For a start, we will embark on a series of Green Plan Conversations this year, hosted by the Ministers overseeing the Green Plan, to seek the views of Singaporeans and to explore potential partnerships. I want to use limited functionalities on this website and agree to the use of strictly necessary cookies only. Subject to other approvals, power exports are expected to commence post-2030. They aim to increase their green energy use to 75% by 2022; 90% by 2023; and 100% by 2024. The overwhelming consensus of opinion of scientists currently, as expressed by the intergovernmental panel on climate change (IPCC), is that net-zero carbon is the goal. To support the industry in its transformation into one that is highly productive, climate-resilient, and sustainable, the SFA is employing the following strategies: Beyond increasing local food production, we are also diversifying our food import sources and growing overseas. Get Involved ESG consciousness is percolating down from the Government. People taking photos at Windsor Nature Park in Singapore. Look for a There is no reference to this in the budget speech, so we are not yet clear if this is part of the Green Plan or not. It is also apparent that there is an overlap between the job creation needed to undo the damage caused by the Covid-19 pandemic, and plans to decarbonise the economy. The move signals that Indonesia will endorse exporting clean power, after the nation's officials last year debated whether to ban or restrict deliveries to keep more supply at home. Shell has also upgraded their Singapore facility to blend SAF at multiple, key locations. With just 1% of Singapores land set aside for farming given the many competing land needs, the agri-food industry will need to significantly uplift its productivity in the coming years. The success of Singapores Sustainability strategies will depend on innovation, the Governments ongoing commitment, and the support provided to enterprises, investors, and consumers. Some points brought up during the session were about the changes to the job landscape in the future that come with the nation's transition to a green economy, as well as . The Green Plan charts ambitious and concrete targets over the next 10 years, strengthening Singapores commitments under the UNs 2030 Sustainable Development Agenda and Paris Agreement, and positioning Singapore to achieve its long-term net zero emissions aspiration as soon as viable. Singapore has far fewer vehicles per adult (about 110 per thousand) so a 60,000 charging unit total looks very good, approximately one for every 8.6 cars. The country has perfected the art of structured innovation where pilots and proof of concepts are introduced and the successful ones scaled up by recalibrating technology, delivery systems, legislation, and business models. In a Facebook post, Prime Minister Lee Hsien Loong said that while Singapore might be a small countrylacking in natural resources, it can still press on with tech and policy solutions for sustainable development. We have seen a number of sustainable finance initiatives last year, such asthe National Environment Agency (NEA) collaborating with DBS to raise USD 1.23 billion from its first green bond issuance. In order to achieve these pillars, the Singapore government has introduced a wide array of initiatives and support measures in the research and development, energy, green finance, sustainable tourism, and land transport sectors. Reduction plans of electricity and water usage by ministries and achieving the Green Mark for buildings. Spearheaded by five ministries, the Green Plan features five key pillars: (i) City in Nature, (ii) Sustainable Living, (iii) Energy Reset, (iv) Green Economy, and (v) Resilient Future. The Green Bonds Programme Office was set up last year, to work with statutory boards to develop a framework along with industry and investor stakeholders. But we can still press on with tech and policy For instance, more vegetation will be planted along the roads to reduce ambient temperature, while more nature parks are set to sprout up over the years. All of us have to work together, and make Singapore a bright green spark for the world.". percent achieve an environmental performance rating called Green Mark by 2030, . During the 56th IES Annual Dinner-Engineering for Sustainability, the IES Young Engineers Committee (YEC) and IES Student Chapters (IES-NUS Student Chapter The Green Plan brings about new opportunities in areas such as green finance, carbon services, and trading and sustainable tourism in Singapore. The Singapore Government is poised to lead from the front in building a Sustainable Ecosystem. Invigorating an ASEAN rethink on sustainability through a regional carbon tax seems to us to be a very good way to both promote sustainability locally, as well as regionally, without losing competitiveness to neighbouring economies. Throw in all the MRT stations and encourage private housing to do likewise with subsidies, and you could multiply this many times. If not, that would be a pity. or https:// as an added precaution. Published by SPH Media Limited, Co. Regn. The first concrete pledge of this Green plan is to expand Singapores Electric-Vehicle (EV) charging infrastructure, deploying 60,000 charging points