HSBC Singapore on Saturday (Apr 20) announced the launch of the third phase of its sustainability initiative with the National Youth Achievement Award Council (NYAA). The initiative aims to create partnerships between Institute of Technical Education (ITE) students and small and medium-sized enterprises (SMEs) to find sustainable solutions for business cases, train students for the green economy and cut carbon emissions.

For its third edition, close to 140 ITE students and 35 SMEs will participate. This is more than double the size of the initiative’s cohort in its first phase in 2020. Since 2020, HSBC has contributed over S$500,000 to NYAA’s sustainability and green programmes. Across the three phases, about 260 ITE students will develop solutions for 70 SMEs.

Wong Kee Joo, chief executive of HSBC Singapore, said: “Our collaboration with NYAA, ITE and SMEs allows us to support local businesses on their sustainability journeys while helping our youth develop and acquire green skills through education and hands-on experiences, giving them better job opportunities in the growing green economy.”

Winning teams

At the launch ceremony on Saturday, guest of honour Dr Amy Khor, senior minister of state for sustainability and the environment, as well as transport, awarded prizes and tokens to the winning teams of the initiative’s second phase.

One such winner is a team from ITE College West, which collaborated with Knots Cafe and Living by XpressFlower to repurpose leftover salmon offcut for alternative uses, such as pet food. This reduces food waste, and the project is projected to address 19,623 kg of carbon dioxide emissions annually.

Another winning team, from ITE College East, partnered J’s Salon to implement eco-friendly shower heads and hairdryers in salons, while a third worked with Laundry Loft to reduce electricity consumption. Both these projects resulted in the reduction of hundreds of kilogrammes of carbon dioxide.

A NEWSLETTER FOR YOU

Friday, 12.30 pm

ESG Insights

An exclusive weekly report on the latest environmental, social and governance issues.

Sign Up

Low Khah Gek, chief executive of ITE, said that the HSBC-NYAA-ITE-SMEs Sustainability Initiative is “mutually beneficial”, as “businesses become more sustainable, students acquire essential skills, and we all work together to build a more resilient future”.