S'poreans aged 21 to 59 can now claim $600 SG60 vouchers
The vouchers, which can be claimed at go.gov.sg/sg60v, are valid till Dec 31, 2026. They can be used at over 23,000 hawkers and heartland merchants, as well as eight supermarket chains with 400 outlets across the island.
Over 915,000 Singaporean seniors aged 60 and above, or more than 83 per cent of Singapore's 1.1 million seniors, have claimed their $800 SG60 vouchers since July 1.
Senior Minister of State for Trade and Industry Low Yen Ling shared the figures in a Facebook post on July 22, saying that it was encouraging to see many more seniors embracing digital vouchers.
Ms Low said that more than $127.6 million has been spent to date. Some $76.6 million has been spent at hawkers and heartland merchants, and more than $51 million at supermarkets.
The list of participating outlets is available on go.gov.sg/sg60voucher.
Every eligible Singaporean will also receive a specially-designed SG60 postcard featuring six unique artworks by seven differently-abled artists, and a personal message from Prime Minister Lawrence Wong.
The SG60 vouchers were among a slew of goodies announced by PM Wong in his Feb 18 Budget speech to mark Singapore's 60th year of independence. He said the vouchers are to recognise Singaporeans' contributions and share the benefits of the nation's progress.
These vouchers are like CDC vouchers and can be claimed digitally on RedeemSG via Singpass.
They can be used at all businesses that accept CDC vouchers, with half for use at supermarkets, and the remainder at heartland merchants and hawker stalls.
The SG60 vouchers are estimated to cost the Government a total of $2.02 billion.
"The SG60 Vouchers have fostered a strong sense of community, with individuals from all walks of life coming together to assist those who need help with the claiming and spending of vouchers," Ms Low said.
These include volunteers, the Singapore Digital Office Digital Ambassadors, CDC Ambassadors, and Silver Infocomm Wellness Ambassadors, she added.
Ms Low urged Singaporeans to support local businesses in their neighbourhood as National Day draws near.
She also warned people to beware of scams, adding that no banking details are needed to redeem vouchers.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Times
3 hours ago
- Business Times
From Singapore to the world: Homegrown leaders in emerging fields
Singaporeans are equipped to take unconventional paths, says Kajima's youngest leader 'If you are able to contribute meaningfully, there is room to thrive within global platforms,' says Luke Wu, managing director at The GEAR, Kajima. When Luke Wu stepped into a leadership role in one of Japan's oldest and largest construction groups, he did not just take an unconventional path, he redefined what leadership at the firm looks like. The 34-year-old is the youngest managing director at construction and engineering conglomerate Kajima, which is behind iconic buildings including Parkway Parade, OUB Centre and Resorts World Sentosa. Four years after joining Kajima in 2021, he rose to oversee The GEAR company, a new business unit within Kajima – the group's first and only overseas research and development (R&D) facility, as well as the firm's regional headquarters. Wu, who completed his law degree at the National University of Singapore, has always been drawn more to building ventures and ecosystems than to traditional legal practice. 'Early in my career, I worked across startups and innovation initiatives, where I saw how ideas could be turned into real-world impact. While moving into the built environment and a multinational corporation (MNC) like Kajima may seem unconventional, many of the skills I had developed proved highly transferable,' he says. What was particularly compelling was that the group gave him the chance to tackle complex, long-term challenges that shape the world we live in. He adds: 'Kajima, with its 180-year history, continues to evolve and was willing to back someone with an unconventional profile to lead a completely new function. That openness reflects how MNCs today are rethinking leadership and innovation.' Wu says in the process of building and leading innovation-centric functions in large organisations, he found that trust is foundational, translation or the ability to align perspectives and priorities is essential in implementation, and that long-term thinking matters. 