Search
Close this search box.

We are creating some awesome events for you. Kindly bear with us.

New Framework Rolled Out to Support Singapore’s Green Plan

Singapore is currently implementing efforts to make industrial production processes and energy usage more environmentally friendly and to improve energy efficiency. The Republic also aspires to become a sustainable tourism destination, as well as a carbon services hub and a centre for green finance, to help Asia’s sustainability efforts. This also entails ensuring that new carbon-intensive investments brought into Singapore are among the best-in-class in terms of carbon and energy efficiency.

The Green Economy, one of five key pillars of the new Green Plan, aims to seek green growth opportunities to create new jobs, transform Singapore’s industries and harness sustainability as a competitive advantage, the statement said.

With this objective, Singapore’s National Environment Agency (NEA) recently launched an SGD 3 billion multicurrency medium-term note programme as well as a green bond framework to fund the development of sustainable waste management infrastructure.

The first such project is the new waste management facility, which is Singapore’s first integrated facility to treat incinerable waste, source-segregated food waste and dewatered sludge. “Issuance of green bonds will help develop green finance solutions and markets, supporting Singapore to become a leading centre for green finance in Asia, and around the world,” the NEA said in a media release on Tuesday. It is the first statutory board to issue green bonds in support of Singapore’s green finance market.

The waste management facility will be the country’s first to treat incinerable waste, source-segregated food waste, and dewatered sludge all at the same time. It will also be able to sort household recyclables collected through the national recycling programme. The facility will be co-located with the waste management facility’s Public Utility Boards to form Singapore’s first integrated solid waste and used water treatment facility, which will meet the country’s long-term solid waste management and used water treatment needs.

NEA’s chief executive officer says: “The establishment of NEA’s green bond framework to finance the waste management facility and other environmentally sustainable projects, marks another milestone in our stewardship journey. The waste management facility will be the region’s most advanced, efficient and integrated solid waste treatment facility that treats separate waste streams with greater energy efficiency and reduces Singapore waste resource management’s overall carbon footprint.”

Minister for Sustainability and the Environment, who announced the medium-term note programme at the launch of the Plastics Recycling Association of Singapore on Tuesday, called it a “major milestone to catalyse the flow of capital towards sustainable development, and green our economy as part of the (Singapore) Green Plan”. Examples of other sustainable waste management projects eligible for such financing could involve material recovery in recyclables; waste processing and recycling; thermal efficient sludge incineration.

The National Environment Agency also developed an e-waste recycling innovation that is now being implemented in retail outlets. The Resource Sustainability Act requires retailers with a floor space of 300 square metres or more to set up in-store collection services for the consumer electrical and electronic products they sell. Collection can take the form of over-the-counter services or recycling bins, and retailers must also provide free take-back services for end-of-life products to customers. The discarded items must be picked up when a new product is delivered, regardless of the brand or where the item was originally purchased.

A green bond working group has been formed to identify and propose eligible green projects, while a green bond committee comprised of NEA’s senior leadership will oversee reviewing and endorsing projects that meet the framework’s requirements. A finance committee comprised of NEA board members will approve eligible projects to be funded through issuances.

Singapore is experiencing higher temperatures and shifts in weather patterns, and the plan is a key component of Singapore’s national climate change efforts. According to reports, a key component of this plan is to rethink how Singaporeans use energy. Decarbonising the power sector, which accounts for roughly 40% of Singapore’s carbon emissions, will be critical to the success of any energy reset efforts.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

As a Titanium Black Partner of Dell Technologies, CTC Global Singapore boasts unparalleled access to resources.

Established in 1972, we bring 52 years of experience to the table, solidifying our position as a leading IT solutions provider in Singapore. With over 300 qualified IT professionals, we are dedicated to delivering integrated solutions that empower your organization in key areas such as Automation & AI, Cyber Security, App Modernization & Data Analytics, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Renowned for our consulting expertise and delivering expert IT solutions, CTC Global Singapore has become the preferred IT outsourcing partner for businesses across Singapore.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.