23 June 2024

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Asuene APAC and Singapore Manufacturing Federation signed partnership agreement

3 min read

Asuene APAC has signed a partnership agreement with the Singapore Manufacturing Federation, the largest manufacturing industry association in Singapore, for a strategic business collaboration. We will support manufacturing companies in Singapore in their decarbonization and ESG management by providing “ASUENE”, a carbon accounting platform and SMF’s Chief Sustainability Officer as-a-Service program (CSOaaS), which will enable companies to embark on sustainability transformation through a structured roadmap and help them strive towards the Green Excellence Manufacturing/ Business (G.E.M/ G.E.B) recognition marks awarded by the Asia Pacific Green Alliance.

Background of the Partnership Agreement

In Asia, more companies are in need of monitoring their climate-related risks and opportunities and improving their ESG and decarbonization efforts. Also, the Singapore government intends to require all listed companies to disclose climate change-related information in line with International Sustainability Standards Board (ISSB) standards from fiscal year 2025 (January to December 2025).

In addition, it is considered that non-listed companies with revenue of 1 billion Singapore dollars or more will also be mandated to disclose climate change-related information based on the ISSB standards starting in fiscal year 2027. In other words, Singapore is likely to require information disclosure even from small and medium-sized enterprises. This has increased the need for systems, tools, and programs to address decarbonization and ESG management among small and medium-sized unlisted companies that have yet to make their CO2 emissions visible.

Details of Partnership Agreement

“ASUENE” is the No.1 carbon accounting platform in Japan and Asia and is currently used by more than 6,000 companies (as of May 2024, according to our research). Asuene APAC also provides the ASUENE platform and consulting services to promote carbon measurement and reporting to local companies in ASEAN. SMF is a trade association of more than 5,000 SMEs in the manufacturing industry and offers “CSOaaS”, a program that helps SMEs take the first step toward sustainable management.

As one of the partners in SMF’s CSOaaS program, ASUENE is excited to collaborate and support carbon accounting for manufacturing companies in Singapore. We will leverage our expertise in consulting to help these companies accurately track and manage their carbon footprint. This partnership is a key step towards our shared goal of achieving a carbon-neutral society for Singapore and the wider APAC region. We are confident that by working together with SMF and other partners in this program, we can make a significant impact in the fight against climate change.

 

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This Press Release has also been published on VRITIMES

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