'Real innovation does not happen on a quarterly timeline. It requires patience, consistency, and a clear sense of purpose. I was fortunate to be involved in the launch of The GEAR building, and the decision to set it up as a new function to build capabilities for Kajima and the region from the early days. The shift from physical infrastructure to innovation platform allowed me to bring my past experiences into something future-facing, rooted here in Singapore,' he notes. Located in Changi Business Park, The GEAR is a smart building that houses the technology services business as well as the open innovation platform of the Kajima group. Despite the journey being rewarding, it is not without prejudices. One of the biggest hurdles for Wu was earning credibility, particularly as leadership is often associated with seniority. 'One key lesson is that credibility is earned through clarity, consistency, and contribution,' he says, adding that he also had to get comfortable with not having all the answers. What also helped Wu was that he stayed curious, learnt quickly, and focused on the work and the people around. He adds that it is vital to be able to work across cultural lines, balance global expectations with local execution, and build influence through trust rather than authority. Singaporeans, he says, are often better equipped than they think for global roles. This is because people here grow up in a diverse, fast-paced society that teaches them the ability to work across systems and cultures. 'I hope my experience shows that young Singaporeans don't need to wait for permission to lead or stick to predefined roles. If you are able to contribute meaningfully, there is room to thrive within global platforms. 'Your training might start in one area, but with curiosity, adaptability, and a willingness to challenge assumptions, new paths can open up in unexpected ways.' Grooming Singapore's new tech leaders starts with collaboration and mentorship at SAP 'My early international assignments... have profoundly influenced my approach to teamwork and collaboration,' says Manik Narayan Saha, managing director of SAP Labs in Singapore and Vietnam. Much like how artificial intelligence (AI) improves continuously, Manik Narayan Saha is constantly learning to keep his ideas fresh. Such is his belief in upskilling that he has pursued numerous training programmes, including a Masters in applied finance in 2008, an executive education from INSEAD in 2016, and an executive programme from Stanford in 2023. And this motto has served him well in his 29-year career. Now, Saha is on a mission – to help develop a vibrant AI community in Singapore. The managing director of SAP Labs in Singapore and Vietnam says it boils down to collaboration and mentorship. Nearly all of the German enterprise application and AI company's new hires at SAP Labs Singapore are from local universities – about 90 per cent are from Nanyang Technological University (NTU) and the National University of Singapore (NUS). 'When we proposed setting up SAP's AI research and development (R&D) teams in Singapore in 2021, we used data on university and research rankings, and conversations with professors to back our pitch,' says the NTU alumnus. Currently, Saha oversees a team of 600 in Singapore and Vietnam. SAP has been in Singapore since 1989 and the office here is the organisation's first Asian subsidiary. In Singapore, the Labs team has grown to 410, of which 250 are in the AI division and as a global AI centre of excellence, it is filing patents regularly, says Saha. He notes that SAP's collaboration with EDB and the Infocomm Media Development Authority (IMDA) not only helped accelerate the team's growth, but also aligned the company with Singapore's National AI Strategy 2.0 to foster a vibrant AI community. For instance, SAP, NUS and EDB announced in 2024 an industrial Doctor of Philosophy (PhD) scheme to rope in about 10 PhD candidates in SAP research projects. The company also encourages cross-border partnerships to expand staff skill sets. 'We believe that these comprehensive approaches, including research collaborations and recruiting graduates into AI roles, will contribute to a more capable and skilled AI workforce n Singapore,' Saha says, adding that some of these employees could be the next generation of tech leaders here. Beyond that, Saha is a firm believer of international experience. This, as competition for global roles has intensified partly due to remote working, a broadened talent pool, and higher demand for better paying roles. Companies now favour candidates who can navigate complex global markets to drive innovation, so Singaporeans should be bold to embrace overseas opportunities, says Saha. 