Latest news with #SingaporeGreenPlan2030
Korea Herald
2 days ago
- Business
- Korea Herald
SMU issues its inaugural Sustainability Bond, raising S$150 million to advance environmental and social initiatives
SINGAPORE, July 28, 2025 /PRNewswire/ - - Singapore Management University (SMU) today announced that it has completed the issuance of a S$150 million Sustainability Bond. The proceeds of the Bond are earmarked for financing and refinancing green and social projects that deliver clear environmental and social benefits, as guided by SMU's newly established Sustainable Financing Framework. The Sustainability Bond, the first such bond by an Autonomous University (AU) in Singapore, was issued on 28 July 2025 at a coupon rate of 2.022% and will mature on 28 July 2032. The Sole Lead Manager and Bookrunner for the bond issuance was Oversea-Chinese Banking Corporation Limited (OCBC). SMU President, Professor Lily Kong, said, "This inaugural Sustainability Bond is more than just a financial instrument — it reflects our belief that universities must play a leading role in building a more sustainable and inclusive future. We've been guided by our Sustainability Blueprint since 2022 and are proud to contribute to the priorities set out in the Singapore Green Plan 2030. As a university, we take seriously our role in shaping future-ready graduates who are not only intellectually agile, but also attuned to the pressing challenges of our time. By embedding sustainability in our operations and investments, we hope to lead with purpose and conviction." "Launching this bond in our 25 th anniversary year feels especially meaningful — it signals our intent to grow with purpose, and to leave a positive, lasting impact on the communities we serve," she added. SMU Sustainable Finance Framework In June 2025, SMU established a holistic and comprehensive Sustainable Financing Framework which aligns SMU's financial practice with its sustainability goals (outlined in the SMU Sustainability Blueprint) and embodies SMU's deep commitment to sustainability and corporate social responsibility. The Framework outlines the criteria and guidelines for SMU to allocate and manage the proceeds raised from sustainable finance transactions. Developed in collaboration with its sole sustainability advisor, OCBC, the Framework provides the foundation for SMU to engage in sustainable finance transactions such as green, social and sustainability bonds and loans. It guides SMU's issuance of sustainable finance debt instruments to finance or refinance projects and assets that deliver measurable environmental and/ or social benefits. These include green buildings, energy efficiency upgrades, green infocommunications technology infrastructure, sustainable water and waste management, as well as programmes that promote inclusive education, knowledge sharing, and mental health and wellbeing. Mr Lim Boon Wee, SMU's Senior Vice President, Administration, said, "This bond issuance is a strategic milestone for SMU as we align our financial strategy with our sustainability goals, and channel capital to where it matters most. It enables us to finance infrastructure and initiatives that enhance environmental performance and social impact, while ensuring transparency and accountability to our stakeholders." The Framework received a Second Party Opinion from ratings agency, Moody's Investors Service (Moody's), affirming its alignment with internationally recognised standards and its significant contribution to sustainable outcomes. Moody's further assessed the Framework as having a significant contribution to sustainability, giving it an overall Sustainability Quality Score of SQS2 – Very Good. SMU also maintains a Aaa rating by Moody's, the highest possible rating in assessing creditworthiness, reflecting the University's robust institutional framework and healthy operating performance. First Sustainability Bond issuance by a Singapore university SMU's Sustainability Bond is the first such bond issued by an AU in Singapore, and is differentiated in the scope of impact. Apart from green initiatives with environmental benefits, SMU is committing a portion of the proceeds raised to fund social programmes that promote inclusive education benefitting its students from low-income families. This differs from Green Bonds (focusing solely on projects with environmental benefits) and Sustainability-Linked Bonds (which are tied to predefined sustainability performance targets only) previously issued by other universities in Singapore. Ms Elaine Lam, Head of Global Corporate Banking, OCBC, said, "With our strong track record in guiding clients through their green transition with strategic advisory and targeted financing solutions, we are excited to strengthen our long-standing partnership with SMU by supporting its first Sustainability Bond issuance covering both environmental projects as well as social programmes that promote inclusive education. A first by an autonomous university in Singapore, this bond issuance speaks to SMU's leadership in integrating sustainability into its core mission, potentially inspiring its students to become future leaders who advocate for both environmental stewardship and social equity." - End -
Malaysian Reserve
2 days ago
- Business
- Malaysian Reserve
SMU issues its inaugural Sustainability Bond, raising S$150 million to advance environmental and social initiatives
