Gardens by the Bay, while iconic, was designed to exemplify principles of sustainability (Credit: Isaac Matthew), Singapore's first floating solar farm (Straits Times, March 24, 2021), Blue SG, a Singapore company providing nation-wide electric-car sharing and electric car charging services (Credit: Egar Su). The wide-ranging plan cuts across all sectors of society, ranging from infrastructural development, research and innovation, to training programmes. For example, Koreas Green New Deal. Other sustainability measures under the plan, such as extending the lengths of cycling paths or greening roads here, had also been set out in another document detailing national targets. As such, the country "will be making a determined effort to address this challenge head-on," he said. The gift link for this subscriber-only article has expired. Mediacorp Pte Ltd. All rights reserved. No. ALL WOMEN, ALL WALKS OF LIFE, ALL NATIONALITIES, stories, adventures and all things related to life in Singapore and Southeast Asia by AWA members, According to the Brundtland Commission's report, sustainable development, the processes used to pursue sustainability, means "meeting the needs of the present without compromising the ability of future generations to meet their needs.". This addresses the growing demand for sustainable finance talent in Singapore; and covers knowledge areas such as climate change policy developments, natural capital, green taxonomies, carbon markets and decarbonisation strategies. Singapore's government plans to review other power import proposals and will grant conditional approvals before the . 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. Building on its commitment towards the United Nations' Sustainable Development Goals (UN SDGs) 2030 Agenda and Paris Agreement, Singapore recently launched the Singapore Green Plan 2030 in February this year. Singapore currently has only around two thousand charging points for electric vehicles, one for approximately every 250 cars. 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. 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. In the spirit of Singapore Together, we will work together with Singaporeans and our partners to co-create solutions and realise the Green Plan. This is a substantial increase from the prior 28,000 target. But a . To continue, upgrade to a supported browser or, for the finest experience, download the mobile app. Trusted websites. 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 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. 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. The Singapore Green Plan 2030 outlines the strategies to become a sustainable nation. But more details about these initiatives will be needed to assess their effectiveness at curbing greenhouse gas emissions. She noted that sustainability cuts across many areas, and having ministries work together could help resources to be pooled. Be among the first to know the Breaking news. Read this subscriber-only article for free! The five ministries backing the plan are the Ministries of Education, National Development, Sustainability and the Environment, Trade and Industry, and Transport. b) Sustainable Living: to make reducing carbon emissions, keeping our environment clean, and saving resources and energy a way of life in Singapore; By clicking subscribe, I agree to receive news updates and promotional material from Mediacorp and Mediacorp's partners. Published by SPH Media Limited, Co. Regn. You have reached your limit of subscriber-only articles this month. [8] These include: A key target under the Green Plan is for Singapore to be a leading centre for green finance in Asia and globally. 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. In particular, its strategic position as a regional hub in Southeast Asia can empower the region in its sustainability and decarbonisation efforts and accelerate Southeast Asia's green transition. With the Singapore Green Plan 2030, Singapore has joined the ranks of countries making solid pledges in the direction of sustainable development. The Singapore Green Plan 2030 comprises 5 main pillars: City in Nature Energy Reset Sustainable Living Green Economy Resilient Future Why it matters To many, 2020 was a tipping point for climate action. Singapore unveils Green Plan 2030 MSE50 Officer Video Feature:. The Green Plan will be supported by the Eco Stewardship Programme in schools, to strengthen the inculcation of informed, responsible and sustainability-conscious mindset and habits in our young. It also strengthens Singapores commitments under the United Nations' 2030 Sustainable Development Agenda and Paris Agreement, said the five ministries in a joint media release on Wednesday. The plan positions Singapore to achieve its long-term net-zero emissions goal "as. "The SGBMP captures our collective commitment to pursue more ambitious sustainability standards in our Built Environment," said Mr Lee. The Green Plan 2030 was unveiled in February, unveiling Singapore's green targets for the next 10 years. All rights reserved. Singapore Green Plan 2030 to change the way people live, work, study and play, All done! The review of the carbon tax rate is a positive development but potentially, could have been fast-tracked further to provide a greater push to some of the other complementary policy initiatives such as Green finance. The roadmap is guided by the Singapore Green Plan 2030 and the United Nations (UN) Sustainable Development Goals. They aim to increase their green energy use to 75% by 2022; 90% by 2023; and 100% by 2024. Road tax treatments are also being revised to bring EVs into line with their ICE equivalents. The comprehensive plan will strengthen Singapores economic, climate and resource resilience, improve the living environment of Singaporeans, and bring new business and job opportunities. Along with other economies, including most notably China, Korea has now set target dates for net zero carbon emissions ahead of this years COP26 climate change conference in Glasgow. 83% of those polled in our recent survey think it is important for Singapore to be able to produce her own food to reduce reliance on imports. A bold target to net-zero by Singapore might also encourage neighbouring countries to follow suit we consider the role of ASEAN later when discussing carbon taxes. 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. By quadrupling its solar energy deployment, solar energy deployed will be five times that of today by 2030. 