'My early international assignments to Dalian, China, and Seattle, United States, with port operator PSA Corporation, followed by my tenure as a trainee at US tech firm Sun Microsystems in 2005, and two years in Germany with SAP (2009-2010), have profoundly influenced my approach to teamwork and collaboration,' he notes. The overseas stints provided him with significant insights and appreciation for a myriad of cultures, which is crucial for any leadership role within a global company. Increasingly, having an international mentor or coach is valuable in handling the complexities of senior leadership roles, says Saha, who adds: 'This mindset, along with a commitment to continual learning, is instrumental in achieving success within global organisations.' Connecting science to save lives in a biopharma career at MSD 'I have always taken a liking to biological and life sciences since my teenage years,' says Luisiawati Khalil, director in global clinical trial operations for Singapore and Malaysia, MSD Research Laboratories. All it took was an optional course just before graduation to ignite Luisiawati Khalil's career in the biopharmaceutical field. The 'Good Clinical Practice' course in 1994 at the University of Surrey, where she earned her degree in nutrition and dietetics, was a game-changer. Further inspiration came in 2011 when she earned her Master of Public Health at the National University of Singapore. 'I attended it, and the entire contents just 'spoke to me',' she says, drawn by the fact that she can save lives through clinical work. And this is at the heart of what good clinical practice is about – to provide care for patients through excellent teamwork, flawless clinical operations, and collaboration with Singapore's top institutions. It typically involves diagnosing, treating, managing medical conditions, assessing patients and evaluating treatment outcomes. 'I have always taken a liking to biological and life sciences since my teenage years,' says Luisiawati, whose interest was piqued by the idea that she too, could play a role in drug development that gives hope to patients. That spark brought her to MSD, a global biopharmaceutical leader, where she has stayed for over 20 years and now serves as director in global clinical trial operations for Singapore and Malaysia within MSD Research Laboratories. Luisiawati, now in her 50s, started at MSD as a clinical research associate and climbed the ranks over the years to lead trials in oncology, vaccines, and general medicine. Her journey has been rewarding, but it has also been demanding. Monitoring clinical trials in hospitals is hard work, but the challenges invigorate Luisiawati. And there are plenty in this field – having to deliver under stress, to follow ethical and time-sensitive standards, to stay up-to-date with regulations, and policies in different jurisdictions that may not be as friendly for trials to be conducted. What adds to the shine of the sector for her is the fact that Singapore has many key opinion leaders in selected therapeutic areas. What this means is that the industry is vibrant and collaboration is plenty. It then ensures that Singapore is competitive and comparable to international standards, says Luisiawati. MSD, known as Merck & Co Inc in the United States and Canada, has been in Singapore for 30 years, employs over 1,800 people, and manufactures and supplies four of its top 10 global products from Singapore. Multiple functions including research, manufacturing, and commercial operations are located in Singapore, with its Asia-Pacific headquarters. The group has an extensive presence in Singapore and invested in expanding its operations, which include manufacturing facilities, an animal health site, a translational medicine research centre, and an information technology hub. In Singapore, MSD has made investments in excess of US$2 billion for manufacturing assets since 1997 and over US$240 million in research since 2009. So how can other Singaporeans excel in global MNCs like her? 'Go back to first principles,' says Luisiawati, who adds that people should remind themselves of what they are passionate about and good at. Another tip – be comfortable with the uncomfortable, she says. So what lesson has she learnt along the way that matters a great deal? Ask and Luisiawati will say it is best summed up by MSD's founder, George Merck: 'We try never to forget that medicine is for the people. It is not for the profits. The profits follow, and if we have remembered that, they have never failed to appear.' This, she says, 'is a tenet that gives me reason and purpose to wake up every day and do what I do'.
