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Why Upgrade Facilities for a Greener Singapore

By April 15, 2025No Comments
Upgrade Facilities Green Sngapore

Upgrade Your Facilities

Singapore’s Green Plan 2030 is shaping the future of businesses to become more eco-friendly by focusing on sustainability, saving energy, and cutting down on carbon emissions. Companies that start upgrading their facilities now can save money, work more efficiently, and stand out in the market, while those that wait might face fines and lose business opportunities.

Why Now?

01

Staying on the Right Side of Regulations

02

Saving Money & Energy

03

Competitive Edge & Brand Reputation

04

Access to Green Financing & Incentives

05

Future-Proofing Against Market Shifts

01. Stay on the Right Side of Regulations

Rising Carbon Taxes

Greenhouse Gas Emissions
The carbon tax will increase from S$5 per tonne to S$25 per tonne by 2024, and $45 per tonne in 2026.   The rate may even up to S$80 per tonne by 2030. If your company doesn’t manage its carbon output, facilities will face higher operational costs.

Mandatory Sustainability Reporting

Reporting
From 2025, companies listed on the SGX must share details about their climate impact. By 2027, large private companies will also need to submit these reports.

Green Building Standards

Facility
The Building and Construction Authority (BCA) now requires developers and facility managers to invest in energy-efficient systems to meet an updated minimum requirement for a building’s environmental sustainability.  

Avoid Fines & Legal Hassles

Fines
Singapore is tightening its regulation on minimum environmental sustainability reporting. This means companies must meet new requirements and submit accurate data or risk fines and penalties.  

Actionable Steps → 

Start with an energy audit to understand your company’s carbon footprint and energy consumption. 

02. Saving Money & Energy

Lower Energy Bills

EMONS
Businesses using Energy Monitoring Systems (EMONS) have a top-level overview of energy consumption, and may set targets or limits on areas to reduce energy consumption & save on utility bills

 

Mandatory Sustainability Reporting

Smart Lighting Icon
Upgrading to LED lighting, smart HVAC systems, and solar panels optimizes energy efficiency and contribute directly to sustainability goals by addressing Scope 1 and Scope 2 emissions.

Avoid Rising Energy Costs

LED Energy Savings
As energy prices rise and carbon taxes increase, companies that fail to upgrade will pay more for utilities and emissions penalties.  Energy prices for non-residential buildings are already up 0.1% (SGD $0.04) per kW since the previous quarter. 

Actionable Steps → 

Getting started with tools like Energy Monitoring Systems (EMONS) to track energy use.  From here, discover how to save energy and invest in smart lighting or HVAC solutions to reduce energy consumption. 

03.Competitive Edge & Brand Reputation

Meeting Stakeholder Expectations

Large MNCs and government agencies now require their suppliers to follow sustainability standards, which affect their Scope 3 Emissions reporting.  Companies that don’t comply may risk losing contracts.

Customer & Brand Loyalty

Young consumers prefer eco-conscious brands, and businesses that showcase sustainability commitments build stronger relationships with target audiences.

Global Market Access

World Sustainability
With new carbon border taxes in regions like the EU, companies that are green-certified will have an easier time exporting their products.

Actionable Steps → 

Work towards obtaining green certifications (BCA Green Mark, ISO 14001, Eco-Office Label) to stand out in the market.

04. Access to Green Financing & Incentives

Green Loans & Sustainability Financing

Green Finance
Banks like DBS, OCBC, and UOB offer lower interest rates for businesses adopting energy-efficient technologies.

Tax Benefits & Rebates

Tax Benefit Icon
Businesses implementing renewable energy or energy-efficient infrastructure can qualify for tax deductions and rebates.

Government Grants & Incentive

Government Grant
Companies can apply for support from:

Actionable Steps → 

Apply for government grants and green financing options to reduce upfront costs for sustainability upgrades. 

05. Future-Proofing Against Market Shifts

Meeting Global Emission Targets

Net Zero
Many global companies are aiming for net-zero emissions by 2050, which is in-line with Singapore’s Green Plan 2030.  

Workforce & Talent Attraction

People Icon
Younger employees prefer to work for environmentally responsible companies. A strong sustainability strategy enhances talent recruitment and retention.

Resilience Against Climate Risks

Natural Disaster Icon
Climate risk and resource scarcity will increase operational costs for unprepared businesses. Sustainable companies are better positioned to adapt and be more resilient against future challenges.

Actionable Steps → 

Develop a long-term sustainability plan to keep your business ahead of future regulations and market shifts.

Final Thoughts

Upgrading for the Singapore Green Plan 2030 is no longer optional, it’s a smart business move. Early adopters will save money, enhance their reputation, attract investors, and beat competitors in the market.

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