New guide launched to help S'pore manufacturers decarbonise
Step-by-step guidance and real-world use cases are included in the guide. PHOTO: SINGAPORE MANUFACTURING FEDERATION
SINGAPORE - Local manufacturers, which accounted for nearly half of Singapore's primary greenhouse gas emissions in 2022 , will get extra new help in their decarbonising efforts with the launch of a new guide.
Step-by-step guidance and real-world use cases are included to help over 5,000 Singapore manufacturers on their path to net-zero emissions.
Decarbonisation Playbook: A Practical Guide For Manufacturers To A Low-Carbon Future was launched on May 28 by DBS Bank, the Singapore Manufacturing Federation (SMF), consultancy EY Singapore, and Nanyang Polytechnic (NYP).
Many companies in the manufacturing sector, a major economic driver for the country, face challenges in adopting sustainability solutions, the four organisations said in a release.
In a survey of over 70 manufacturers across seven sub-sectors, 80 per cent of them said they were still in the early stages of their sustainability journey.
The survey, conducted in 2025 by DBS, EY and SMF, also found that the top reason local manufacturers want to decarbonise is to comply with regulations.
But SMF chief executive Dennis Mark said in his speech at the launch event that sustainability is also about growth.
'It is now a defining pillar of industrial resilience, innovation, and future growth. Today, the expectations on manufacturers are rising – from customers, from regulators, and increasingly, from global supply chains,' Mr Mark said.
To reduce the complexity of decarbonisation for manufacturers, the playbook provides a framework that offers a step-by-step model for companies.
Under the framework, companies are given help in identifying their emissions sources, then evaluating opportunities, creating business cases, putting in place solutions, and developing long-term decarbonisation roadmaps.
It also provides case studies from different manufacturers in Singapore to show how firms can decarbonise, such as the example of Quantum Leap.
The small to medium-sized smart home device manufacturer in Singapore has identified its emission sources as energy-heavy production processes, packaging materials and overseas shipping.
It then plans to transition to renewable energy, reduce packaging waste and explore product refurbishment and recycling to further reduce its emissions.
DBS head of corporate and SME banking Chen Ze Ling said: 'We recognise that sustainability is essential, and in today's uncertain business climate, building financial resilience is equally critical.
'Striking the right balance between the two empowers businesses to reduce their carbon footprint while effectively navigating ongoing challenges.'
He added: 'Meaningful decarbonisation starts with practical, real-world support – shaped by close industry engagement and delivered in partnership across the manufacturing value chain. That is the spirit behind this playbook.'
SMF chief sustainability officer Clara Kwan said the book can be a practical and inclusive guide for its members.
'It addresses the very real challenges our manufacturers face – from limited resources to regulatory pressure – and equips them with tools to move from sustainability ambition to implementation,' she said.
SMF also has other initiatives to help its members go green, such as a programme where it offers the services of a chief sustainability officer to manufacturers. This programme provides companies with tailored guidance and hands-on expertise in their push to decarbonise.
Mr Praveen Tekchandani, EY Singapore leader and partner for climate change and sustainability services, noted that the book also combines perspectives of manufacturers with the insights of other ecosystem players who are already familiar with decarbonisation.
'It breaks down complex requirements and policies like Singapore's carbon tax and sustainability reporting standards,' he said, adding that it also provides science-based strategies and solutions that are readily applicable.
NYP will also be integrating the playbook into its pre-employment training and the curriculum for its continuing education and training.
This is estimated to benefit 1,000 pre-employment training for students across 10 diploma courses and 220 continuing education and training adult learners in a year.
It will also help 438 companies that are part of NYP's alliance for sustainability innovation.
Dr Graham Ng, NYP director of the school of engineering, said that integrating the book in the school's programmes creates a ripple effect that gives learners the ability to identify and tackle sustainability challenges in their business operations.
Sue-Ann Tan is a business correspondent at The Straits Times covering capital markets and sustainable finance.
Join ST's Telegram channel and get the latest breaking news delivered to you.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Straits Times
2 days ago
- Straits Times
DBS expects economic value from its use of AI to exceed $1 billion in 2025
Since DBS began focusing on AI, the bank has created more than 350 use cases and has 1,500 models in production PHOTO: ST FILE DBS expects economic value from its use of AI to exceed $1 billion in 2025 SINGAPORE - Banks are ramping up their use of artificial intelligence (AI), and DBS – which has earned $750 million through its use of the technology – estimates that its economic value could surpass $1 billion in 2025. Since the bank began focusing on AI, it has created more than 350 use cases and has 1,500 models in production, said Rajeev Hassamal, DBS' head of generative AI and flow of work, at SuperAI Singapore, a two-day conference held at Sands Expo and Convention Centre. The conference participants at the event discussed, however, the challenges in striking a balance between innovation and responsible use of AI when developing AI models. 'Finding that sweet spot is very hard,' said Mr Hassamal. Speaking at a panel discussion on the integration between AI and finance, he emphasised the importance of equipping employees, regardless of role, with an understanding of how the technology works. 'We need to ensure people understand how to use this technology,' said Mr Hassamal, who showcased DBS' internal generative AI chatbot, DBS-GPT, which helps its employees with content generation and writing tasks, all within a secure environment. Speaking at a separate panel, Sambit Sahu, vice-president of applied research at Capital One, noted that the AI and machine-learning space has completely changed over the past five years. Large language models have progressed from doing simple tasks, to taking a more agentic approach, he noted. One use case of AI, he suggested, is in mimicking employees' tasks, but it does it more efficiently. '(Banks) deal with huge amounts of data, text, images, audio and also visuals,' he added. Sigrid Rouam, chief AI officer at EFG Bank, pointed out that generative AI can also be put to work on compliance-related tasks, such as checking the source of money from a bank's clients. AI can also assist with non-advisory related tasks – those that take up 70 per cent of relationship managers' time, she said. 'All of this should be completely automated and streamlined.' The Monetary Authority of Singapore (MAS) warned that guardrails need to be in place amid the race to implement AI in the financial sector. Kenneth Gay, MAS' chief fintech officer, said that the central bank takes regulation very seriously, given that the regard for regulation is a competitive advantage for Singapore. Project MindForge, an initiative by MAS in 2023, examined the risks and opportunities of generative AI for banks. Mr Gay said that since financial institutions are at the stage of building and deploying generative AI applications, they are seeking more clarity from the government about the sort of specific features that should be included. He added that MAS intends to release a playbook this year that will give institutions from across the segments of the financial sectors, including banking and insurance, more clarity regarding the key risk considerations across AI's key use cases. THE BUSINESS TIMES Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Times