Business Times
3 hours ago
- Business Times
DBS: A purpose-driven and innovation-led bank for Asia
IN 1968, as Singapore was just finding its feet as an independent republic, a bank was established to finance the future of a young nation. The Development Bank of Singapore as it was then known, DBS was tasked with nation-building, underwriting the industrialisation of a city that dared to dream. Nearly six decades on, DBS has not only become Southeast Asia's largest bank by assets but has also been recognised as the World's Best Bank multiple times by leading global publications. Yet, its identity remains deeply interwoven with Singapore's own journey. 'These developmental roots speak to our culture of purpose in nation-building and helping our clients on their growth paths,' says DBS CEO Tan Su Shan. From shaping skylines to seeding industries, DBS in its early years played a central role in Singapore's rise. Its involvement in strategic industrial projects laid the groundwork for Singapore's future in many sectors, including high-tech industries. It also helped develop pivotal real estate projects, including the Raffles City Convention Centre, then the largest commercial property development in Singapore. These projects not only transformed the cityscape but also sparked economic activity that propelled the country forward. Hon Sui Sen (left), Howe Yoon Chong (2nd from left) and S Dhanabalan (right) topping off the 50-storey DBS Building in 1974. All three served as DBS Chairmen. As Singapore developed, DBS evolved from a state-led development institution into a full-fledged commercial bank. It played a crucial role in establishing Singapore's financial infrastructure with pioneering innovations. The bank launched Autosave, Singapore's first interest-bearing current account, in 1980 and introduced PayLah! in 2014, driving digital payment adoption well ahead of the national PayNow system. In addition, DBS helped catalyse the development of Singapore's fledgling capital market, leading the stock market listings of iconic brands like Singapore Airlines and SingTel. The bank enabled participation of retail investors in new listings via ATMs – a global first. As a pioneer of real estate investment trusts (REITs), DBS launched CapitaMall Trust, Singapore's first REIT, and subsequently helped establish Singapore as Asia's largest REIT hub outside Japan. In wealth management, DBS worked closely with the Monetary Authority of Singapore (MAS) to promote Singapore as a wealth hub, launching AI-driven platforms and championing sustainable investing. The integration of POSB into the DBS family further embedded the bank into the everyday lives of Singaporeans. 'The notion of being 'neighbours first, bankers second' further entrenched our role in society,' says Tan. 'We became more deeply embedded in the lives of Singaporeans – even right from birth with many parents opening their baby's first bank account with POSB.' Today, Singapore is positioning itself for its next phase of development beyond SG60 with a focus on technology and innovation, building a sustainable and green future, and fostering a more inclusive society. DBS is aligning itself to meet those national priorities. 'As a leader in digital banking and a strong champion of helping companies transition to net-zero, we will continue to reimagine banking to support the nation's ambitions,' says Tan. DBS is also growing its footprint in what it calls 'connectivity markets' such as the Middle East, Australia and the West, following the expansion of its long-term Asian clients into new geographies. 'While we remain an Asia-focused bank, our aim is to follow our clients as they grow,' says Tan. Banking with purpose While many companies speak of values and vision, DBS has built its strategy and operations around a simple yet powerful purpose: to be the Best Bank for a Better World. 'Being purpose-driven is part of our DNA,' says Tan. 'From the time of DBS' and POSB's founding as the Development Bank of Singapore and 'People's Bank' respectively, we have believed in good citizenship.' 'Core to this is our belief that as a bank, we can do well by doing good – that is, to make a positive impact by enriching lives, transforming businesses and serving the communities we operate in,' Tan adds. That ethos is embedded in the bank's core values as captured in the mnemonic PRIDE! (Purpose-driven, Relationship-led, Innovative, Decisive, Everything Fun!) These are not just slogans on posters but criteria in performance reviews and daily decisions. 'Being purpose-driven is the reason DBS – through POSB – banks underserved segments such as migrant workers in Singapore,' Tan notes. 