Environmental Sustainability through Green Compass
23 Jul 2021
Transform your business by embracing environmental sustainability
A*STAR SIMTech, JTC, and TÜV SÜD signed an agreement at the Energy Innovation event, on 23 July 2021, to develop a Green Compass initiative that offers a set of software assessment tools, methodologies, and training workshops and courses to help businesses across sectors transition to more sustainable and resilient business models.
As per Minister of State Low Yen Ling’s opening speech at the event, she encouraged companies to adopt Green Compass “to navigate towards greater sustainability. Sustainability is not just a good to have, but can be turned into a competitive advantage and have strategic impact”. Green Compass will enable companies to adopt new and sustainable business approach to help them reduce their cost of doing business by improving resource efficiency; to enhance their company’s brand reputation that enables them to secure future earnings through stakeholder loyalty and advocacy; and it will empower companies to be future-ready for sustainability-oriented regulations and industry trends.
Through the Green Compass initiative, companies can:
- Assess how environmentally sustainable they are
- Conduct a gap analysis to find out what to do to achieve their sustainability goals
- Prioritise areas for improvement to maximise financial and strategic impact
- Develop a roadmap to become more environmentally sustainable
The Green Compass initiative will consider a company’s practices holistically in areas such as its product life cycles and management of energy, water, carbon emissions, materials, and After companies have chosen the environmental sustainability dimensions of relevance, the respective assessment questions will be generated; and upon its completion, the results will highlight and prioritise areas of improvement with the biggest financial and strategic impact (Figure 1).
Businesses are invited to register for a free trial of Green Compass and provide feedback to build industry confidence on the usefulness of it. Government agencies or affiliates are also invited to use Green Compass as a tool to incentivise and recognise companies who are making huge investment and efforts to improve their sustainability performance. The free trial is limited to the first 20 signups by 31st August 2021. To register now, please click here.
For enquiries, please contact
Dr Ng Sum Huan Gary, Acting Director, SEAC