Singapore Budget 2014 – Sustainability and Innovation Credit (SIC)

February 21, 2014 by  
Filed under Insights

Sustinable Development in SingaporeThe Singapore Budget 2014 speech will be delivered by Deputy Prime Minister and Minister for Finance, Mr Tharman Shanmugaratnam, in Parliament next Friday.

At Green Business Singapore, our top wish for this year’s Budget is to see the government introducing a Sustainability and Innovation Credit (SIC) scheme, similar to the existing popular Productivity and Innovation Credit (PIC) scheme that is supposed to end in FY 2015.

With rising public awareness on sustainability and increased risks from climate change, food disruptions and energy price fluctuations, most businesses including small and medium-sized enterprises (SMEs) understand the need to reduce their environmental impacts, especially in terms of energy, water and waste. However, they are usually constrained by the lack of trained manpower and resources to take action. Read more