Singapore (VNA) – Singapore has pledged to invest 800 million SGD (approximately 630 million USD) over the next five years to support efforts to reduce carbon dioxide emissions, reinforcing its long-term climate ambitions.
As reported by the Singaporean financial newspaper The Business Times, Minister-in-charge of Energy and Science & Technology Tan See Leng said during his ministry’s Committee of Supply debate that the investment will be made under the Decarbonisation Research, Innovation and Enterprise (RIE) Grand Challenge (DGC). It aims to support research, innovation and translation efforts for low-carbon energy generation and industrial process decarbonisation technologies for the industry and power sectors.
“Building on past efforts, we are significantly increasing investments in promising solutions to reduce power sector and industry emissions, and at the same time, ensure a reliable and resilient power system,” he added as quoted by the article.
The DCG is one of two “grand challenges” under the national RIE2030 plan, with the first announced in December last year. The RIE grand challenges are large-scale research and translation programmes that advance national strategic priorities.
Decarbonisation has been identified as one priority, on account of Singapore’s commitment to reduce its greenhouse-gas emissions to between 45 and 50 megatonnes of carbon dioxide equivalent by 2035, and to reach net-zero emissions by 2050.
The 800 million SGD investment under the DGC will catalyse advancements in low-carbon technologies that can be deployed in Singapore to meet its climate commitments./.
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