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. Biomass is also not something that will ever be readily available to Singapore. ASEANs climate change credentials are not currently particularly impressive. Under Singapore's Zero Waste Masterplan, we aim to increase the national overall recycling rate to 70 per cent and reduce waste-to-landfill per capita per day by 30 per cent by 2030. At least 20% of schools to be carbon neutral by 2030. Such support will focus on three key componentsdeveloping sustainability capabilities in enterprises, strengthening sector-specific capabilities, and fostering a vibrant and conducive sustainability ecosystem. 7 The Green Plan is a living plan, which will evolve as we develop and refine our strategies, taking into account technological developments, and as part of a continuous national engagement process. A progress update on the Green Plan was provided during the Committee of Supply Debate in March 2022 ("Green Plan Progress Update"), where the Singapore government made various updates and announcements on the key targets and initiatives in support of the Green Plan. Throw in all the MRT stations and encourage private housing to do likewise with subsidies, and you could multiply this many times. Subject to other approvals, power exports are expected to commence post-2030. The plan to import up to 10GW of (solar) energy from Australias Northern Territory will undoubtedly also be required. 2 Spearheaded by five ministries the Ministries of Education, National Development, Sustainability and the Environment, Trade and Industry, and Transport and supported by the whole of Government, the Green Plan builds on the sustainability efforts of preceding decades. The EV push in Singapore is welcome, though it is starting a little later than in some economies, and one could argue that it consequently needs a slightly stronger push than has been given here. As Singapore's leading industrial developer, JTC has started accelerating and proliferating our sustainability efforts almost 3 years . SINGAPORE: To address climate change and promote sustainability, Singapore will soon launch a Green Plan that will be a major policy priority for the Government, said Minister for. "We need to ensure a Singapore for our future generations. After all, sustainable living does not just impact the environment. This is a nationwide movement to advance Singapore's national agenda on sustainable development and features five key pillars: City in Nature, Sustainable Living, Energy Reset, Green Economy and Resilient Future. In a later section, we suggest measures that could make this public financing effort more effective in catalysing the private sector to follow suit. What would surely catalyse the uptake of green finance in Singapore, would be greater clarity on the timeline of decarbonisation. The current ratio in the Netherlands is about one for every 150 cars. We would hope it would be. In a separate Facebook post, Deputy Prime Minister Heng Swee Keat said that climate change is an existential challenge for Singapore. The Green Plan has five key pillars: lock () Our Food Future, Last Updated 03 Mar 2023, Holistic planning of the Lim Chu Kang area to. 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. In this note, we outline the main features of this plan and consider the measures being adopted in a global context, highlighting where additional measures might have been adopted or considered for future budgets. Copyright Mediacorp 2023. The certification is just one component of Singapore's Tourism Sustainability Strategy, which launched in 2022. To facilitate Singapore's transition to a low-carbon economy and spur Singapore's development as a green finance hub, the Singapore government announced at Budget 2022 that the public sector will issue S$35 billion of green bonds by 2030 to fund public sector green infrastructure projects. "I hope the Green Plan will catalyse a broader national movement to take action to secure a sustainable future for Singapore. 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. Realising these sustainability goals will require a multi-stakeholder whole-of-nation effort. 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. All rights reserved. ESG is also working with industry partners to develop training workshops and capability or product development projects. Singapore's Green Plan 2030 is a "national sustainability movement" which aims to turn us into a more eco-friendly country over the next decade. What Are The Green Plan's Key Targets? 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. 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. That is the equivalent of 42 soccer pitches and provides enough unused space for about 300MW of solar PV power generation. 60,000 is a very competitive figure by current international standards. 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. The ASEAN statement at the COP25 meeting was very light on commitment, and fairly heavy on requests for money from developed nations. 26 Feb 2021. 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. Government agencies communicate via Much of that vision to keep Singapore both sustainable and livable stems from . This is a very positive aspiration, which will help keep Singapore a car-lite nation, but as a pre-existing plan, it may be generous to include it as a new item in this budget. or https:// as an added precaution. "It will influence all aspects of our lives, from how we live to how we work and play, as we work together as a nation to make Singapore a greener and more liveable home," they added. All of us have to work together, and make Singapore a bright green spark for the world," he said. 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. There are Financial Services related competencies as well, such as sustainability risk management, sustainability reporting, sustainable investment management, and sustainable insurance and reinsurance solutions. Recently, the Singapore government unveiled the Singapore Green Plan 2030. 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. a) City in Nature: to create a green, liveable and sustainable home for Singaporeans; All of this infrastructure will be built within a city cloaked in green as more initiatives are rolled out to help nature meander its way into the heartland and the hearts of residents. 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