Speech at RICS X REDAS Conference - Dr Amy Khor

Speech by Dr Amy Khor, Senior Minister of State for Sustainability and the Environment, at the Annual RICS X REDAS Conference on 23 October 2024 at Singapore Marriott Tang Plaza Hotel

Ms. Tina Paillet, President, Royal Institution of Chartered Surveyors (RICS)

Mr. Tan Swee Yiow, President, Real Estate Developers’ Association of Singapore (REDAS)

Distinguished Guests

Ladies and Gentlemen

1 Good morning. I am pleased to join you for the annual RICS x REDAS conference, and I congratulate RICS and REDAS for successfully organising yet another year of this conference. This is a meaningful platform that brings together professionals and practitioners from the building and real estate sector to exchange views and gain insights into the opportunities and challenges the sector faces in our move towards a net zero future.

2 Today, we gather under the banner of “Net Zero Carbon Cities: Dream or Reality”, a theme that challenges us to reimagine cities of our future. The pursuit of net zero cities is not a mere aspiration, but an essential reality that we must actively shape with sound decisions.

3 Cities are responsible for over 70% of global CO2 emissions today. More specifically, the Built Environment sector accounts for approximately 40% of global CO2 emissions. One of the factors causing cities to have higher emissions is the Urban Heat Island, or UHI effect. This is where urban areas are warmer than the surrounding areas due to increased human activities, reduced green spaces, and more built-up areas. The United Nations projects that approximately 2.5 billion more people will be living in cities by 2050. Urbanisation, along with its associated infrastructure and energy needs, will exacerbate the UHI effect as cities replace natural landscapes with concrete, trapping heat. As the temperatures in cities rise, the energy demands for cooling also increases, leading to even higher emissions and creating a vicious cycle for cities and indeed, globally.

4 It is important to strike a balance between preserving nature and urban development. As we grapple with emissions from growing cities, the building and real estate sector can help with creative solutions to green our buildings and to reduce rising emissions driven by urbanisation. How we design our buildings and the materials we choose can either aggravate or mitigate the impacts of heat on our built environment. For example, we can reduce the heat on buildings using cool paint coatings. In Singapore, HDB has started to pilot cool paint technology in Tampines. The cool paint has shown to potentially reduce on-site temperature by up to 2 degrees Celsius. If the pilot initiative, expected to be completed by the end of this year, is found to be successful, the application of cool paint can be extended to more estates.

Building a Net Zero Singapore

5 The Government adopts a multi-pronged approach to urban development and prioritises the greening of our built environment. Using innovation and technology, we seek to build a liveable green city in every aspect of our daily lives, be it designing climate resilient buildings, greening our energy sources, or promoting sustainable commuting options. Allow me to share some of our national-level strategies to promote this.

6 As a city-state, buildings account for over 20% of Singapore’s emissions. Greening our buildings is therefore a key strategy to achieve our sustainability ambitions under our Singapore Green Plan 2030, and to fulfil our international commitments on climate change. Under our Singapore Green Plan, the Building and Construction Authority (BCA) and the Singapore Green Building Council (SGBC) have jointly developed the Singapore Green Building Masterplan (SGBMP), which captures our collective commitment to pursue more ambitious sustainability standards in our built environment. The masterplan aims to deliver three targets of “80-80-80 in 2030”. The first 80 is to green 80% of our buildings by 2030. The second 80 strives to have 80% of our new developments be Super Low Energy buildings from 2030. The third is to achieve 80% improvement in energy efficiency for best-in-class green buildings by 2030. As of the end of 2022, about 55% of Singapore’s buildings by gross floor area (GFA) have been greened, nearly 20% of new developments by GFA are Super Low Energy buildings, while the best-in-class buildings have achieved a 71% improvement in energy efficiency compared to 2005 levels .

7 We are also aiming to make Singapore a net zero city by harnessing greener energy such as solar power and emerging low-carbon alternatives such as hydrogen. Given our limitations as a small nation and being disadvantaged in alternative energy, we are prioritising innovation and collaboration to reshape our energy supply. One example is the Keppel Infrastructure @ Changi, where solar panels have been seamlessly incorporated into the facility’s design, maximising energy while minimising environmental impact. Together with solar panels on its rooftop, the building can generate approximately 600,000 kWh of renewable energy per year, enough to offset more than twice of the building’s energy consumption.

8 Beyond that, we are also transforming Singapore into a City in Nature. By 2030, every household will be within a 10-minute walk from a park. Our urbans areas will be naturalised and greened even further. Our Jurong Lake District (JLD) for example, is planned as the largest mixed-used business district outside the city centre and will serve as a living lab for urban sustainability solutions. Notably, the 90-hectre Jurong Lake Gardens within JLD will help to promote climate resilience through water sensitive-urban designs which will cleanse water runoff and harvest rainwater to irrigate plants. JLD serves as an example of advanced urban design that combines extensive green spaces, smart technology, and sustainable infrastructure, setting a new standard for urban development. Such projects allow us to demonstrate, test and refine new technologies and solutions, which enable us to find an optimal solution to achieve our net zero goals.

Support for the Built Environment Sector

9 I am heartened that many of you are driving sustainability in your sector through the many iconic buildings and infrastructure that the building and real estate sector has worked hard to build. We have also made progress in developing net zero buildings. One example is the National University of Singapore’s School of Design and Environment which won the Green Mark Platinum Champion Award by BCA. The building incorporates innovative features like solar panels and a hybrid cooling system which balances out the energy it generates and consumes. Another is DBS Newton Green, which was certified by BCA as a Green Mark Platinum Zero Energy development and is Singapore’s first net zero building by a bank. Samwoh Smart Hub industrial building, too, has been recognised with BCA’s Platinum (Positive Energy) award for generating more energy than it uses and has close to 2,600 solar panel to generate enough energy to achieve net energy surplus.

10 But we understand that incorporating environmental, social, and governance (ESG) considerations into business practices often entails significant investments, not just in terms of capital, but also in innovation.

11 To support the industry, BCA has several schemes. The Green Mark Incentive Scheme, for example, has been instrumental in promoting the adoption of environmentally friendly building technologies and designs practices through cash and gross floor area incentives. Recently, we announced key amendments to the Building Control Act to enact the Mandatory Energy Improvement (MEI) regime. The MEI regime requires owners of energy intensive buildings to engage a professional to carry out the energy audit of the building’s energy consuming system. This in turn pushes industry players to implement measures to reduce energy consumption.

12 While the Government has a significant role to play in supporting our journey towards net zero, the impact will be much bigger if every company and every individual in the built sector champions environmental sustainability across various domains in their organisations.

13 Over the years, we have seen technology in the built environment, ranging from climate control materials, energy, water and waste management to air quality control quickly developing. Though the science of climate change is still evolving, we must continue to boldly experiment with cutting-edge technologies available to pave the way for innovative solutions that can transform the built environment of Singapore into a greener and more sustainable one.

Conclusion

14 In conclusion, the building and real estate sector is vital to Singapore’s continued commitment to achieving net zero. I encourage all companies to take bold steps in integrating innovation, collaboration and eco-friendly practices into your next projects.

15 With the proactive engagement and commitment of all players in the industry, together, we can build a future where Singapore remains a world-class city, and where real estate developers and stakeholders collectively build legacies that stand the test of time and contribute towards a resilient, vibrant and sustainable home for all Singaporeans.

16 Thank you.