The document outlines Singapore's Green Economy Strategy to decarbonize industries and the energy sector through several initiatives: 1) Transforming Jurong Island into a sustainable energy and chemicals park and increasing sustainable products output; 2) Increasing energy efficiency, deploying solar and energy storage, and exploring low-carbon energy solutions; 3) Driving new growth areas in green finance, carbon services, and sustainable tourism by supporting businesses through sustainability programs.

1. Joint Segment on the Singapore Green Plan
Committee of Supply (COS) Debate 2022
Singapore’s economic strategy must be underpinned by sustainability
– we will spur this through our Green Economy Strategy by:
Decarbonising our industries and the energy sector
•
•
Transform Jurong Island into a sustainable energy and chemicals park; target for
the E&C sector to increase its output of sustainable products by 1.5 times from
2019 levels, and achieve at least 2 million tonnes of carbon abatement per annum
from low-carbon solutions, by 2030.
Implement Singapore’s energy transition by increasing the energy efficiency of
power generation plants, accelerating solar and energy storage deployment,
facilitating the growth of a regional grid, and exploring alternative low-carbon
energy solutions.

2. Driving new areas of growth in the green economy
•
•
Exciting new opportunities to be seized, such as in green finance, carbon
services and trading, and sustainable tourism.
Support our businesses through the Enterprise Sustainability Programme, and
the Enterprise Financing Scheme-Green.
Investing in the development of low-carbon solutions
•
•
Invest in the potential for hydrogen deployment in Singapore, including through
R&D projects under the Low-Carbon Energy Research Funding Initiative,
through which $55m was awarded for 12 projects in 2021.
A*STAR’s reorganised Institute of Sustainability for Chemicals, Energy and
Environment (ISCE2
) to advance research to pave the way for alternative green
materials, products and processes.
Joint Segment on the Singapore Green Plan
Committee of Supply (COS) Debate 2022

3. •
Deepening the capabilities of our workforce
Equip our people to seize opportunities in the transition to a green economy,
including through reskilling and upskilling programmes.
Joint Segment on the Singapore Green Plan
Committee of Supply (COS) Debate 2022