Core Projects and Initial Portfolio
Climate change as a result of greenhouse gas (GHG) emissions is one of the greatest challenges of the 21st century. The Intergovernmental Panel on Climate Change (IPCC) released its special report on 8 Oct 2018, “Global Warming of 1.5°C” in which it called upon all nations to make strong efforts to cap global temperature rise to 1.5°C above pre-industrial levels to avoid catastrophic climate change. Singapore’s Intended Nationally Determined Contributions (INDC’s) under the Paris Agreement is to reduce its emission intensity by 36% from 2005 levels by 2020 and stabilize its emissions with the aim of peaking around 2030. Under the current business-as-usual growth trajectory, temperature in Singapore could rise up to 4°C. Thus, there is an urgent need for us to develop more pathways to reduce our common emissions and meet growing energy demand in a sustainable manner.
In Oct 2019, the SgEC had awarded 6 core projects in the broad area of energy, specifically on the topic of decarbonization for this tranche.These projects are expected to begin in Jan 2020 and be completed by 2021. Findings from these projects will help to catalyze a broad range of technologies to capture existing carbon dioxide from industrial applications and sequester it or cost effectively convert it to useful products. This research has the potential to reduce carbon emissions in line with Singapore’s national goal.