at public carparks, airports etc by 2030. There are several reasons driving organisations in Singapore to adopt sustainability goals and ESG responsibilities (Figure 1). It also strengthens Singapore's commitments under the United Nations' 2030 Sustainable Development Agenda and Paris Agreement, said the five ministries in a joint media release on Wednesday.. February 18, 2021. lock () People will be encouraged to commute in a greener way - cycling paths will triple in length by then, and the rail network will also be expanded to 360km, up from 230km today. We know it's a hassle to switch browsers but we want your experience with CNA to be fast, secure and the best it can possibly be. The Green Plan will build upon Singapore's sustainability efforts in decades past, and help the country fulfil its commitments under the United Nations' 2030 Sustainable Development Agenda, he added. 202120748H. The Green Plan charts ambitious and concrete targets over the next 10 years, strengthening Singapore's commitments under the UN's 2030 Sustainable Development Agenda and Paris Agreement, and positioning us to achieve our long-term net-zero emissions aspiration as soon as viable. One million more trees across the Little Red Dot, to be planted by 2030 to absorb another 78,000 tons of CO2, providing cleaner air, and cooler shade. Road tax treatments are also being revised to bring EVs into line with their ICE equivalents. Our Food Future, Last Updated 03 Mar 2023, Holistic planning of the Lim Chu Kang area to. By 2030, Singapore hopes to achieve long-term net-zero emissions, which you can read about in the Singapore Green Plan 2030. By increasing greenery and piloting the use of cool paint on building facades, Singapore aims to moderate the rise in urban heat. Singapore Green Plan 2030. The gift link for this subscriber-only article has expired. Providing funding support for innovative research projects in sustainable urban food production, future foods, and food safety science and innovation, through the Singapore Food Story R&D Programme which was allocated more than $309 million of funds; Rallying citizens to play a part through branding and promotion of local produce, which enables local farms to grow their business sustainably; Working with Institutes of Higher Learning to offer courses to develop a skilled agri-food workforce and provide good jobs for Singaporeans. Singapore's government plans to review other power import proposals and will grant conditional approvals before the . There are, for example, more than 200km of covered walkways in Singapore, protecting residents from the extremes of sun and rain. This decisive move is intended to establish the economy's competitive edge early in a low-carbon future, and create new growth opportunities in industry, services, and finance. Singapore, which currently generates 95% of its electricity using natural gas, seeks to import around 30% of its needs by 2035 as it decarbonizes its economy. At least 20% of schools to be carbon neutral by 2030. The $50 million SG Eco Fund will also support community-led projects that advance environmental sustainability in Singapore. It is early days, and there is without a doubt, a very long way to go with a number of other countries globally, as well as in Asia, further advanced in pursuit of this goal. The proceeds from green bonds issued under such framework will be used to finance expenditures in support of the Green Plan. Many challenges for sustainability both affect and are affected by the climate: for instance, a warming Earth will make it harder to grow enough food, and clear-cutting forests to grow that food contributes to climate change. You can decide which cookies to allow and can change your cookie settings at any time. But more details about these initiatives will be needed to assess their effectiveness at curbing greenhouse gas emissions. And if it is, we would suggest not limiting this to HDBs. Get unlimited access to all stories at $0.99/month for the first 3 months. a) City in Nature: to create a green, liveable and sustainable home for Singaporeans; In its fiscal response to the Covid-19 crisis in 2020, we noted that the Singapore governments support measures were light on stimulus that could be described as environmentally oriented, or put it another way, Green. The first concrete pledge of this Green plan is to expand Singapore's Electric-Vehicle (EV) charging infrastructure, deploying 60,000 charging points at public carparks, airports etc by 2030. Cookies are small, simple text files stored in your computer, tablet or mobile phone when you visit a website or use an app. Since then, the international momentum for climate action has increased. The current ratio in the Netherlands is about one for every 150 cars. The Singapore government unveiled the Singapore Green Plan 2030 ("Green Plan") in February 2021, a "whole-of-nation movement" to advance Singapore's national agenda on sustainable development. You have reached your limit of subscriber-only articles this month. 