Climate action: Good for business, good for the planet

Did you know that tackling climate change isn’t just about saving the planet? Taking climate action also offers unique opportunities to grow your business. Hong Kong has set its sights on achieving carbon neutrality before 2050, as laid out in the Hong Kong Climate Action Plan 2050. With Small and Medium Enterprises (SMEs) making up over 98% of all businesses in the city, they are the MVPs to make this vision a reality.

Here’s the bottom line: Without getting entire business value chains and networks on board, there’s no path to net zero. As the backbone of Hong Kong’s economy, SMEs are essential players in this journey.

Sustainability has become a business objective for SMEs

At OCBC, we have noticed a shift in the mindset of many SMEs. More than just about doing the right thing, sustainability is becoming about staying competitive in the long run. Improving environmental performance is more than just a side project, it has become essential for business survival and growth.

Simple steps any SME can take right now

If your company is new to sustainability, it’s easy to be overwhelmed by the sheer number of options and industry jargon out there. Should you go for renewable energy, zero-waste operations or eco-friendly products? It can feel like you need to dive into a massive, expensive project right away.

But here is our advice: take it one step at a time. Break your sustainability journey into smaller, manageable actions. These bite-sized initiatives are easier to tackle and more likely to succeed, keeping your company motivated and on track.

Green action creates great opportunities

Climate action isn’t just a challenge—it’s an opportunity for SMEs to innovate and stand out, which contributes to a better future while giving the brand a positive boost in consumer perception.

Here are some key ideas that can help you develop a robust and actionable sustainability strategy.

Be empowered

You have the power to reshape your company’s vision. Start by taking meaningful steps toward sustainability and sharing your “whys” with customers and partners. Be clear, be compelling and show them why it matters.

When you shift your narrative to focus on doing good while doing well, you will inspire action and motivate change within your business and across your network.

Measure and monitor

You cannot manage what you don’t measure! But you don’t need fancy systems right away. You might choose to simply start by tracking the basics: energy, water, waste and fuel usage. These areas often have the biggest impact, and the data is usually already right at your fingertips.

At OCBC, we have teamed up with industry players to make this step easier. Free ESG data platforms like ESGpedia by STACS can help you get started with data collection. We have also worked with Singapore’s Building & Construction Authority (BCA) to roll out the SME Energy Assessment (SMEEA) in Hong Kong which is a free and simple way to assess energy efficiency and predict the impacts of upgrades to your property.

With regular measurements, you will have the information you need to make smarter, more impactful decisions.

Optimise your business

Once you know where you stand, it’s time to take action! Start with areas you directly control, like energy use, water consumption and waste reduction. Starting with what you control!

Next, zoom out and look at the bigger picture. Are there opportunities for greening up your supply chain? Can you tweak logistics, transport or production processes? Even small adjustments in these areas can have a ripple effect on sustainability.

Engage business partners

Sustainability is a team sport, and your supply chain is part of the game plan. Be transparent about your procurement process and work with partners who are committed to reducing their environmental footprint. These actions will strengthen your message and push the entire value chain toward a greener future.

And remember, just as you are reviewing your partners, they are likely reviewing you, too. A great way to showcase your commitment is through sustainability certifications like EcoVadis. Not only does it boost your credibility, but it could also unlock access to sustainability-linked financing.

Make long-term sustainability the core of your business

Sustainability is not just a “nice-to-have”. More and more, it is becoming the foundation of long-term business success. By making it a priority in every decision, you empower your team, partners and supply chain to think smarter and act greener.

The result? A company that is not only better for the planet but also more resilient, stable and future-ready.

Discover how OCBC simplifies sustainability for SMEs

We are proud to present the OCBC SME Sustainable Financing Framework. It’s the first initiative of its kind—and independently verified by Moody’s ESG as a robust framework.

The Framework offers SMEs easy access to green loans and sustainability financing. Whether you’re just starting your sustainability journey or looking to scale up your efforts, the tools and guidance you need to make meaningful progress is within reach.

There are 9 key green project categories under the Framework:

• Built Environment
• Clean Transportation
• Climate Adaptation
• Circular Economy
• Energy Efficiency
• Environmentally Sustainable Management of Living Natural Resources and Land Use
• Pollution Prevention
• Renewable Energy
• Sustainable Water & Wastewater Management

Whether your focus is on clean energy, resource management or pollution reduction (or all of the above), we are here to help you tackle projects that make a real difference.

Ready to take the next step?

Reach out to us to learn more about how the OCBC SME Sustainable Financing Framework can help you do well, and do good.