Singapore Green Economy Regulatory Initiative
Singapore’s regulatory agility helps businesses seize opportunities in the green economy.
Singapore’s Ministry of Trade and Industry (MTI) launched the Green Economy Regulatory Initiative. A new platform consolidating sandbox efforts by various Singapore regulatory agencies to encourage and support companies and businesses in developing sustainable products and services in the green economy, allowing businesses to get a quicker response and support from the relevant agencies.
With Singapore focusing on the impact of climate change and the transition to a low-carbon future, businesses can submit their proposals through this platform, helping businesses to trial their ideas quickly and potentially introduce new green solutions to Singapore.
The following are the key areas:
1. Carbon services and trading
2. Circular economy (Plastics recycling and e-waste recycling solutions)
3. CO2 to aggregates
4. Electric vehicles
5. Energy (Solar, energy storage systems and smart grid solutions)
7. Sustainable aviation and maritime
8. Sustainable tourism
U.S. Businesses that are interested in submitting their proposals can do so here.
As part of the Singapore Green Plan, the Singapore Government announced that the country will reach a net-zero greenhouse gas emissions by 2050. Net zero means any residual emissions from hard-to-abate sectors, such as aviation or some industrial processes, will be removed by buying carbon offsets or using technology that removes CO2 from the atmosphere.
Solar energy is currently Singapore’s main source of renewable energy for electricity generation and is already one of the most solar-dense cities in the world. Singapore also plans to tap on regional power grids to increase efficiency to reduce emission.
For more information, please contact Singapore Trade Specialist Mr. Ng Haw Cheng or Trade Assistant, Sherry Ng.