In recent years, the Singapore Government has steadily been increasing the breadth and depth of policies relating to sustainability and climate change.
This reflects the Government’s view that these areas are important to the ongoing success of the country long term and that the Government takes sustainability and climate change seriously. In the 2020 budget, and the subsequent Committee of Supply debates, a number of announcements were made, or reconfirmed, in these areas.
Announcements ranged from the update to the country’s first national targets under the Paris Agreement and the Low Emissions Development Strategy through to targets for uptake of electric vehicles and targets for industrial energy efficiency.
In addition to announcements relating to decarbonisation and mitigation of climate change, the Singapore Government is devoting significant resources to adaptation efforts and preparing the country for some of the impacts that climate change will present.
The policy landscape can be complex so the team at engeco have reviewed these policies and summarised the key impacts on businesses. We have looked at both the announcements made in 2020 as well as announcements made in previous years that have been enhanced or reconfirmed.
What are the things that businesses in Singapore should be considering and take into account as future plans are being made? This is particularly relevant as the economy starts to recover from the Covid-19 pandemic. This policy review covers:
- Singapore’s decarbonisation goals
- The outlook for the carbon price
- Electric vehicle policy
- Renewable energy strategy
- Energy efficiency
- Use and import of refrigerants
- Climate change adaptation
- Transition to a circular economy
- Urban solutions and sustainability
- Sustainable financial instruments
To download engeco’s policy review document, head to the engeco website.
engeco is a Singapore based consultancy that specialises in climate change. We are focussed on helping companies accelerate their transition to a low-carbon economy by analysing their exposure to climate change risks and helping develop robust climate change strategies.
engeco provides services along the entire value chain of climate change strategy from calculation and forecasting of company or facility emissions, analysis of climate change risks and opportunities, scenario analysis and development of decarbonisation strategies such as abatement opportunities or development of offset projects.
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To find out more, contact the engeco team at email@example.com