2 days ago
- Business Times
DBS expects economic value from its use of AI to exceed S$1 billion in 2025
[SINGAPORE] Banks are ramping up their use of artificial intelligence (AI), and DBS – which has earned S$750 million through its use of the technology – estimates that its economic value could surpass S$1 billion this year. Since the bank began focusing on AI, it has created more than 350 use cases and has 1,500 models in production, said Rajeev Hassamal, DBS' head of generative AI and flow of work, at SuperAI Singapore, a two-day conference being held at Sands Expo and Convention Centre. The conference participants at the event discussed, however, the challenges in striking a balance between innovation and responsible use of AI when developing AI models. 'Finding that sweet spot is very hard,' said Hassamal. Speaking at a panel discussion on the integration between AI and finance, he emphasised the importance of equipping employees, regardless of role, with an understanding of how the technology works. 'We need to ensure people understand how to use this technology,' said Hassamal, who showcased DBS' internal generative AI chatbot, DBS-GPT, which helps its employees with content generation and writing tasks, all within a secure environment. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Speaking at a separate panel, Sambit Sahu, vice-president of applied research at Capital One, noted that the AI and machine-learning space has completely changed over the past five years. Large language models have progressed from doing simple tasks, to taking a more agentic approach, he noted. One use case of AI, he suggested, is in mimicking employees' tasks, but it does it more efficiently. '(Banks) deal with huge amounts of data, text, images, audio and also visuals,' he added. Sigrid Rouam, chief AI officer at EFG Bank, pointed out that generative AI can also be put to work on compliance-related tasks, such as checking the source of money from a bank's clients. AI can also assist with non-advisory related tasks – those that take up 70 per cent of relationship managers' time, she said. 'All of this should be completely automated and streamlined.' The Monetary Authority of Singapore (MAS) warned that guardrails need to be in place amid the race to implement AI in the financial sector. Kenneth Gay, MAS' chief fintech officer, said that the central bank takes regulation very seriously, given that the regard for regulation is a competitive advantage for Singapore. Project MindForge, an initiative by MAS in 2023, examined the risks and opportunities of generative AI for banks. Gay said that since financial institutions are at the stage of building and deploying generative AI applications, they are seeking more clarity from the government about the sort of specific features that should be included. He added that MAS intends to release a playbook this year that will give institutions from across the segments of the financial sectors, including banking and insurance, more clarity regarding the key risk considerations across AI's key use cases.
Business Times
2 days ago
- Business Times
DBS expects the economic value from its use of AI to exceed S$1 billion in 2025
[SINGAPORE] Banks are ramping up their use of artificial intelligence (AI), and DBS – which has earned S$750 million through its use of the technology – estimates that its economic value could surpass S$1 billion this year. Since the bank began focusing on AI, it has created more than 350 use cases and has 1,500 models in production, said Rajeev Hassamal, DBS' head of generative AI and flow of work, at SuperAI Singapore, a two-day conference being held at Sands Expo and Convention Centre. The conference participants at the event discussed, however, the challenges in striking a balance between innovation and responsible use of AI when developing AI models. 'Finding that sweet spot is very hard,' said Hassamal. Speaking at a panel discussion on the integration between AI and finance, he emphasised the importance of equipping employees, regardless of role, with an understanding of how the technology works. 'We need to ensure people understand how to use this technology,' said Hassamal, who showcased DBS' internal generative AI chatbot, DBS-GPT, which helps its employees with content generation and writing tasks, all within a secure environment. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Speaking at a separate panel, Sambit Sahu, vice-president of applied research at Capital One, noted that the AI and machine-learning space has completely changed over the past five years. Large language models have progressed from doing simple tasks, to taking a more agentic approach, he said. One use case of AI, he suggested, is in mimicking employees' tasks, but it does it more efficiently. '(Banks) deal with huge amounts of data, text, images, audio and also visuals,' he noted. Sigrid Rouam, chief AI officer at EFG Bank, pointed out that generative AI can also be put to work on compliance-related tasks, such as checking the source of money from a bank's clients. AI can also assist with non-advisory related tasks – those that take up 70 per cent of relationship managers' time, she said. 'All of this should be completely automated and streamlined.' The Monetary Authority of Singapore (MAS) warned that guardrails need to be in place amid the race to implement AI in the financial sector. Kenneth Gay, MAS' chief fintech officer, said the central bank takes regulation very seriously, given that the regard for regulation is a competitive advantage for Singapore. Project MindForge, an initiative by the MAS in 2023, examined the risks and opportunities of generative AI for banks. Gay said that since financial institutions are at the stage of building and deploying generative AI applications, they are seeking more clarity from the government about the sort of specific features that should be included. He said MAS intends to release a playbook this year that will give institutions from across the segments of the financial sectors, including banking and insurance, more clarity regarding the key risk considerations across AI's key use cases.
