Last month, Singapore released its S$104 billion (US$77.2 billion) spending plan for the year ahead. The announced budget focused heavily on keeping individuals and businesses afloat amid the rising cost of living, but was light on sustainability-related measures in the near term.
Despite being one of the wealthiest cities in the world, Singapore could be a "potential claimant" for loss and damage funding as it is still considered a developing country in global conventions, said the nation's environment minister Grace Fu.
In other news, a Reuters investigation revealed that a nationwide shoe recycling programme helmed by government agency Sports Singapore and petrochemicals giant Dow has veered off track. Will this undermine the trust Singaporeans have in the country’s recycling initiatives?
On a brighter note, a research team's project to turn organic waste, like banana peels, into a sought-after material for purifying water is bearing fruit. The team of scientists from National Technological University is working to optimise the design of the prototype, known as a "solar still", which has potential to be used to get clean water in disaster zones with limited access to electricity.
An investigation by Reuters tracked shoes donated for recycling in Singapore to Indonesia where they were being re-sold in flea markets. Critics say the exposé could undermine the faith Singaporeans have in the city's recycling system.
The S$104 billion spending plan focused heavily on helping individuals tackle high inflation and economic uncertainty, but made no mention of sustainability measures in the near term. What does this mean for Singapore's green transition?
The wealthy city-state has developing country status in global conventions, which could see it become a receiver of climate funds. Singapore has maintained that countries with a long history of industrialisation should pay.
The withdrawal of Golden Agri-Resources and IOI Group from the High Carbon Stock Approach has raised concern among environmental groups that palm oil firms are weakening their sustainability pledges.
If left unchecked, plastic consumption will double by mid-century. A global single-use plastic ban will still see plastic consumption grow one and a half times current levels by 2050, new research warns.
[VIDEO] Singapore researchers are trying to give banana skins and coconut husks a new lease of life in water purification kits that can be used in disaster situations. They could one day also be used in the manufacture of batteries.
Taskforce launches final green taxonomy consultation
The Green Finance Industry Taskforce, convened by the Monetary Authority of Singapore (MAS) will publish the final green and transition taxonomy for Singapore-based financial institutions by the first half of 2023. The taxonomy, which covers eight sectors accounting for close to 90 per cent of greenhouse gas emissions in Southeast Asia, aims to drive more financing flows towards the region's net zero transition.
GIC to take about five per cent stake in European renewable energy firm
Singapore's sovereign wealth fund has commited to investing €1 billion (US$1.06 billion) to buy a stake in one of the world's largest renewable energy producers EDP Renovaveis (EDPR). EDPR looks to add 1.2 gigawatts (GW) of new renewables capacity in Asia by 2026 through home-grown renewable energy firm Sunseap, which it acquired a 91 per cent stake in last year. It will focus on "high growth, large markets" like Vietnam, China, Singapore and Japan, said the CEO of its parent company EDP.
Crow crisis
Following reports of crow attacks after a crow's nest was removed from a street in Bishan, the National Parks Board said it would cull the birds, which it considers an invasive species in Singapore. The Animal Concerns Research and Education Society (ACRES) suggested reducing their access to food and modifying their habitats instead of culling. A petition launched in opposition to the culling.
