The government of Singapore offers NEA grants and incentives to assist businesses in going green. Many businesses in Singapore, regardless of size, are taking advantage of green financing to benefit from these and genuinely help make a more sustainable future.
China Everbright Water, CapitaLand Mall Trust Management, and City Developments revealed how their organizations benefit from promoting sustainability.
To transform wastewater into clean water for communities, Everbright utilized the Environmental, Safety, Health, and Social Responsibility Management System, which boosted the company’s long-term efficiency. One effective initiative CapitaLand took part in is recycling 18.5 tons of e-waste, which equals up to 95,360 iPhones.
City Developments also worked on future-proofing its business by adopting science-based emissions-reduction targets coupled with low-carbon technology and materials.
Channel News Asia mentions how Singapore customers know that some businesses pull one-off green initiatives just for PR, and they take time to call these businesses out.
Why you should consider making your company “green.”
From manufacturers to retailers, from high tech to financial corporations, any company can take advantage of green financing to take the eco-friendly direction. Your company can benefit from government subsidies, tax breaks, savings from eco-friendly practices, and enhanced popularity and demand in an increasingly sustainability-conscious world. So, whether you have a restaurant, technology, or offer insurance, eco-friendly business practices can be an innovative, cost-effective, and responsible business goal.
More demand for eco-friendly goods men more profit
Consumers worldwide are starting to demand more natural products and increased social responsibility from vendors and suppliers via green and sustainability practices. Moreover, many are willing to pay extra for these values and demands. The recent Nielsen global online survey shows that 66 percent of its worldwide study respondents commit to eco-friendly products, services, and businesses. The green factors below were cited in their top eight deciding factors:
- Goods made from natural, fresh, organic ingredients
- Environmentally friendly brand
- A brand recognized for its social value
- Environmentally friendly packaging
- Ads that spotlight the association of environmental and social benefits with the brand
Subsidy benefits from the government
Tax breaks are just the tip of the iceberg for government advantages that green businesses can leverage. A business can benefit from several grants, subsidies, and financing programs available for an entrepreneur who seeks to be more eco-friendly. For example, the Environmental Protection Agency provides grants for qualified programs geared for environmentally responsible approaches in a variety of business operations. The Small Business Administration (SBA) provides financing solutions to businesses that support green solutions in new construction, retrofitting existing structures, and the advancement of green efforts. These are just a few government subsidies for companies that affect environmentally friendly practices and solutions.
More savings through the use of natural/organic materials and smart energy use
Eco-friendly measures ultimately lead to business savings. Practices, including energy conservation, use of water-saving devices, recycling, energy-efficient equipment, solar power, and less waste, help keep costs down and have proven superior to traditional energy use.
There you have it. The world is moving towards a more sustainable future, and businesses can either adapt or lose their benefits. You can get started by checking out some green financing solutions a banking partner offers.