BUDGET 2024 could promote greater awareness among Singapore’s non-listed small and medium-sized enterprises (SMEs) on voluntary sustainability compliance, while also ensuring easier access to relevant regulations and guidelines in the form of a centralised directory, SGTech said.

In its recommendations released on Wednesday (Jan 31), the technology industry trade association called for the formation of a public-private sustainability communication office.

Such an office could aid in promoting greater awareness among non-listed SMEs on how voluntary sustainability disclosures to government and corporate customers could lead to better business outcomes, SGTech said.

“For Singapore to achieve its 2030 climate goals, implementing a robust top-down communication strategy is vital to influence the decisions and behaviours of SMEs,” it added.

To address SMEs’ queries and provide centralised access to sustainability-related regulations, guidelines, standards and certifications, a national electronic directory could also be established, SGTech said.

The trade association also called for the government to establish “an official set of criteria for assessing sustainability reporting platforms”, along with official recognition of reporting platforms which meet certain assessment criteria.

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These moves will help in addressing the current “lack of uniformity” in how SMEs evaluate their sustainability claims, particularly when they are applying for green financing, SGTech said.

On the manpower front, resources could be allocated to trade associations and chambers to help SMEs with developing skills-based approaches to tech talent recruitment and development, it suggested.

Skills-based talent approaches include job redesign and redeployment efforts, along with engaging SMEs to promote “alternative skills-based pathways for recruitment, reskilling and upskilling”.

Other recommendations include the development of a talent pipeline for tech professionals in the domain of digital trust, SGTech said.

The government could also designate a “chief trust officer” in each government agency and adopt emerging best practices for building digital trust, it added.

For more of BT’s Budget 2024 coverage, go to bt.sg/budget24