SINGAPORE, July 28, 2025 /PRNewswire/ –– Singapore Management University (SMU) today announced that it has completed the issuance of a S$150 million Sustainability Bond. The proceeds of the Bond are earmarked for financing and refinancing green and social projects that deliver clear environmental and social benefits, as guided by SMU's newly established Sustainable Financing Framework. The Sustainability Bond, the first such bond by an Autonomous University (AU) in Singapore, was issued on 28 July 2025 at a coupon rate of 2.022% and will mature on 28 July 2032. The Sole Lead Manager and Bookrunner for the bond issuance was Oversea-Chinese Banking Corporation Limited (OCBC). SMU President, Professor Lily Kong, said, 'This inaugural Sustainability Bond is more than just a financial instrument — it reflects our belief that universities must play a leading role in building a more sustainable and inclusive future. We've been guided by our Sustainability Blueprint since 2022 and are proud to contribute to the priorities set out in the Singapore Green Plan 2030. As a university, we take seriously our role in shaping future-ready graduates who are not only intellectually agile, but also attuned to the pressing challenges of our time. By embedding sustainability in our operations and investments, we hope to lead with purpose and conviction.' 'Launching this bond in our 25th anniversary year feels especially meaningful — it signals our intent to grow with purpose, and to leave a positive, lasting impact on the communities we serve,' she added. SMU Sustainable Finance Framework In June 2025, SMU established a holistic and comprehensive Sustainable Financing Framework which aligns SMU's financial practice with its sustainability goals (outlined in the SMU Sustainability Blueprint) and embodies SMU's deep commitment to sustainability and corporate social responsibility. The Framework outlines the criteria and guidelines for SMU to allocate and manage the proceeds raised from sustainable finance transactions. Developed in collaboration with its sole sustainability advisor, OCBC, the Framework provides the foundation for SMU to engage in sustainable finance transactions such as green, social and sustainability bonds and loans. It guides SMU's issuance of sustainable finance debt instruments to finance or refinance projects and assets that deliver measurable environmental and/ or social benefits. These include green buildings, energy efficiency upgrades, green infocommunications technology infrastructure, sustainable water and waste management, as well as programmes that promote inclusive education, knowledge sharing, and mental health and wellbeing. Mr Lim Boon Wee, SMU's Senior Vice President, Administration, said, 'This bond issuance is a strategic milestone for SMU as we align our financial strategy with our sustainability goals, and channel capital to where it matters most. It enables us to finance infrastructure and initiatives that enhance environmental performance and social impact, while ensuring transparency and accountability to our stakeholders.' The Framework received a Second Party Opinion from ratings agency, Moody's Investors Service (Moody's), affirming its alignment with internationally recognised standards and its significant contribution to sustainable outcomes. Moody's further assessed the Framework as having a significant contribution to sustainability, giving it an overall Sustainability Quality Score of SQS2 – Very Good. SMU also maintains a Aaa rating by Moody's, the highest possible rating in assessing creditworthiness, reflecting the University's robust institutional framework and healthy operating performance. First Sustainability Bond issuance by a Singapore university SMU's Sustainability Bond is the first such bond issued by an AU in Singapore, and is differentiated in the scope of impact. Apart from green initiatives with environmental benefits, SMU is committing a portion of the proceeds raised to fund social programmes that promote inclusive education benefitting its students from low-income families. This differs from Green Bonds (focusing solely on projects with environmental benefits) and Sustainability-Linked Bonds (which are tied to predefined sustainability performance targets only) previously issued by other universities in Singapore. Ms Elaine Lam, Head of Global Corporate Banking, OCBC, said, 'With our strong track record in guiding clients through their green transition with strategic advisory and targeted financing solutions, we are excited to strengthen our long-standing partnership with SMU by supporting its first Sustainability Bond issuance covering both environmental projects as well as social programmes that promote inclusive education. A first by an autonomous university in Singapore, this bond issuance speaks to SMU's leadership in integrating sustainability into its core mission, potentially inspiring its students to become future leaders who advocate for both environmental stewardship and social equity.' Highlights of SMU's sustainability-related achievements Ranked 18th globally in the Environmental Sustainability lens, Environmental Impact category for the QS World University Rankings: Sustainability 2025 Winner, Sustainability Institution of the Year, 2024 International Green Gown Awards Won the fifth consecutive Silver Ribbon Mental Health Award in as many years since the awards were inaugurated by Silver Ribbon (Singapore) in 2020 Entire campus awarded the Green Mark Platinum certification, with the first Green Mark Platinum Zero Energy building in the city centre First university in Singapore to introduce sustainability literacy and community service as graduation requirements – End –
