OCBC Financial institution has partnered its company buyer SATS, a meals options supplier, to launch the inaugural OCBC Sustainability Innovation Problem.
Firms worldwide will pitch options to deal with three waste administration and discount challenges recognized by SATS regarding the segregation of various kinds of waste, conversion of waste into byproducts of worth, and the design of a business-to-consumer round waste ecosystem.
The three successful options from the problem, chosen by SATS senior administration, could have the chance to pilot prototypes at SATS in Singapore, with a view to scaling the answer throughout its world operations.
Every of the successful groups will obtain an S$80,000 grant from OCBC Financial institution to facilitate these pilots, which could go in direction of the acquisition and improvement of waste administration software program and applied sciences, equipment, and implementation prices.
OCBC Financial institution will think about offering additional assist, together with further financing, for the commercialisation of essentially the most promising options past the preliminary testbed offered by this problem.
Whereas the inaugural problem focuses on waste administration within the meals trade, subsequent editions of the OCBC Sustainability Innovation Problem will handle different sustainability-related points skilled by different industries.
Sylvia Ng
Sylvia Ng, Head of Strategic Planning, OCBC Financial institution, who leads the innovation and expertise drive beneath the financial institution’s local weather technique stated,
“For the inaugural innovation problem, we’re happy to associate with SATS to seek out options regarding efficient waste administration and discount for the agri-food trade.
This is a matter of strategic significance as Singapore appears to be like to undertake meals waste segregation and therapy options beneath the Zero Waste Masterplan, so it’s significantly significant that we’re in a position to work with one other homegrown enterprise and long-time buyer to deal with this problem.”
Tan Yen Ling
Tan Yen Ling, Head of Sustainability and Strategic Tasks at SATS stated,
“Sustainability sits on the coronary heart of SATS’ enterprise technique and our objective and mission are linked to the long-term pursuits of the purchasers and communities we serve.
As Asia’s main supplier of meals options and gateway companies, we’ve got an important position in encouraging the adoption of extra sustainable practices. We consider that collective motion as an ecosystem is important to create a extra sustainable world as we endeavour in direction of our 2030 sustainability targets.”
