SBF, SingPost, EY, and OCBC Launch QUEST Programme to Empower SMEs on Sustainability Journey

The Singapore Business Federation (SBF), in collaboration with Singapore Post (SingPost), Ernst & Young LLP (EY), and OCBC Bank, has launched the Queen Bee Enabled Sustainability Transition (QUEST) programme. This initiative aims to guide SingPost’s local small- and medium-sized enterprise (SME) suppliers on their sustainability journey.

The programme was introduced through a Memorandum of Understanding (MoU) signed by all four organisations, witnessed by Low Yen Ling, Senior Minister of State for the Ministry of Trade and Industry and Ministry of Culture, Community and Youth, at SBF’s Future-Ready Businesses (FRB) Spotlight event at SingPost Centre.

Starting from 1 January 2025, all listed companies in Singapore must make climate-related disclosures, with large non-listed companies required to follow suit by 2027. The QUEST programme is designed to bridge the gap between larger companies’ growing sustainability expectations and the current lack of expertise among their suppliers to provide accurate carbon emissions data for climate reporting.

SBF CEO, Kok Ping Soon, emphasized the importance of empowering SMEs to elevate their sustainability practices, enhancing their market competitiveness. “This MoU highlights the critical role of large procurers in enabling our SMEs to become sustainability-ready. By partnering with SingPost, EY, and OCBC, we aim to help SingPost’s suppliers embed decarbonisation practices into their core strategies, fostering a resilient and sustainable business ecosystem in Singapore.”

SingPost, the first logistics provider in Singapore to participate in the QUEST programme, has integrated sustainability requirements into its procurement criteria to build a network of environmentally responsible suppliers.

Through this programme, SingPost and its partners will guide SMEs on environmental, social, and governance (ESG) requirements, helping them develop carbon inventories and implement effective decarbonisation strategies. The programme will also provide networking opportunities, expert guidance, and support to help SMEs align with evolving market demands.

Michelle Lee, SingPost’s Chief Sustainability Officer, noted that while sustainability may not be a top priority for many SMEs, it is becoming essential. “As major corporations focus on Scope 3 reporting, sustainability standards are evolving into fundamental business requirements. Embracing these practices is crucial for SMEs to maintain their long-term competitiveness.”

EY will play a key role by offering a sector-agnostic programme to help SMEs measure and manage greenhouse gas emissions, providing insights into green procurement criteria and supplier codes of conduct.

“We look forward to helping SMEs access the right tools and resources to improve their environmental and social impact,” said Praveen Tekchandani, Singapore Climate Change and Sustainability Services Leader at EY.

OCBC’s involvement will provide financial backing to help SMEs implement decarbonisation strategies. Tan Teck Long, Head of Global Wholesale Banking at OCBC, said, “We are committed to supporting SMEs with innovative financial solutions to drive sustainable development.

“Our collaboration with SBF, SingPost, and EY on this programme will enable SMEs to achieve their decarbonisation goals and future-proof their businesses.”

Supported by Enterprise Singapore, the QUEST programme will initially include approximately 25 of SingPost’s SME suppliers, with potential for expansion based on feedback.

At the FRB Spotlight visit, SingPost showcased its sustainability efforts, including its electric vehicle fleet, sustainable packaging, and internal carbon pricing to influence procurement decisions. SingPost’s recent awards at the World Post and Parcel Awards 2023 for ‘Best Innovation Strategy’ and ‘Commitment to Sustainability’ highlight its leadership in combining innovation and sustainability to create value.