AsiaOne
25-06-2025
- AsiaOne
Advanced navigational system, better rescue tools: SCDF unveils next-gen marine rescue vessel, Singapore News
The Singapore Civil Defence Force (SCDF) has officially unveiled their new second-generation Marine Rescue Vessel (MRV2G) named Blue Dolphin on Wednesday (June 25). Blue Dolphin operates from West Coast Marine Fire Station, strengthening SCDF's coverage and readiness on the western seaboard, said the agency. Built for major maritime emergencies, this vessel is equipped with modern command systems, chemical detection sensors, improved rescue tools, and green technology like solar panels and biofuel engines. Minister for Law and Second Minster for Home Affairs Edwin Tong was at the commissioning ceremony for this vessel at Republic of Singapore Yacht Club on Wednesday. 'Blue Dolphin represents the culmination of months of planning, of designing, careful construction, and testing. Every bolt, every weld, every system onboard carries the dedication and bears the hallmark of expertise of a highly capable team," he said. This vessel is a joint development between SCDF, Penguin Shipyard International, HTX (Home Team Science and Technology Agency), and Defence Science and Technology Agency (DSTA). Combating crew fatigue Blue Dolphin has an Integrated Command Centre with the Bridge, an Advanced Navigational System which includes a station-keeping feature to reduce crew fatigue, and an advanced Launch and Recovery System for quick deployment of its firefighting-equipped RHIB in shallow waters. In support of the Singapore Green Plan 2030, Blue Dolphin will also be equipped with a solar charging system for its support equipment and biofuel-compatible engines, enhancing the vessel's overall sustainability. SCDF said that the Marine Division will operate a total of ten vessels by year 2030, and it will be supported by the new Marine Division Headquarters at Brani, scheduled to be operational by early 2026. In addition, a new Marine Fire Post at Punggol's Northshore Crescent to improve maritime coverage will be ready by 2028. Expansion of maritime sector Summing up, Tong pointed out that SCDF Marine Division's capability is "critical amid a rapidly evolving maritime landscape". The Singapore's cruise industry, for example, is expanding with more cruise ships calling port in Singapore. This includes the Disney Cruise Line which will launch its maiden voyage here at the end of 2025, meaning larger vessels, with more passengers, will appear in Singapore waters. In addition, the Tuas Mega Port's first phase of operations has started and it will be one of the largest container ports in the world by 2040, which will make Singapore one of the busiest waterways globally. The marine industry, he added, is also shifting towards greener operations and the use of alternative fuels such as LNG (liquefied natural gas), ammonia and methanol will bring new challenges for maritime response. He said: "So in order to meet these challenges, SCDF is committed to strengthening its capabilities to continue making sure we actively, effectively safeguard our waters. The Blue Dolphin represents the first step in this next phase of development." [[nid:719385]]
Business Times
04-06-2025
- Business
- Business Times
Singapore's climate strategy stands firm amid global setbacks on emissions
[SINGAPORE] As major economies scale back climate commitments and global momentum stalls, Singapore stands out for its steadfast approach to climate action. Recent policy reversals in countries like the United States – where significant climate safeguards for air, water, wildlife, and toxic chemicals have been dismantled – have cast doubt on the world's collective resolve. Several major signatories to the Paris Climate Agreement also missed the Feb 10, 2025, deadline to submit updated carbon emission targets to the United Nations (UN), signalling a worrying slowdown in global efforts to cut emissions. In contrast, Singapore remains resolute in pursuing its climate ambitions. For one thing, it was among the few nations to meet the UN deadline for new climate targets. Prime Minister Lawrence Wong also reaffirmed Singapore's commitment in the latest Budget statement, reiterating that the government 'remains resolute' in its decarbonisation efforts, despite slowing momentum on the issue globally. During Budget 2025, he also introduced a S$5 billion injection into the Future Energy Fund to secure clean power, alongside incentives to accelerate the adoption of zero-emissions heavy vehicles like electric goods vehicles and buses. 