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Singapore ESG and Clean Energy: Powering a Sustainable Future
SUMMARY
- Singapore has emerged as a leading hub for sustainable innovation and technology in Asia, being highlighted as one of the few major economies showing true momentum by balancing progress across energy sustainability, security and equity by the World Economic Forum’s (WEF) 2023 Energy Transition Index.
- Singapore has established itself a frontrunner in sustainable solutions by raising its national climate target in 2022 to achieve net-zero emissions by 2050 as part of its long-term low-emissions development strategy.
- Singapore relies heavily on imported gas which accounts for more than 90% of the country’s electricity mix leading to growing emissions from the power sector. According to the Energy Market Authority, the power sector contributes 40% of the country’s carbon footprint. Singapore’s clean energy transition is primarily centred around solar energy and regional electricity imports.
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