Singapore submitted its new emissions reduction target on 10 February, aiming to reduce emissions to 45mn-50mn t of CO2 equivalent (CO2e) in 2035 as part of its nationally determined contribution (NDC).
This is a progression from its first NDC which targeted a reduction in emissions to around 60mn t of CO2e in 2030. Singapore's emissions totalled 58.6mn t of CO2e in 2022, according to the country's National Climate Change Secretariat. The nation aims for net zero emissions by 2050.
Countries party to the Paris agreement were supposed to submit their new climate plans — NDCs — for 2035 to the UN climate body the UNFCCC by 10 February, as part of the ratchet mechanism which requires them to review and revise plans every five years. But only a few countries have submitted their plans as of 11 February.
Singapore's second NDC is an economy-wide absolute greenhouse gas (GHG) emissions reduction target, and the key sectors covered are energy, industrial processes and product use, agriculture, land use, land-use change and forestry and waste.
The NDC was formulated based on the outcomes of the first global stocktake (GST) that took place at the UN Cop 28 climate summit in 2023. "Singapore is contributing to the first GST's call to triple global renewable energy capacity and double the global average annual rate of energy efficiency improvements by 2030," according to the NDC. The country is also supporting efforts to transition away from fossil fuels in energy systems and phase out inefficient fossil fuel subsidies.
Singapore has increased the share of natural gas in its energy mix to 95pc, compared to around 18pc in 2000. The country's Energy Market Authority's latest emissions standards also require new fossil fuel generation units to be at least 30pc hydrogen-ready by volume, with the ability to be retrofitted to be 100pc hydrogen-ready in future.
Singapore has raised its target for clean electricity imports from around 4GW to around 6GW by 2035. This is expected to meet one-third of the country's energy needs. The country is also looking into cross-border green electricity trading with its neighbours.
Singapore is actively exploring the possibility of a cross-border carbon capture and storage project, as it is land-scarce and dependent on bilateral co-operation to sequester CO2.
Singapore has additionally attempted to mobilise finance to support Asia's decarbonisation efforts through programmes such as the Financing Asia's Transition Partnership, a blended finance initiative under which the country has pledged up to $500mn in concessional capital to match concessional capital from other partners in the scheme dollar-for-dollar.