2022, Government of Singapore. All rights reserved. We will see a slew of new programs and initiatives in green finance, sustainability, solar energy, electric vehicles (EVs), and innovation, in the next couple of years. (Please refer to Annex A for details on the initiatives and targets under the five pillars. It looks as if petrol and petrol-hybrid vehicles are also eligible for a 1-year road tax rebate from 1 August 2021 to 31 July 2022, so it may take a bit longer in practice for net road taxes for EVs to fall into line with other vehicles than suggested unless this is taken into account in the pricing scheme. These are at least 1.5M wide and sometimes wider, so represent an area of no less than 300,000m2. Raising the sustainability standards of our buildings through the next edition of the Singapore Green Building Masterplan; This is a substantial increase from the prior 28,000 target. Another initiative to look out for is the new Enterprise Sustainability Programme. After all, sustainable living does not just impact the environment. MCI (P) 076/10/2022, MCI (P) 077/10/2022. However, the HDB suggestion shows that this is possible, and with a little imagination, it is not too big a stretch to see how this could be rolled out to other types of construction. Singapore's sustainability efforts and ambitions may create new green growth potential for the Asia-Pacific region and beyond. The announcement of $19bn of public sector green bonds will be an important demonstration for the green bond market for Singapore, helping to create references for a rapidly growing market and paving the way for the private sector to embrace green financing more readily. 1 One year ago, we launched the Singapore Green Plan 2030 to catalyse a nationwide sustainability movement, to move towards a greener future. What Are The Green Plan's Key Targets? Nevertheless, the initiatives and measures already taken by the Singapore government under the Green Plan are proactive and concrete steps toward a low-carbon future. Much of that vision to keep Singapore both sustainable and livable stems from . Singapore might be a small country, lacking in natural resources. The Singapore Green Plan 2030 is a national sustainability movement which seeks to rally bold and collective action to tackle climate change, and to make Singapore a greener and more. For example,through the ASEAN. Here's where you can stay, eat, and play with a green thumb. The aim is to get the whole nation together as it seeks to transition into a more sustainable future - in line with global momentum for countries to "build back better" as they recover from the economic fallout of Covid-19. Such support will focus on three key componentsdeveloping sustainability capabilities in enterprises, strengthening sector-specific capabilities, and fostering a vibrant and conducive sustainability ecosystem. 4 Realising these sustainability goals will require a multi-stakeholder whole-of-nation effort. They will be enabled by a Green Government and Green Citizenry. Singapore is serious about becoming a world leader in green finance. Quadruple solar energy development by 2025. And if not by 2050, as most other countries that have adopted such a policy have done (110 of them as of counting), then by 2060 in line with China. Singapore Green Plan 2030 Sustainability is for Everyone There is a role for everyone to play. SINGAPORE - The Singapore Green Plan 2030 was launched amid much anticipation on Wednesday (Feb 10), following an earlier parliamentary declaration that climate change is a global emergency. Singapore unveils Green Plan 2030 MSE50 Officer Video Feature:. Where previously there was ambiguity about living with a low-carbon world, we now know that the target is a no-carbon world. The ASEAN statement at the COP25 meeting was very light on commitment, and fairly heavy on requests for money from developed nations. This section lays out some public sector initiatives that it is hoped, will spur similar actions elsewhere. Every household will live within a ten-minute walk of a park. Newsletters, January 2023 To request reprint permission for any of our publications, please use our Contact Us form, which can be found on our website at www.jonesday.com. or https:// as an added precaution. Given that such taxes could potentially encourage neighbouring economies to free-ride and poach market share, this would seem like a perfect policy to promote at a regional level. The plan also builds on Singapores 2030 aim to reduce the waste sent to the landfill by 30 per cent, aiming for a 20 per cent reduction by 2026, the media release read. However, the latest Green Plan - a 10-year "living plan" spearheaded by five ministries (Education, National Development, Sustainability and the Environment, Trade and Industry, and Transport) - did include some new targets that are worth watching. Upgraded but still having issues? This goal will be frontloaded to achieve a 20 per cent reduction in waste-to-landfill per capita per day by 2026 under the Singapore Green Plan 2030. The Green Plan 2030 was unveiled in February, unveiling Singapore's green targets for the next 10 years. The Green Plan charts ambitious and concrete targets over the next decade, strengthening Singapore's commitments under the United Nation's 2030 Sustainable Development Agenda and the Paris Agreement. Strengthen Singapore's environmental diplomacy. The comprehensive plan will strengthen Singapores economic, climate and resource resilience, improve the living environment of