February 27, 2024

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Singapore Centralised Low-Carbon Initiatives to Support Green Plan 2030

Singapore’s Minister of Trade and Industry, Gan Kim Yong, stated that the country is considering several options to decarbonise its power grid, including boosting solar power and importing low-carbon energy from the region. Mr Gan spoke at the inaugural Singapore Green Plan Conversation hosted by the Ministry of Trade and Industry.

Mr Gan also stated that the country intends to use regional electricity systems. The Lao People’s Democratic Republic-Thailand-Malaysia-Singapore Power Integration Project has also begun, with cross-border power trading of up to 100MW between the four nations participating.

Over the last five years, Singapore’s solar energy capacity has increased by more than sixfold. By 2030, the goal is to increase solar energy deployment by fivefold to at least two gigawatts, which would power roughly 350,000 homes annually.

“We are embarking on a trial with Malaysia to import up to 100MW of electricity. This trial will allow us to build up our knowledge on larger-scale low-carbon imports from the region,” he added. “For us, climate change is an existential challenge.”

Singapore is a small city-state – without natural resources, land, nor climatic conditions for large-scale deployment of renewable energy sources. We, therefore, take sustainable development very seriously.

– Gan Kim Yong, Singapore’s Minister of Trade and Industry

The Singapore Green Plan 2030 was unveiled earlier this year as a plan for the country’s carbon reduction efforts. City in Nature, Sustainable Living, Energy Reset, Green Economy, and Resilient Future are the five pillars of the strategy. Ministers of state for trade and industry Low Yen Ling and Alvin Tan also attended the Singapore Green Plan Conversation, which intended to engage businesses and representatives from trade sectors.

The minister went on to say that the green economy will open up new doors for Singapore. “Singapore has the potential to become a carbon services centre. Companies will demand competence to control their carbon footprint as the world moves toward a low-carbon future. We aim to work with regional stakeholders to help them achieve their decarbonisation goals “he remarked. In addition, companies and employees are also urged to improve their competencies and seize new chances.

OpenGov Asia reported that per a joint press release from two countries, Singapore will join Australia in drafting a Green Economy Agreement (GEA). The cooperation intends to hasten both countries’ transition to a greener, more sustainable future, while also creating jobs and reducing carbon emissions. The agreement will highlight initiatives to encourage and ease trade and investment, with an emphasis on reducing regulatory burdens on businesses. It also aims to eliminate non-tariff obstacles to trade in environmental goods and services and to speed up the adoption of low-emission green technology.

The countries claimed this “world-first agreement” will deepen their bilateral connection through strengthened economic and environmental relations in a joint vision statement released following the conference. The agreement’s larger goal is to serve as a guide for multilateral and regional policy development by establishing policies, standards, and initiatives that will not only create good jobs in green growth sectors but also strengthen environmental governance and global capacity to deal with environmental issues.

Singapore and Australia already have an open, liberalised trade and investment relationship and are both prominent proponents of a global trading system based on open norms. Singapore is also collaborating with Australia on a solar power project that would provide green energy to Singapore via a 4,200-kilometre underwater cable from Darwin, Australia.

Moreover, the Singapore government is following up on the results of two feasibility studies, one on low-carbon hydrogen and the other on carbon capture, utilisation, and storage (CCUS) technology. As a developing country with limited access to alternative energy, these technologies are likely to play an essential part in the country’s transition to a low-carbon future.

Finally, the CCUS technology will assist the government in meeting its climate action obligations and goals, as outlined in the upgraded 2030 Nationally Determined Contribution and Long-Term Low-Emissions Development Strategy, as well as the Singapore Green Plan 2030.

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

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

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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.

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