Singapore Goes Green

Investment Opportunities Prevail As Singapore Goes Green

• Singapore companies are global leaders in the Environmental, Social and Governance (ESG) space
• Singapore’s Green Plan is helping to drive new business opportunities across many companies and sectors
• The key ESG sectors in Singapore ranges from energy and waste treatment to food and finance

A Green National Agenda

Sustainability has long been a central part of Singapore’s development strategy. The country unveiled its first-ever Green Plan in 1992 and its latest in February this year (2021). The Singapore Green Plan 2030 sets ambitious targets to peak carbon dioxide emissions at 65 million tonnes by 2030 and halve emissions to 33 million tonnes by 2050.

To do this, Singapore is committed to using cleaner forms of fossil fuels in the short term while exploring greener options. To date, over 95 percent of Singapore’s fuel mix comes from natural gas. Coals comprises only one percent of the country’s fuel consumption, compared to nearly 30 percent in Japan and Germany.

Additionally, Singapore is expanding into renewable energy and recently completed construction of one of the world’s largest inland floating solar energy systems. Having grown its solar capacity by seven times since 2015, it is now one of the most solar-dense cities in the world and on course to meet its target capacity of two GWp of solar energy by 2030.

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