Singapore - Environmental Technologies (POL)

Environmental Technologies (POL)

Last published date: 2024-01-05

Overview

Due to climate change and pollution factors, the Government of Singapore and many companies strive to find and adopt environmentally friendly services and solutions. Singapore has always maintained a balance between development and conserving the environment.

Singapore is committed to reducing its Emission Intensity by 36 percent from 2005 levels by 2030 and stabilizing its greenhouse gas emissions to peak around 2030. Singapore has identified the following five Green Growth Opportunities to develop Singapore as a green growth hub: Clean Technology, Test Bedding, Green ICT, Carbon Services, and Climate Finance and Climate Risk Management. As part of its transition to a low-carbon economy, Singapore has committed to reaching net zero by 2050. Net zero refers to a balance in which no more greenhouse gas is added than the amount taken away.

Singapore has taken an innovative approach to solving its water scarcity challenges over the past five decades, virtually erasing the extreme scarcity challenges the country once faced. Singapore has built a robust, diversified, and sustainable water supply from four water sources known as the Four National Taps – Water from 17 Local Catchments, Imported Water, 5 NEWater factories, and 5 Desalinated Water Reclamation plants.

Singapore is a very open economy and depends on the global supply chain for food and energy. As one of the most globalized economies and a trading nation with no natural resources, Singapore is dependent on the global supply chain for its food and energy. Singapore’s economic activity and emissions are also susceptible to the volatility of regional and global developments and escalating climate impacts. These challenges mean that Singapore’s climate strategies must respond to international developments that may affect its economy, water, food, and energy, including preparing Singapore to be more climate resilient.

Table: Environmental Technologies Market Size, million USD
	2020	2021	2022	2023 estimated
Total Local Production	4,066	4,215	4,058	3,501
Total Exports	9,323	10,245	10,699	10,306
Total Imports	10,205	12,456	12,986	11,127
Imports from the US	1,808	2,087	2,261	2,158
Total Market Size	4,947	6,426	6,345	4,322
Exchange Rates	1.39	1.35	1.38	1.33

Units: $ millions
Source: IHS Markit

Leading Sub-Sectors

Singapore’s journey toward becoming a Smart Sustainable City has demonstrated remarkable progress. With a clear vision to create a greener, more efficient, and interconnected urban environment, the city-state has effectively implemented a diverse array of innovative initiatives. The utilization of cutting-edge smart infrastructure has enabled data-driven decision-making, leading to an enhanced urban experience for residents. Embracing smart mobility solutions, Singapore has actively promoted eco-friendly transportation options and seamless integration of public transit systems.

Moreover, the city’s unwavering focus on energy efficiency has driven the widespread adoption of renewable energy sources and the implementation of smart grids to optimize resource management. Revolutionary data-driven approaches have transformed waste management systems, emphasizing recycling and waste-to-energy processes. Thoughtful urban planning strategies have prioritized sustainability, seamlessly integrating green spaces and energy-efficient buildings into the cityscape. Powered by advanced data analytics and artificial intelligence, Singapore’s smart city initiatives continue to thrive, ensuring its citizens a high quality of life and a future firmly grounded in sustainability.

Opportunities

Singapore is positioning itself as a living lab for companies to develop, test and commercialize urban solutions in a real-life setting before exporting them globally. One key area that Singapore Public Utilities Board is looking into is to reduce the energy involved in producing desalinated water or treated seawater. There are excellent opportunities for U.S. firms to sell smart water technologies and wastewater recycling equipment to the Singapore market.

The Singapore Government plans to support local companies to implement sustainability practices and integrated solutions and standards, while seeking new business opportunities in sustainability, as well as increasing the use of solar panels and energy storage solutions. The Green Plan is spearheaded by Singapore’s Ministries of Education, National Development, Sustainability and the Environment, Trade and Industry, and Transport.

Singapore continues to invest significantly in research and development to harness the potential of low-carbon technologies and explore practical international cooperation.