New platform aims to streamline resources, data essential for decarbonisation
The Singapore Business Federation (SBF) has unveiled the new NetZeroHub.SG platform to support local businesses in their transition to net-zero emissions.
Senior Minister of State for Manpower and Sustainability and the Environment, Dr. Koh Poh Koon, announced the initiative during the Global Compact Network Singapore Apex Gala Dinner & Awards Ceremony on Friday.
The NetZeroHub.SG, which aims to streamline resources and data essential for decarbonisation, consists of two core components: the Singapore Emission Factors Registry (SEFR) and a Resource Portal.
Singapore Emission Factors Registry
The SEFR, a collaborative effort between SBF and the Agency for Science, Technology and Research, provides a centralised database of local emission factors to aid companies in accurately calculating their greenhouse gas (GHG) emissions.
Kok Ping Soon, Chief Executive Officer of SBF, said the SEFR is a "critical and timely resource" to help businesses with the compliance challenges related to climate-related disclosures.
"By developing a better understanding of their operations and value chains, businesses will be able to identify emission hotspots, and work more effectively towards reducing emissions," Kok said in a statement.
The registry will initially offer over 200 emission factors relevant to GHG accounting and reporting for Scope 1, 2, and 3 emissions, covering various categories, including building materials, fuel, and waste.
The SEFR was established in response to concerns voiced during a Forward SG conversation held by PwC Singapore. Participants noted that existing GHG emissions calculations, particularly Scope 3 emissions, lacked accuracy due to the unavailability of localised data.
"The SEFR is a critical resource, enhancing the accuracy of carbon reporting with localised emission factors and streamlined tools for emissions reduction," said Jean Tan, CEO of SBF Foundation, in a statement.
The SEFR is set to expand its offerings, with new emission factors for logistics, information and communications technology, and other common business activities expected by 2025. SBF plans to engage in industry consultations to identify additional categories, allowing companies to comprehensively account for their emissions. Businesses can access the SEFR data for free at www.NetZeroHub.sg.
Resource Portal also available
In tandem with the SEFR, the Resource Portal serves as a comprehensive repository of tools and information aimed at facilitating businesses' decarbonisation efforts.
It offers thought leadership articles, case studies, and a directory of training programmes, enabling businesses — particularly small and medium-sized enterprises (SMEs) — to navigate the complexities of sustainability.
Frank Phuan, co-chair of the Sustainability Alliance (SA), emphasised the portal's significance.
"The launch of the Resource Portal marks a milestone in Singapore's journey towards net-zero," Phuan said in a statement. "With this platform, we aim to simplify access to critical tools, knowledge, and solutions, empowering companies of all sizes to take practical steps towards sustainability."
The collaboration between SBF and the SA is designed to prevent duplicative efforts and consolidate resources to support businesses in their decarbonisation journey.
Fang Eu-Lin, Partner and Sustainability and Climate Change Practice Leader at PwC Singapore, called it a "catalyst for more robust and reliable emissions reporting."
"With more Singapore businesses empowered to make informed decisions and take decisive actions to reduce their emissions, this marks yet another step forward for Singapore in transitioning to a low-carbon economy," Fang said.
The Resource Portal is free to access and intended for all businesses in Singapore, regardless of size or sector. SBF and its partners are committed to ensuring the platform remains accurate and up-to-date, regularly seeking feedback from the community to enhance its offerings.
