The concept of sustainability has been growing in importance for businesses. A business that is sustainable is one that functions in the best interest of the environment, promoting awareness amongst both the local and global partners with the practice of responsible production.
According to the Paris Climate Accord, businesses can impact up to 60 per cent of emission cuts by 2030, and now is the time for business owners to take part in the sustainable movement to promote a more liveable planet for all.
As we move to the future, companies with practices and technologies to promote sustainable development and carbon neutrality are more likely to attract sustainable investments and long-term growth.
The FinLab is a keen supporter of sustainability and has launched The Greentech Accelerator to grow and nurture more Greentech solutions for industry partnerships and adoption.
About The Greentech Accelerator
The Greentech Accelerator by UOB’s The FinLab is a three months programme that welcomes regional and global Greentech solution providers focusing on energy efficiency, zero-waste supply chain, and carbon management and reporting to join forces in the sustainability transformation movement.
The three areas of focus are tailored with close alignment with the sustainable development goals and they are examples of how the participating Greentech solutions can get more involved in the sustainable movement in business operations.
Energy efficiency
Efficiency is a measure of how we can reduce waste and in this case, is to reduce the amount of energy consumed by the industry of focus. Low-energy infrastructure, IoTs that help to monitor energy consumption, electric vehicles, and solar and energy deployment are examples of innovations that improve the efficiency of energy usage, hence minimising energy waste that pollutes the environment.
Zero-waste supply chain
Supply chain efficiency is important in business operation which includes minimising logistic costs while maximising profits. However, how can we achieve the same results while reducing electronic, food, plastic, and water wastage?
Also Read: As the demand for energy soars, climate tech is here to save the day
Examples of potential innovation can include waste collection or upcycling systems, waste processing, resource management to increase efficiency, and industry symbiosis to encourage energy re-channelling.
Carbon management and reporting
Technologies in carbon management can include the analysis of the releases of greenhouse gases and the optimisation of carbon emissions. Methods that improve the process of carbon capture, carbon credits, monitoring, and reporting of scope 1, 2, and 3 emissions are the areas that would enable better management of sustainable actions.
What do I need to participate in?
In order to participate and stand out from the participating Greentech solutions, candidates should have a Technology Readiness Level (TRL) 6 and above, meaning a ready prototype demonstration. Companies would also be assessed for their scalability, traction, and readiness for deployment. 10 shortlisted Greentech solutions will be selected for the three months programme from August to November 2022.
How do you benefit from the programme?
- Sustainability and Business Masterclasses: Design with expertise from the bank and the industry, the masterclasses cover topics such as management, sustainability, commercialisation, and international market expansion.
- Mentorships and Partnerships: Be mentored by our pool of domain experts and tap on the extensive network of governments, corporates, SMEs, researchers, and tech providers to expedite the development of solutions.
- Pilots and test-bedding: Tackle actual sustainability-related challenges from corporates and SMEs to pilot and test-bed solutions.
How to join the programme?
Interested startups can apply to the programme here and embark on building a sustainable ecosystem for future generations and the planet. Applications close on Tuesday, 12 July 2022.
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