To support small and medium-sized enterprises (SMEs), Singapore banking group, Maybank Singapore, has launched its myimpact SME programme.
As SMEs turn their attention to sustainability and bring about positive economic impact, they can access expertise from across the industry from myimpact SME. The programme is a supportive ecosystem with different partners working together as organisations look to be in line with the Singapore Green Plan 2030 roadmap for a more environmentally sustainable future.
To help SMEs kickstart their carbon accounting and sustainability reporting process, Maybank has partnered with ESGpedia, the Asian ESG data and technology company. Together, the firms will provide tailored financial and advisory solutions. This will include helping firms calculate greenhouse gas emissions, establish core ESG metrics, and generate their first sustainability report, in accordance with ISO14064 methodologies and international standards.
This will allow SMEs to better navigate increasing consumer demand and regulations, demonstrate their commitment to sustainability, and put them at an advantage for sustainable financing and business opportunities.
Benjamin Soh, founder and managing director at ESGpedia commented: “As large corporates prioritise sustainable procurement, it is undeniable that SMEs must adapt and embrace sustainability to remain competitive.
“We are delighted to partner with Maybank to enable SMEs to take the first step towards sustainability through Maybank myimpact SME ecosystem. With ESGpedia’s online enabler tool, SMEs can calculate their carbon emissions and report core ESG metrics, aligned with SGX requirements and international frameworks, to demonstrate their commitment to sustainability, and putting them at an advantage for sustainable financing and business opportunities.”
Supporting a more diverse future
As part of the Maybank myimpact SME initiative, Maybank will also offer additional support for women entrepreneurs through the HERpower program to help them unlock new business opportunities, access tailored financing solutions, and receive exclusive access to networking events and workshops.
Women entrepreneurs will also enjoy various fee waivers – processing fees waiver of up to $2,000 for loan applications, pay waiver for the Terminal setup fee for Electronic Data Capture (EDC) Terminal, and payroll charges waiver of up to $100 monthly.
Syed Ahmad Taufik Albar, group CEO, community financial services of Maybank said: “Being one of the biggest financial institutions in the region, Maybank deeply understands that it takes a lot to raise a successful and sustainable business. Maybank is there at the beginning of an entrepreneur’s journey and will continue to evolve with our SME customers.
“Maybank myimpact SME caters to business at every growth stage with a comprehensive suite of financial and non-financial solutions. Our commitment to financial inclusivity and sustainable impact sets us apart, aligning with our long-term aspiration of humanising financial services.”
Driving positive change for SMEs
Alvin Lee, Maybank Singapore Country CEO added: “At Maybank, we are committed to drive positive, impactful change to support our clients’ business growth. We are aware that many SMEs lack the resources and know-how to embed sustainability in their business operations and they juggle multiple pressing concerns.
“As the key contributor of Singapore’s economy, they play a critical role toward environmental sustainability. Maybank myimpact SME as a collaborative ecosystem, will be a crucial enabler to drive sustainable growth and innovation by offering tailored insights and guidance to address their specific needs and challenges. By empowering them through sustainability capability building and partnering with them on their decarbonisation journey, SMEs can build resilient operations and stay competitive in an increasingly eco-conscious market.”
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