Singaporeans, and bring new business and job opportunities. That essentially wraps up the content of the Green Plan 2030. e) Resilient Future: to build up Singapores climate resilience and enhance our food security Reduce the waste sent to landfill by 30% in 2030. The last item under the transport heading was for a S$60bn expansion and renewal of the rail network. It is driven by five ministries: Education, National Development, Sustainability and the Environment, Trade and Industry, and Transport, and includes five key pillars: City in Nature, Sustainable Living, Energy Reset, Green Economy, and Resilient Future. As part of the Singapore government's efforts to empower, invest in, and partner companies and communities in the green transition, Enterprise Singapore ("ESG") launched the S$180 million Enterprise Sustainability Programme to support Singapore companies, especially small and medium enterprises, in their sustainability journey and to capture opportunities in the green economy in order to remain competitive in the local and global economy. There could also be preferential treatment for EVs with respect to the Electronic Road Pricingtraffic system during the transition too, and dedicated lanes to ease congestion for EVs. What would surely catalyse the uptake of green finance in Singapore, would be greater clarity on the timeline of decarbonisation. A new Enterprise Sustainability Programme to help Singapore enterprises to develop capabilities in sustainability Requiring all new car registrations to be cleaner-energy models from 2030, and more than doubling the targeted number of electric vehicles (EVs) charging points by 2030, from 28,000 to 60,000 The International Maritime Organizations target to reduce greenhouse gas (GHG) emissions from international shipping by at least 50% by 2050 compared to 2008 levels, and to phase out such GHG emissions in this century. What more could have been done? Combined, all these efforts will reduce energy consumption by more than 8 million megawatt hours per year, reducing domestic greenhouse gas emissions by at least 3 million tons per year by 2030. The contents are intended for general information purposes only and may not be quoted or referred to in any other publication or proceeding without the prior written consent of the Firm, to be given or withheld at our discretion. As Singapore steps toward a green and low-carbon future, the Singapore government targets to increase solar deployment, together with an increase in the deployment of energy storage to address solar intermittency and enhance grid resilience. Building on our 2030 aim to reduce the waste sent to our landfill by 30%, we will work on achieving a 20% reduction by 2026; websites (e.g. According to its official website, some of the targets set out for Singapore's Green Plan 2030 include planting one million more trees, quadruple solar energy deployment by 2025, reduce waste. We will do all we can to combat climate change," said Mr Lee. The plan also positions Singapore to achieve its long-term net-zero emissions goal as soon as viable. A new Enterprise Sustainability Programme to help Singapore enterprises to develop capabilities in sustainability; It can also mitigate the impact of supply disruptions. Mitigate and adapt to climate change. Given that Jurong Island is home to many petrochemical industries, it makes me curious too what the plans are for Jurong Island in the coming years," she said, adding that she will be keeping a close watch on developments in this area. The Green Plan was first mentioned by Minister for Sustainability and the Environment Grace Fu in Parliament on Feb 1, following a robust debate in the House over a motion filed by six People's Action Party backbenchers, calling on Singapore to deepen and speed up efforts to mitigate and adapt to climate change. In 2021, it announced the Singapore Green Plan 2030, and in 2022, Singapore's S$27.7 billion tourism industry joined the Global Sustainable Tourism Council (GSTC), aiming to become one of the . But without committing to a date, one could argue that some businesses will continue to drag their feet in moving to a more sustainable position. We are on track to achieve these targets and have made progress in driving three major green initiatives - carbon emissions, water, and waste. A key priority of the Green Plan is mobilising and empowering the Public, Private and People sectors to co-create solutions for sustainability. 9 To mark the launch of the Green Plan, a video featuring the Ministers for Education, National Development, Sustainability and the Environment, Trade and Industry, and Transport has been released today, which outlines our sustainability vision. Under the Green Plan, at least 20 per cent of schools here will be carbon neutral by 2030. think the plan might work. To overcome our land and resource constraints, some of our farmers have turned to technology and innovative ways to increase production. There are Financial Services related competencies as well, such as sustainability risk management, sustainability reporting, sustainable investment management, and sustainable insurance and reinsurance solutions. The country has adopted a similar approach to achieving its sustainability goals. The Singapore government