Green Economy

Green Economy

We will seek green growth to create new jobs, transform our industries and harness sustainability as a competitive advantage

Transform existing sectors and help them decarbonise

Targeted incentives have been introduced to help our companies become amongst the best-in-class globally in terms of energy and carbon efficiency. For example,

• EDB administers the Resource Efficiency Grant for Energy, which supports manufacturing companies to reduce their emissions. NEA’s Energy Efficiency Fund supports companies to build capabilities and decarbonise early by adopting energy efficient technologies by funding up to 70 per cent of qualifying costs.

The Energy and Chemicals sector is also a key partner in the development of emerging low-carbon technologies, such as carbon capture, utilisation, and storage. These technologies can be pivotal in enabling decarbonisation at scale, and are crucial in helping us achieve our long-term climate ambitions.

Help our businesses seize opportunities in the green economy

The global transition to a low-carbon economy brings about new opportunities in areas such as green finance, carbon services and trading, and sustainable tourism. The Government will continue to partner businesses and workers, and foster a conducive environment for them to adapt to and take advantage of these opportunities.

• As part of the Research, Innovation, and Enterprise (RIE) initiative, the Government will support the development and commercialisation of innovative solutions pertaining to sustainability, such as in clean and renewable energy, the circular economy, and low-carbon solutions. ESG launched the Enterprise Sustainability Programme to support Singapore businesses on sustainability initiatives, and to capture new opportunities in the green economy. The programme will support training workshops, capability and product development projects, and key enablers such as certification and financing.

In support of SDGs: