If you own a small business, you might believe your environmental impact is negligible. However, your customers do not view it that way. The world is moving towards better energy sustainability both for consumer brands and the general consumer mindset.
Regardless of your business size, you must utilize energy sustainability practices to thrive in the ne=w world.
As environmental concerns worsen, customers are beginning to vote with their dollars. Businesses of all sizes and types must constantly assess consumer mood because their purchasing patterns are shifting as consumers become more aware of climate change and its implications.
Consider these 5 grants in Singapore for energy sustainability initiatives as you seek more funding to implement sustainable practices in your company.
Energy Efficiency Fund (E2F)
This umbrella scheme, which consists of five distinct incentives, can help companies with industrial facilities increase their energy efficiency. Depending on the project being conducted, it might contribute to cost savings.
The 5 funds may be applied to projects like:
- 50% support for conducting thorough energy audits
- 50% in favor of holding design workshops to boost the effectiveness of new facilities
- 70% of people favor spending money on energy-efficient technologies
Skyrise Greenery Incentive Scheme (SGIS)
This encourages the implementation of skyrise landscaping on already-existing skyscrapers in Singapore. Business parks, industrial facilities, educational institutions, and community structures are all eligible for consideration for this funding.
An improved version of the Skyrise Greenery Incentive Scheme (SGIS) covers up to 50% of the expenditures associated with installing vertical and rooftop vegetation. In Singapore, SGIS has helped more than 110 existing buildings become greener. A new upper limit for vertical and rooftop plants was added in SGIS 2.0.
Energy Efficiency Grant (EEG)
By co-funding investments in more energy-efficient equipment, a new grant introduced in September 2022 aims to assist firms in managing growing energy prices in the food services, food manufacturing, or retail sectors.
EEG provides enterprises wishing to implement energy-efficient technology and lower overall operating expenses with cash support with a $30,000 maximum.
SMBs can use EEG to adopt energy-efficient water heaters, LED lighting, freezers, and air conditioners, among other things.
Building Retrofit Energy Efficiency Financing (BREEF)
The BREEF scheme, which the Building and Construction Authority support (BCA) and other taking part financial institutions, provides funding to cover the up-front costs of energy retrofits of existing buildings.
It pays for professional expenses, equipment costs, and installation costs.
Owners of non-residential buildings in Singapore can receive up to $4 million, or 90% of the cost of retrofits, through the BREEF scheme. The maximum loan term is five years, and the scheme is open until March 31, 2023.
Sustainable Brand Grants (SBGS)
The SBGS, introduced by the Monetary Authority of Singapore (MAS), encourages the adoption of globally recognized standards by offsetting up to S$100,000 in additional costs for external evaluations of eligible green, social, sustainability, and sustainability-linked bonds. Green, social, sustainability, and sustainability-related bond issuers can use the SBGS whether debuting or returning to the market. The grant is good through May 31, 2023.
Applying energy sustainability practices requires research and application. There are many ways to start being an energy-sustainable business, and that will depend on your offers and processes. Many businesses have already started taking steps to lessen their environmental impact, setting long and short-term targets to achieve their goals. Now, it’s your turn.