On The Horizon — Renewable Energy In Asia: Singapore

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1. What are the driving factors for increasing renewable energy production in Singapore?

Prompted by concerns about climate change, fossil fuel depletion, and increasing urbanization, Singapore, a low-lying, densely populated, urban island in the tropics which is particularly vulnerable to climate change, is following the global shift toward energy security and the production of sustainable and renewable energy sources.

Singapore’s lack of indigenous natural resources makes it almost entirely dependent on oil and natural gas imports to meet its energy needs. Singapore is also susceptible to supply risks such as under-investment in energy production by energy exporters, geopolitical conflicts that may disrupt energy supply, and the vicissitudes of rising energy prices. It is thus both crucial and timely that Singapore join the global race to secure adequate and reliable energy supplies from diverse sources.

The bid for environmental sustainability, energy efficiency, and “clean-tech” is very much in line with Singapore’s reputation as a Garden City, which was established some 40 years ago with Singapore’s program to “green” its largely urban and commercial developments. The greening of Singapore is thought to have played a significant role in the social and economic development of Singapore’s thriving economy, and the current move toward finding alternative and renewable sources of energy is a natural one for Singapore. As a result of a history of environmental and developmental planning, Singapore is well placed to refine existing energy measures to better address climate change and the ensuing consequences...

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Topics:  Asia, Environmental Policies, Renewable Energy

Published In: Energy & Utilities Updates, Environmental Updates, Finance & Banking Updates, International Trade Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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