Governments, businesses, and communities need to collaborate to reduce carbon emissions to ensure that decarbonisation is not just a buzzword.
Even before the larger global awareness that carbon emissions needed to be curbed, Singapore was an early contributor to global climate goals. On September 24, 2024, a ULI panel discussion called “Implementing Decarbonisation” brought together diverse stakeholders, including representatives of the Housing & Development Board (HDB), developers, innovators, and financial institutions.
In land-scarce Singapore, the question of what to do with older buildings is critical for both public and private entities. Chintan Raveshia—principal, Arup—moderated the session and raised the issue of redevelopment in the city: “Can repurposing and retrofitting ever become a primary and viable choice for redevelopment instead of opting for demolition and reconstruction?”
For banks, typically new buildings offer larger financing opportunities. However, Yoonmee Jeong—head of the Global Wholesale Banking Sustainability Office, OCBC—reminded the audience that “In Singapore, around 5 percent of the buildings are new. That means, in 10 years, we’re only touching on 50 percent of the building. That’s not enough to achieve our climate goals, so the bank encourages both development of green buildings through green financing and retrofit of existing ones through sustainability-linked financing.”
Vinamra Srivastava—chief sustainability and sustainable investments officer, CapitaLand Investment—provided an innovative example, pointing to a shopping centre in Bishan, Singapore: “In 2005, we utilized the Urban Redevelopment Authority’s Community/Sports Facilities Scheme, which promoted the integration of community facilities . . . . In return, we were allowed to expand retail space in one of our shopping malls, Junction 8. We did this in partnership with the National Council of Social Service by offering rent-free office space to social service agencies, and we were the first real estate company to do so. You have to be innovative in business. So, for me, it is on a case-by-case basis. You must be economically prudent and not just go with a one-size-fits-all approach that any redevelopment is bad.”
Technological solutions have also become increasingly popular with builders and investors alike. Lia Nicholson—director of sustainability, Terrascope—pointed to how start-ups are partnering with corporates to push the boundaries of sustainability innovation by citing the example of reinforced concrete slabs. “Post-tensioning concrete, which uses steel cables, is wrapped in plastic before the concrete is poured. So, it [results in] much less material, much less concrete, and lower emissions. The slabs can be narrower . . . so, building heights are lower.” According to Nicholson, using this technique along with recycled materials will lower the embedded carbon emissions by approximately 70 percent, compared to industry standard.
The panel discussed the need for a lifecycle carbon analysis when making decarbonisation decisions. Tan Wooi Leong—senior executive director, energy, SJ Group—said, “Decarbonisation is a complex challenge that requires carefully considered strategies balancing economic pressures with environmental goals. We need to look into the expectations of what we want to achieve out of decarbonisation. To hit cost parity against whatever we have existing now is a very challenging journey, so we have to be pragmatic about it.” He shared some practical examples of carbon capture as a component of this lifecycle analysis—new polymeric membrane technology that could help decarbonise emissions from the oil and gas industries; a company in Finland that can capture CO2 from existing HVAC systems.
Although technological solutions are abundant, stakeholders need to look for scalability and cost parity in existing technologies. According to Srivastava, the trick is to allocate green capital expenditure in the right areas. He cited the CapitaLand Sustainability X Challenge, a global initiative that sources emerging solutions to address sustainability challenges affecting urban development: “We have been working with 30 innovators in various stages of progress. We’ve got everything from sensors that can automate irrigation to automatic solar panel cleaners to automatic waste sorting machines, and so on. If I can layer three or four technologies, [each] giving me 5 to 7 percent [decrease in emissions], plus if I put an AI [software as a service] solution layer that can automate the fault detection in my building, I can achieve another 10 percent to 12 percent there. So, if I add all of these up, that works better than waiting for technologies that make the headlines, because otherwise, I’ve got to wait five years for it to make any practical sense.”
As the largest developer of housing in Singapore, HDB plays a key role in supporting the country’s commitment to sustainability. Beyond developing green and sustainable towns, HDB also renews and rejuvenates existing homes to improve livability. In 2020, HDB launched a 10-year programme called the HDB Green Towns Programme, which aims to reduce energy consumption in existing HDB towns by 15 percent (versus 2020 levels) by 2030.
HDB’s efforts in decarbonisation do not stop there. Tan Sze Tiong, HDB’s chief sustainability officer and group director of the Building & Research Institute, provided examples of HDB’s other initiatives: “We are replacing conventional lighting systems at HDB blocks, island-wide, with smart lighting systems to reduce energy consumption. Separately, we are also harnessing solar energy to power common services such as lifts, lighting, and water pumps. Our goal is to reach a target of 540 megawatt-peak by 2030, from solar deployment on rooftops of HDB blocks.”
Singapore Green Plan 2030, a national agenda on sustainable development, is an example of how governments can ensure that climate change and sustainability lead beyond rhetoric. For any city, various decarbonisation approaches—green financing, technological innovation, sustainable construction, incremental changes—are vital. The various methods feed into one another, but even as standalone approaches, different means are important to achieving global decarbonisation goals. After all, every drop in the ocean helps keep it from warming up.