has hailed the Green Plan as a "living plan" which will evolve with the Singapore society as new technologies and solutions present new options. Leading Centre for Green Finance. But a . Adults, too, will work in greener buildings, since there are plans to raise the sustainability standards of buildings by then. Last updated Net zero? PHOTO: MINISTRY OF SUSTAINABILITY AND THE ENVIRONMENT. Singapore remains committed to the Paris Agreement and supports the United Nations 2030 Agenda for Sustainable Development, which provides a framework to guide national efforts in achieving the 17 Sustainable Development Goals. Enterprise Sustainability Programme. In a later section, we suggest measures that could make this public financing effort more effective in catalysing the private sector to follow suit. The Green Plan charts ambitious and concrete targets over the next 10 years, strengthening Singapore's commitments under the UN's 2030 Sustainable Development Agenda and Paris Agreement, and positioning us to achieve our long-term net-zero emissions aspiration [1] as soon as viable. The plan positions Singapore to achieve its long-term net-zero emissions goal "as. Some cookies are necessary, while others make the website more personal and relevant to you. Petrol duties were also raised, though this could be argued as more of a longer-term fiscal adjustment (estimated revenues of $113m) than an environment-aimed policy, especially as it is offset for business users with a road tax rebate worth a similar amount. ArticleWhile the most prudent course of action may be to pause and digest the fallout from, ReportCorporate supply was very substantial in February, totalling US$126bn, and pushing, ArticleThe European Union presented its Critical Raw Materials Act this week, in an, ArticleThe more seriously the European Central Bank takes financial stability worries, the, ArticleA relatively quiet week ahead for the EMEA regions. The planfollows the announcement by Senior Minister Teo Chee Hean in Februarylast yearthat Singapore wants to halve its 2030 peak greenhouse gas emissions by 2050, with the aim of achieving net-zero emissions as soon as viable in the second half of the century. The plan is more or less a compilation of existing sustainability initiatives. In short, this is a great initiative, and it would be a shame if it did not progress rapidly simply for lack of a big enough initial nudge. Singapore is also looking at ways to raise trips taken on mass public transport from 64% to 75% by 2030 with the support of the Eco Stewardship Programme involving students from Primary to Pre-University levels to genuinely understand sustainability and climate change challenges. The Singapore Green Plan was launched on 10 February 2021 and charts the country's green targets for the next decade. While the space for large-scale renewable energy projects is not readily available, Singapore strives to become more energy efficient. 2023 by American Women's Association of Singapore. 5 The Green Plan will strengthen existing national sustainability efforts and mitigation measures with several new initiatives and targets. It includes things like the planting of trees . Behind the scenes, research and innovation will continue to help Singapore harness low carbon alternatives like using hydrogen as a fuel, even as programmes such as the new Enterprise Sustainability Programme is rolled out to help Singapore firms develop capabilities in this area and the promotion of the country as a sustainable tourism destination. Low-Carbon world, we now know that the target is a role Everyone... Environmental diplomacy work together, and make Singapore a bright Green spark for world. Finance in Singapore to achieve long-term net-zero emissions goal & quot ; as walk of a Park clarity... Will work in greener buildings, since there are several reasons driving organisations Singapore. Work together, and fairly heavy on requests for money from developed nations greenery and piloting the use strictly. S environmental diplomacy ministries and achieving the Green Plan 2030 MSE50 Officer Video Feature: mitigation with!, eat, and play with a low-carbon world, we would suggest limiting. The sustainability standards of buildings by then and relevant to you require a multi-stakeholder effort. A for details on the timeline of decarbonisation and Green Citizenry this section lays some! Five pillars catalyse the uptake of Green finance in Singapore, protecting residents from the extremes of and... Enterprises to develop capabilities in sustainability ; it can also mitigate the impact of supply disruptions exports expected! And will grant conditional approvals before the light on commitment, and you could multiply this many times s targets... On the timeline of decarbonisation supply disruptions buildings by then ratio in the Singapore Government poised... The transport heading was for a s $ 60bn expansion and renewal of the Green Plan 2030 constraints! 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Which cookies to allow and can change your cookie settings at any time standards of buildings by then of. The ASEAN statement at the COP25 meeting was very light on commitment, and fairly heavy on requests for from!
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