Singapore Still Optimistic About 2050 Goal of Net-Zero Emissions

Singapore has committed to net-zero emissions by 2050. Although emissions are still increasing, the government expects a steady decline from 2028. The biggest constraint Singapore faces is its limited land area, which makes large-scale renewable energy projects challenging. Rather than seeing this as a blockade, Singapore is pushing forward through technological innovation, regional cooperation, and global partnerships.

Energy Innovation & the Future Mix

Natural gas currently supplies about 95% of Singapore’s electricity. Its role is projected to decline over the long term as cleaner technologies scale up. To meet its net-zero goal, Singapore will need to transform its energy mix and rely more on of greener technologies.

Singapore is considering new sources of green energy:

• Solar power already contributes to the energy mix today, but is constrained by land limitations. Projects like the floating solar farm at Tengeh Reservoir illustrate how innovations can help overcome this barrier. Solar is expected to take on an even larger share of Singapore’s energy mix as the technology evolves. [1]

• Hydrogen is central to Singapore’s decarbonisation roadmap. Although international trials have shown mixed results so far, it is being considered for industrial applications, heavy transport, and energy storage - provided cost, infrastructure, and supply can be scaled sustainably.

• Carbon Capture, Utilization and Storage (CCUS) is also essential for reducing emissions. The first projects are under development and the potential for Singapore is large.

• Nuclear energy may very well become a key component in Singapore’s future energy mix. Singapore is studying the potential while seeking to address safety concerns and technology issues. [2]

  
  

Regional Cooperation & Carbon Markets

Given its unique challenges, importing green electricity from neighbouring countries is essential. A crucial step in this direction is the ASEAN Power Grid, which seeks to connect energy systems across Southeast Asia. ADB is working with development partners to establish dedicated financing solutions for the initiative. [3]

Meanwhile, Singapore is also aiming to be a hub for carbon markets, with projects like its domestic carbon exchange, Climate Impact X, and its role in the Coalition to Grow Carbon Markets, an initiative by Singapore, UK, and Kenya and which has since been joined by France and endorsed by Peru. [4]

Denmark’s role

Singapore is actively seeking partners who can help deliver solutions to achieve its net-zero goal. Denmark brings deep expertise in renewable energy, grid integration, energy systems, and CCUS. There is strong potential for Danish companies to provide innovative green solutions for export to Singapore, supporting both countries’ sustainability ambitions.

Are you a Danish provider of green solutions looking to expand to Singapore or the ASEAN region? Contact Head of Trade, Rasmus Bjørnø, at rasbjo@um.dk

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[1] Floating Solar | Sembcorp

[2] Singapore and Nuclear Energy: A Conversation in Progress | EMA

[3] ADB and the ASEAN Power Grid | Asian Development Bank

[4] First-of-its-kind government coalition to issue shared principles on carbon credit use by COP30 to boost climate finance | VCMI