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 Mitigating risks Singapore's commitment to decarbonisation is not only a far-sighted course of action, but also an act of great wisdom. As climate change accelerates and extreme weather events become more common, governments that delay taking action now will face a far more challenging transition down the line. When disasters like wildfires, floods, and heatwaves grow too frequent and severe to overlook, governments will be compelled to take drastic actions – but at that point, it may already be too late to prevent the catastrophic consequences. By addressing climate risks today, Singapore is not only preparing to handle future challenges proactively, but also positioning itself to capitalise on new opportunities in the burgeoning global awareness and seismic shift towards a low-carbon economy. The city-state aims to cut emissions to between 45 million and 50 million tonnes of carbon dioxide equivalent by 2035. This is on top of an ambitious plan to achieve net-zero emissions by 2050, through the Singapore Green Plan 2030. This national strategy is anchored by five key pillars: city in nature; energy reset; sustainable living; green economy; and resilient future. One focus of the Singapore Green Plan is about enhancing the city-state's liveability. The government is expanding the rail and cycling networks, retrofitting buildings to be greener, and creating more parks and green spaces. Clear targets have also been set to cut landfill waste and reduce water usage. These efforts not only advance the goal of creating sustainable, eco-friendly homes, but also fulfil residents' desires for a cleaner, healthier living environment. Another key priority is transitioning to sustainable energy sources. Singapore aims to raise its solar energy deployment to 2 gigawatt-peak by 2030, which would meet 3 per cent of the city-state's projected energy needs. It also aims to slash emissions in the transport sector, by spurring the transition towards electric or low-emission vehicles across air, land, and sea. Achieving these goals requires the right skilled talent to drive scientific innovation and bring new inventions to market. Hence, the energy transition will create new job opportunities across various sectors including research, analytics, and finance. Globally, the International Energy Agency projects the creation of 10.3 million new jobs by 2030 as the world shifts to cleaner energy. In Singapore, the green economy is a key growth sector, with the national skills agency SkillsFuture identifying strong demand for highly adaptable and in-demand skills. Aside from talent, transitioning to a low-carbon economy will also demand substantial investments. This has led to the growth of sustainable finance, which is channelling significant new capital into the economy by supporting investments in infrastructure, expanding the green bond market, and fostering the development of carbon trading hubs. A passing fad? Some have questioned whether shifts in global climate policy and ongoing trade uncertainties might mean that sustainable finance is losing its relevance. However, this is far from the case. While recent changes in trade policies may complicate supply chains for technologies like electric vehicles and solar panels, these challenges are also prompting governments to strengthen domestic capabilities and encouraging companies to localise their supply chains. Singapore is not the only country advancing these efforts through a national climate policy platform. The European Union, for instance, aims to be carbon-neutral by 2050 through a set of policy initiatives put forth under the European Green Deal. Further, even if the tempo of climate policy action may appear to be abating, some structural trends are here to stay. Rapid urbanisation and population growth are set to double electricity demand globally over the next two decades. Meeting this demand will require increased energy supplies, particularly from renewables. With solar and wind now the most cost-effective sources, global investments in renewables is expected to surge, making them the preferred options for new energy supplies. At the same time, advancements in artificial intelligence will drive demand for energy-efficient data centres to support these energy-intensive technologies. Separately, the slowdown in global mitigation efforts has heightened the risk of climate-related damage and loss. In response, investors are seeing growing opportunities in climate adaptation measures. According to a report by Singapore's sovereign wealth fund GIC, global annual revenues from various adaptation solution sectors could rise from US$1 trillion today to US$4 trillion by 2050. The associated investment opportunities are projected to expand from US$2 trillion now to US$9 trillion by 2050, with US$3 trillion of this growth directly linked to global warming. These projections are based on the assumption that global temperatures will increase by 2.7 degrees Celsius by the end of the century. A separate report by Temasek, which focuses on private equity opportunities, estimates that global annual demand for adaptation financing could reach between US$500 billion and US$1.3 trillion from 2025 to 2030. This is significantly higher than current adaptation financing levels, which average about US$76 billion per year and are primarily sourced from public funds. Notwithstanding the observation that some governments are slowing down their efforts to promote climate protection, there remains a growing pivotal emphasis on environmental protection and sustainability. The shift toward a sustainable future remains inevitable. In time, Singapore's current investments in a greener future will yield qualitative dividends for its people, to be able to reside in a salubrious climate.
