Energy & Environment in Singapore
Due to its large population relative to its limited amount of land service and the lack of natural resources, Singapore has always needed to be innovative to find solutions for reducing its dependency on fossil fuels. Therefore, the energy sector is a very important sector for the Singaporean economy; it accounts for 5% of Singapore’s Gross Domestic Product. Energy is also intertwined with the Dutch top sectors. For instance, within the maritime sector; at this moment, Singapore is developing its capacity to bunker Liquefied Natural Gas (LNG), as it is a more sustainable fuel. A*STAR is doing research in creating high tech solutions to make the energy use of buildings within the city state greener. Within the high tech sector, further developments take place in the form of new plantings and innovations in smart grids as well as gas and energy storage technologies. Moreover, Singapore is the oil and gas hub for the region. There is a focus on developing innovation for logistics in order to enhance competitiveness of the hub. Singapore is taking leadership within the region in R&D in the energy sector. It sees opportunities within the clean energy sector, since this market will be growing globally.
Singapore embraces the ‘sharing economy’ business model. A Dutch entrepreneur started the company CarPal that is meant to transform the way local goods move around in cities. They are building a platform and the technology that allows any consumer, small business owner or corporate to plug-and-play a supply chain solution on-demand, allowing them to reduce costs and increase flexibility.