'It also underlines our efforts over the years to democratise financial planning for Singaporeans, support small businesses, and bolster digital and financial literacy efforts.' In 2014, DBS established the DBS Foundation to expand its impact beyond banking. Over the past decade, it has committed S$130 million to causes that drive social good and environmental sustainability. Now, that commitment is scaling up. 'In the coming decade, we are upsizing our commitment to S$1 billion to foster inclusion and provide essential needs to Asia's vulnerable,' Tan reveals. DBS aims to be the Best Bank for a Better World, anchored by its belief in doing well by doing good which includes creating impact beyond banking. PHOTO: DBS Innovating for the future of banking Through the past decade, DBS has become globally synonymous with digital transformation. The lender's reinvention from a traditional bank into a tech-enabled one has drawn global accolades and positioned it at the cutting edge of the future of finance. 'Our culture of innovation is anchored on our entrepreneurial mindset and agile ways of working,' says Tan. 'We have organised ourselves around customer journeys, where cross-functional teams are empowered to experiment and deliver at speed.' Although it is already at the forefront of innovation, DBS continues to break new tech frontiers. Artificial intelligence, generative AI, and decentralised finance are not future ambitions but are already being industrialised across the bank's operations. DBS Token Services, a blockchain-powered platform for institutional clients, is one example of smart contract automation and tokenised asset services. 'We're doubling down on industrialising the use of AI and Gen AI to amplify productivity and reduce toil for employees, while driving more hyperpersonalised and contextual solutions for our customers,' Tan explains. DBS sees innovation not just as a competitive advantage but as a means to improve lives. 'Ultimately, we are leveraging technology to make banking simpler, smarter and more inclusive,' says Tan. Anchored in Asia, adapting for growth Unlike its regional peers, DBS has a unique footprint across Asia's three key growth engines: Southeast Asia, South Asia and North Asia. The bank's six core markets – Singapore, Hong Kong, China, Taiwan, India and Indonesia – provide resilience and opportunity. 'Our diversified geographic footprint has been a source of strength,' says Tan. Adaptability, underpinned by a robust regional network, is also vital in today's volatile global economy. DBS has been working with its clients to reconfigure supply chains, explore alternative trade routes, and manage liquidity across jurisdictions. The lender also sees Asia's long-term fundamentals as unshaken. Trade outside the US – what DBS calls 'TOTUS' – accounts for nearly 90 per cent of global trade and around 85 per cent of GDP. Asia is leading the charge. 'Asia accounts for more than half of the world's middle-class households and manufacturing value add,' Tan notes. 'In 2024, the region contributed almost 60 per cent of global growth and accounted for more than half of global trade.' Intra-Asian integration, rising affluence and accelerating digital adoption continue to power the region. For DBS, this is fertile ground to deepen its presence, innovate locally and connect markets. Flying the Singapore flag high From its roots as a domestic development bank, DBS today operates on a truly global stage. The lender has been named the World's Best Bank eight times since 2018 by various international publications and has maintained its title as Asia's Safest Bank for 16 consecutive years. In 2024, its return on equity of 18 per cent placed it seventh among global peers – a position most banks from markets the size of Singapore's can only dream of. From left: DBS Chairman Peter Seah, Senior Minister Lee Hsien Loong and former CEO Piyush Gupta celebrating the bank's 50th anniversary in 2018. PHOTO: DBS Tan credits a mix of structural strengths and the bank's own transformation drive for these accolades. 'DBS has been a beneficiary of Singapore's status as a key global financial centre,' she says. 'We have also leveraged structural megatrends such as the region's rising middle class, burgeoning wealth creation, cross-border flows and infrastructure build-up.' As DBS continues to grow across the region and beyond, it remains anchored in the ethos that built it: putting customers first, embracing change, and doing what is right. 'We are honoured to have flown the Singapore flag high on the world stage all these years,' says Tan. 'Going forward, we stand by an unwavering belief that by being at the forefront of change, and guided by purpose, we can create a future that is not just successful but also sustainable and impactful.'
