be interested in the setting up and implementation of ESG and sustainability practices.
There are also sector-specific and/or more targeted grants and subsidies available in Singapore, e.g. grant schemes by the Monetary Authority of Singapore for sustainable and sustainability-linked bonds/loans, which are relevant for financial institutions (issuers) and businesses (who may be interested to take up sustainability-linked loans).
More detailed information on the EDG and other ESG-related grants and subsidies will be set out in the full note to be released soon on the The Green Bunny SG website.📅📢 Subscribe to the mailing list on the website to receive content delivered straight to your inbox. 📨.
Disclaimer: The content of this note is informational only. Nothing in this note shall constitute legal, investment or professional advice.
The Green Bunny SG 