In his 2021 Budget statement, Deputy Prime Minister and Minister for Finance Heng Swee Keat outlined the Singapore Green Plan, a national movement and whole-of-society effort to build a sustainable Singapore for all generations.

 

For more information on Singapore Green Plan 2030, click here.

Harnessing technology

Technology opens new possibilities and will help us overcome climate change:

  • Urban Solutions and Sustainability
    Investing in research will help us build a more sustainable and livable  environment. For instance, the development of an Integrated Environmental Modeller helps urban planners maximise thermal comfort for residents.

  • Agri-Food Cluster Transformation Fund
    $60 million has been set aside to further support tech adoption in the agri-food sector.

Changing the future of transport

Emissions can be reduced by going car-lite, as well as by switching to cleaner-energy vehicles.

  • Electric vehicle (EV)-related initiatives
    $30 million will be set aside over five years for initiatives such as developing  charging infrastructure. The Government aims to deploy 60,000 charging points at public carparks and private premises by 2030.

  • To encourage the adoption of electric cars
    The Government will narrow the cost difference between EVs and internal combustion engine cars, e.g. lowering the Additional Registration Fee floor to zero from Jan 2022 to Dec 2023,and revising the road tax treatment for electric cars.

  • To discourage the use of internal combustion engine vehicles
    Petrol duty rates will be raised by 15 cents per litre for premium petrol and 10 cents per litre for intermediate petrol.

To offset the petrol duty increase:

  • Motorcycles using petrol will be given a 60% road tax rebate. Individual owners of smaller motorcycles up to 400cc will receive a petrol duty rebate of $50, or $80 in cash

  • Active taxi and Private Hire Car Drivers using petrol and petrol-hybrid vehicles will be given a petrol duty rebate of $360 over 4 months, on top of 15% road tax rebate

  • Goods vehicles and buses using petrol will receive 100% road tax rebate

  • Cars using petrol will receive 15% road tax rebate

Green financing

Green finance is an important enabler for sustainability efforts. The Government will issue green bonds on selected public infrastructure projects to catalyse the flow of capital towards sustainable development in Singapore and Asia.

Up to $19 billion of public sector green projects have been identified to be financed with green bonds as a start.

One such project is Tuas Nexus, which integrates waste and water treatment facilities, and maximises energy and resource recovery in the solid waste and used water treatment processes.

A whole-of-society effort

The public sector will take the lead in the Environmental Sustainability Initiatives. This includes reducing electricity and water consumption, achieving the Green Mark standard for buildings and committing to goals under the “GreenGov.SG” initiative.

Businesses and households are encouraged to also play their part.

The Government will:

  • Launch the Enterprise Sustainability Programme to help enterprises, especially SMEs to use resources more efficiently and develop new green products and solutions

  • Partner Singaporeans and support ground-up projects which aim to build a more sustainable future
Building a green Singapore will require a whole-of-society effort, and I hope that we can harness the ideas and energies of the public, private, and people sectors.
DPM Heng Swee Keat
For more on Budget 2021, visit www.singaporebudget.gov.sg