Business Times
5 hours ago
- Business Times
SG60: Singapore at 60 – a sustainability journey and the way forward
AS A small island with no natural resources, Singapore has, since independence, always embraced sustainability. Today, in the face of the global climate crisis, Singapore has both deepened and broadened that emphasis in a way that balances environmental stewardship, economic growth and social inclusion. Some major economies are, sadly, scaling back on their hard-fought climate commitments in the light of geopolitical and economic tensions. But, Singapore remains resolute in its climate ambition. Prime Minister Lawrence Wong gave this assurance in his Budget 2025 statement. Singapore's commitment to net zero by 2050 is more than a climate responsibility. It is a strategic national priority to safeguard our economy, energy security, public health and long-term resilience. But the road ahead is arduous. While Singapore has made significant progress, this SG60 milestone prompts a serious and timely reflection. What have we achieved, and what more must be done? A journey rooted in necessity and innovation Singapore's sustainability journey began from necessity. Due to its land constraints and high population density, the city's leadership and its people had to be resourceful and innovative from the outset to ensure that it could develop sustainably. Proof of this can be found in three areas. Water resilience – a shining example Singapore's ' Four National Taps' strategy – imported water, local catchment, NEWater (reclaimed) water, and desalinated water – is a shining example of foresight and innovation. A NEWSLETTER FOR YOU Friday, 12.30 pm ESG Insights An exclusive weekly report on the latest environmental, social and governance issues. Sign Up Sign Up What was once a vulnerability has become a strength, with weather-resilient NEWater and desalinated water playing an important role in enhancing the resilience of our water supply. Urban planning and green spaces Urban sustainability has long been a cornerstone of Singapore's development. The government's commitment to green urban planning has resulted in Singapore being known first as a Garden City and now as a 'City in a Garden'. And this is more than just a clever slogan. Over 40 per cent of Singapore's land is covered by greenery, and initiatives such as the Park Connector Network, rooftop gardens and vertical greening on buildings have redefined urban living. Energy efficiency and clean energy push Singapore has also focused on improving energy efficiency and diversifying our energy sources. While we are limited in renewable energy options, we have made significant investments in solar energy and are exploring regional power grids. For instance, we will import clean energy from our neighbours and are working closely with them on an integrated Asean Power Grid (APG). This supports Singapore's goal of importing up to 6 gigawatts (GW) of renewable energy – about 30 per cent of our power needs – by 2035. SG60 and beyond: the challenges ahead Despite these strides, Singapore's sustainability ambitions face several complex challenges. To reduce emissions to around 60 million tonnes of CO2 equivalent (MtCO2e) by 2030 and achieve net zero by 2050, Singapore's strategy focuses on four areas namely: catalysing business transformation and investing in low-carbon technologies; pursuing cooperation on international and regional carbon markets; focusing on renewable energy imports; and adopting low-carbon practices. Each of these focus areas has inherent challenges. But investing in low-carbon technologies and pursuing international collaborations on carbon markets and renewable energy call for even more courageous and transformative initiatives to succeed. Investing in low-carbon technologies Low-carbon technologies such as carbon capture, utilisation and storage are seen as critical enablers by many countries to achieve net zero. However, the nascency of such technologies, high production costs and infrastructure gaps make widespread reliance on them by the mid-century uncertain. The Singapore government is therefore in partnership with the private sector and research institutions, facilitating green research and development (R&D) focusing on climate tech, carbon capture, hydrogen, nuclear energy and safety, and sustainable materials, among others. Such green R&D initiatives include RIE (Research, Innovation and Enterprise) 2025 funding and support for relevant startups through EnterpriseSG and SGInnovate. For instance, PUB has announced Phase 2 of Equatic-1, an expansion of an ocean-based carbon dioxide removal (CDR) prototype in partnership with UCLA's Institute for Carbon Management (ICM) and Equatic, a private US startup. Dubbed 'the world's largest ocean-based CDR plant, when operational by 2025, this demonstration plant will remove up to 10 tonnes of CO2 per day and produce hydrogen, which is a clean-fuel by-product. NEA is also working with Keppel Seghers to assess the feasibility of installing carbon capture technology at its waste-to-energy plants. International collaborations Singapore's ambition to import up to 6 GW of renewable energy by 2035 from neighbouring countries under the APG is a bold step to decarbonise its power sector. However, it faces significant geopolitical, technical and economic challenges. First mooted more than two decades ago, progress has been slow due, among other reasons, to countries having different technical, legal and regulatory standards for