Dr Robert Yap, Executive Chairman of YCH Group,
Mr Shankar Viswanathan, Senior Vice President of P&G, 
Distinguished Guests,
Ladies and Gentlemen, 

1. Good afternoon. It is my pleasure to be invited here today to launch the Greening the Supply Chain initiative at Supply Chain City. 

2. Logistics is a critical enabler of the world’s economy. The past two years have served as a stark and powerful reminder of that. COVID-19 tested and strained global supply chains to their limits. Amidst the challenges brought about by the pandemic, we witnessed how the logistics industry has been a critical pillar in supporting the global COVID response, and keeping essential medical supplies, food as well as other necessities flowing. 

3. This pandemic has accelerated long-term shifts in supply chains. Businesses are increasingly pursuing resilience in supply chains. Our efforts to facilitate business continuity, even at the height of the pandemic, have renewed Singapore’s standing as a key and trusted node in the global value chain. 

SUSTAINABLE LOGISTICS

4. Another long-term shift we need to embrace is sustainability. There is increasing global attention on the carbon footprint of our economic activities, of the food we eat and the choices of the products we use. I hope that every sector will consider what more it can do to reduce its emission and help us achieve our global climate ambitions. It may require investments in new facilities and capabilities, or even a complete rethink of business and operating models. But standing still and continuing business as usual is not an option.

5. Logistics companies that are able to incorporate sustainability into their long-term strategies will be able to seize growth opportunities and fortify business resilience. Green solutions can be integrated into different segments of the logistics value chain – from storage to transportation – to improve productivity and minimise our carbon footprint. 

6. Against this backdrop, I am very happy that YCH Group and P&G have come together to integrate sustainable practices into P&G’s logistics operations. This is the first time both companies have partnered up to grow their business with sustainability as a focal point, and it is also the first green partnership that YCH has established with its customers, both in Singapore and around the Asia Pacific region. 

7. Beyond working closely with its customers and stakeholders, YCH is taking many other steps to embrace sustainability in its operations, such as by installing 8,000 solar panels atop this building we are in now, deploying tools to optimise distribution operations and reducing energy usage, and committing to electrify 100% of their vehicular fleets by 2030. I commend YCH for showing the way forward on sustainability, and hope more companies will follow your lead in making sustainability a priority for their businesses. 

DEVELOPING OUR PEOPLE 

8. For us to transition to a low-carbon future in logistics, businesses will need to complement their investments in new technologies with workforce training, to ensure that our people are able to adapt and keep up with new ways of working. 

9. Earlier this year, Enterprise Singapore (ESG) launched the Enterprise Sustainability Programme to support local enterprises on their sustainability journey. The programme offers support such as training workshops and certification for enterprises to facilitate their capability and workforce development in sustainability. I hope that this programme will encourage many more enterprises to embed sustainability into every facet of their business. 

CONCLUSION

10. Let me take this time again to congratulate YCH Group and P&G on your partnership, and on this significant milestone for the Singapore logistics sector. I hope this partnership will enable both companies to take their businesses to new heights, and to grow for many years to come.