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Snapshot: Singapore's Green Plan 2030

Updated: Jun 8

Earlier this year, Singapore unveiled its Singapore Green Plan 2030. Often referred to as the Green Plan, this nation-wide movement seeks to advance Singapore' national agenda on sustainable development. The Green Plan focuses on enhancing Singapore's economic, climate and resource resilience whilst creating new business and job opportunities that in turn improve the living standards and environment of Singaporeans. As a whole, this ambitious plan serves to strengthen Singapore's commitments under the UN's 2030 Sustainable Development Agenda and to the Paris Agreement.



Leaders of the Green Plan

Collective effort is imperative in order to balance trade-offs that occur amidst the green transition and to pace transformation to ensure industries do not face displacement from sudden economic structural changes. Thus, the Green Plan is a multi-agency effort spearheaded by five Singaporean ministries, namely:

Pillars of the Green Plan

Founded on the urgency of climate change and the need for sustainable economic recovery following Covid-19, the Green Plan comprises of five key pillars that serves to be overarching focus areas for sustainable development:

  1. City in Nature: to create a green, liveable and sustainable home for Singaporeans;

  2. Sustainable Living: to make reducing carbon emissions, keeping the environment clean

  3. Energy Reset: to increase energy efficiency through cleaner fuel usage to lower Singapore's carbon footprint;

  4. Green Economy: to seek green growth opportunities to create new jobs, transform Singapore's industries and harness sustainability as a competitive edge;

  5. Resilient Future: to build up Singapore's climate resilience and enhance its food security.

Overview of Singapore's Green Plan - from www.greenplan.gov.sg

Budget 2021: Singapore Green Plan 2030

Singapore's , which attempts to shift the focus from "containment to restructuring" within Singapore's economic reopening, was delivered in Parliament on 16 February 2021 by Deputy Prime Minister and Minister for Finance, Mr. Heng Swee Keat.


With regard to the Green Plan, 3 key enablers for 2021's green initiatives were highlighted - technology, green financing and the collective action of Singapore and Singaporeans.


Technology

1. Food Resilience: Agri-food Cluster Transformation Fund

  • $60 million fund to continue supporting tech adoption in the agri-food sector.

2. Cleaner Energy for Emissions Reduction: Encouraging Electric Vehicle (EV) Adoption

  • 60,000 EV charging points at public carparks and private premises by 2030.

  • $30 million set aside for EV-related initiatives over the next 5 years.

  • Increasing the affordability of electric cars by narrowing the cost differential between electric cars and internal combustion engine (ICE) cars.

  1. Lower Additional Registration Fee floor from $5,000 to $0 for EV from January 2022 to December 2023;

  2. Adjust road tax for EV so that mass-market electric cars pay road tax comparable to ICE cars

  • Raising petrol duty rates:

  1. For premium petrol, the duty will be raised by 15 cents per litre;

  2. For intermediate petrol, the duty will be raised by 10 cents per litre

Capital: Green Financing

  • Green bond issuance for selected public infrastructure projects, of which $19 billion of public sector green projects have already been identified, such as Tuas Nexus for instance.

  • Deepen market liquidity for green bonds to attract green issuers, capital and investors to Singapore's financial centre.

Actions of Singapore & Singaporeans

  • GreenGov.SG initiative: The Government, which intends on leading by example, will commit to more ambitious goals under the GreenGov.SG initiative for the public sector in order to highlight the renewed focus of the public sector's contribution towards national sustainability goals.

  • Enterprise Sustainability Programme: The Government will support local business to seize new opportunities in the green economy. the programme will help enterprises, specially SMEs, use resources more efficiently and develop new green products and solutions.

Green Plan Conversations: A Collaboration Opportunity

To encourage meaningful climate action and greater public engagement, the Ministers leading the Green Plan have organised a series of Green Plan Conversations.


The purpose of these community dialogue sessions is to hear the public's views on how Singapore can be made greener and potential can be maximised and fulfilled while accounting for its landscape and context.


Sharing an Idea with the Singapore Government

In addition to public discourse, the Government has also published a form where ideas can be shared for potential consideration and implementation.


For more information about the Singapore Green Plan 2030:

  1. Singapore Green Plan 2030, Introducing the Green Plan, Available at www.greenplan.gov.sg/

  2. Ministry of Sustainability and the Environment, Climate Game Changer, more available at https://www.mse.gov.sg

  3. Ministry of Transport, Sustainable Transport, more available at https://www.mot.gov.sg

  4. Ministry of Education, Nurturing Stewards of the Environment, more available at https://www.moe.gov.sg

  5. Ministry of Trade and Industry, Available at https://www.mti.gov.sg

  6. Ministry of National Development, Available at www.mnd.gov.sg/

  7. National Climate Change Secretariat, Carbon Services And Climate Finance, more available at www.nccs.gov.sg/

  8. Monetary Authority of Singapore, Greening the Financial System, Available at www.mas.gov.sg/

  9. National Research Foundation, Prime Minister's Office, Singapore, RIE 2025 Plan, Available at www.nrf.gov.sg

Contact the Royal Danish Embassy in Singapore for more information about business opportunities and how Denmark seeks to inspire green transition in Southeast Asia:

Mark Edward Perry

Senior Commercial Advisor at Royal Danish Embassy Singapore

Phone: +65 9088 5567

Email: markpe@um.dk

LinkedIn

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