The Sun
19-05-2025
- Business
- The Sun
Singapore Building Owners Save $1.2 Million in Energy Costs Through Academic-Industry Partnership between ACwise and Ngee Ann Polytechnic's CfES
WOODLANDS, SINGAPORE - Media OutReach Newswire - 19 May 2025 - Buildings in Singapore account for over 20% of the nation's carbon emissions, making energy efficiency a top priority under the Singapore Green Plan 2030. To drive reductions and meet net-zero targets, the carbon tax jumped from S$5/tCO2e to S$25/tCO2e in 2024 and will hit S$45/tCO2e by 2026, adding an estimated S$52,000 in monthly costs for the average commercial building. A pioneering collaboration between ACwise and Ngee Ann Polytechnic's Centre for Environmental Sustainability (CfES) is demonstrating how certified energy-saving technologies can cut costs while reducing scope 2 and 3 emissions, offering a practical path toward sustainable operations. Through this partnership, building owners have collectively saved $1.2 million in energy costs in the last 6 months by integrating ACwise's NanoRefrigerant into HVAC systems. This innovative solution improves efficiency, reduces emissions, and extends equipment lifespan, offering a practical, cost-effective path to greener buildings Real-world results highlight the impact of this collaboration. •Seo Eng Joo Food Hub, which manages several large cold storage facilities across Southeast Asia, was able to reduce its HVAC-R energy consumption by 19%. •Song Fish, a leading frozen seafood and poultry supplier, achieved a 12.3% reduction in HVAC energy consumption through a recent trial. At the core of this success is a unique academic-industry collaboration. By combining CfES's rigorous research with ACwise's industry expertise, the initiative accelerates the adoption of proven, high-performance solutions. The Singapore Green Building Council (SGBC) certification further reinforces the credibility of these technologies, ensuring they meet stringent sustainability standards. 'Our collaboration goes beyond technology,' explains Tommy Chan, Founder and CEO of ACwise. 'We're creating a replicable framework that demonstrates how academic insights can drive meaningful industry transformation. Each percentage point of energy saved represents not just financial benefit, but a step towards Singapore's net zero target by 2050.' 'CfES is committed to bridging innovative research with real-world applications, and our collaboration with ACwise exemplifies this approach', says Jason Tang, Chief Sustainability Officer, Ngee Ann Polytechnic and Director, CfES. 'By rigorously assessing the performance of NanoRefrigerant in a VRF air-conditioning system, the results have demonstrated measurable efficiency gains, reinforcing the importance of evidence-based solutions in advancing sustainability within the built environment.' The centre has played a key role in translating and developing technologies and solutions into practical innovations for the industry. Currently, CfES has successfully completed over 500 consultancy and R&D projects, filed more than 30 patents and know-hows, and licensed 1 in 3 of their intellectual properties. The initiative's impact extends beyond immediate savings. Building owners are not just cutting costs; they are channelling savings into sustainability upgrades like solar panels and smart energy systems. These investments go beyond individual buildings, strengthening Singapore's green ecosystem and driving continuous improvements in energy efficiency. As the nation accelerates its Green Plan 2030 efforts, this partnership serves as a blueprint for integrating certified solutions into existing infrastructure. With clear financial and environmental gains, building owners have a unique opportunity to lead Singapore's transition toward a more sustainable, energy-efficient future. Join us on May 23rd to explore how collaborative innovation is transforming Singapore's green building ecosystem and shaping the future of sustainable urban development.