grid operation as well as grid infrastructure gaps across nations. Nonetheless, some headway has been made over the past few years. For instance, last year Singapore doubled its clean electricity import from Laos from 100 MW to 200 MW. The government is also collaborating with international partners to develop both the voluntary and the regulated compliance carbon credits markets to allow companies to offset hard-to-abate carbon emissions while waiting for low-carbon technologies to mature. Carbon-taxable firms are allowed to use eligible credits to offset up to 5 per cent of their taxable emissions each year. They must purchase these credits from carbon projects hosted by countries that Singapore has bilateral agreements with. Currently, there are seven such countries including Bhutan and Peru. As carbon credits from the voluntary market are unregulated, there are concerns about the integrity and quality of such credits. To address these concerns, the government has recently released a draft guide for companies planning to voluntarily use carbon credits. It has also partnered the UK and Kenya to form an alliance called 'The Coalition to Grow Carbon Markets' to raise the standards of the unregulated voluntary carbon market globally and spur adoption. It is hoped that more nations will join the alliance. Transition to net zero – embracing opportunities While challenges abound, the opportunities are equally significant. The government is playing its part by putting in place the necessary regulatory frameworks and policies, as well as initiatives under the Singapore Green Plan 2030 such as carbon tax, investments in green public transport and innovations in the green finance sector. For businesses, the sustainability transition is no longer just a corporate social responsibility activity. It is an existential imperative. Companies that fail to adapt risk being left behind as more investors, regulators and consumers demand environmental, social and governance (ESG) accountability and eschew greenwashing. SG60 can be a launch pad for bold, visionary initiatives that bring us to SG100 and beyond, where Singapore remains green, resilient and thriving. Our commitment to decarbonise opens up a range of green growth prospects across multiple sectors. Singapore can position itself as a regional leader in the green economy, creating exciting new economic and job opportunities. Let me illustrate two such opportunities: Green finance and carbon services Singapore has been actively building itself into a regional hub for green finance, ESG investment, and carbon services and trading. The growing carbon market is expected to drive demand for goods and services related to low-carbon project development, project financing, trading, consultancy and measurement, reporting and verification. New job roles that have been created include sustainability finance relationship manager, climate risk analyst, carbon project developer and green finance engineer. Skills in many disciplines, including engineering and AI, are needed. Singapore now hosts more than 150 carbon services and trading firms, double that in 2021, and is becoming the largest such hub in South-east Asia. Market-ready initiatives such as Climate Impact X (CIX) and Air Carbon Exchange (ACX) are actively operating in the Asia-Pacific carbon credit trading landscape. The industry forecasts 4,000 to 5,000 new sustainable finance jobs in the next decade, and more than 50,000 financial professionals to receive green skills augmentation. The Economic Development Board estimates up to US$5.6 billion of value-add by 2050 from carbon services, signalling its long-term economic impact. Clean energy Singapore's regional renewables import strategy has progressively moved from pilot to large-scale development. The initiative achieved the first multilateral trade of 100 MW hydropower from Lao PDR via the Lao-Thailand-Malaysia-Singapore Power Integration Project, which has since doubled to 200MW. The Republic has also made progress on agreements to import green energy from our neighbours, including Indonesia and Malaysia. Hence, while challenges such as legal and regulatory complexities as well as the need for massive investment remain, the initiative is well under way and will generate many new jobs and economic opportunities for the participating countries. Then SM Teo Chee Hean noted at the Ecosperity Week on May 6 that with continued investment and cross-border cooperation, the Asean Power Grid could lift regional gross domestic product by up to 4.6 per cent and create thousands of green jobs. A pivotal juncture At 60, Singapore has proven that with wit and gumption, size need not be a barrier to success. SG60 is not the culmination of a journey. It is the gateway to a new era – one where Singapore can shine, not just as a smart city, but as a vibrant, sustainable nation. This requires a whole-of-nation approach: The government as the enabler and regulator; businesses as the engine of innovation and transformation; individuals as the conscience and catalyst. All of us, government, businesses and individuals, must work together and remain resolute in our ambition to ensure that Singapore remains a thriving and sustainable nation, come SG100 and beyond! Dr Amy Khor chairs the judging panel of the Sustainability Impact Awards jointly organised by The Business Times and UOB. She was previously senior minister of state for the Ministry of Sustainability and the Environment, as well as Ministry of Transport
