Schneider Electric and Singapore Green Building Council Release Joint Report Unveiling Critical Challenges and Recommendations on Green Building Adoption in Singapore
- Findings reveal a lack of deep understanding of green buildings among business leaders
- “Cost and ROI” seen as the biggest barrier to increase use of green buildings in next one to two years, even as investments are set to grow over the same time period
Singapore, 13 April, 2023 - Schneider Electric, the global leader in the digital transformation of energy management and automation, and the Singapore Green Building Council (SGBC) today launched a joint report highlighting the critical challenges that need to be tackled as well as key recommendations to accelerate green building adoption in Singapore.
The report titled “Going Green from the Inside Out: Accelerating Green Building Adoption in Singapore”, presents and analyses the findings of a survey by Schneider Electric involving 500 business leaders across MNCs and SMEs in Singapore, as well as findings from a qualitative study conducted with members of the SGBC on the level of awareness, preparedness, understanding and views of business leaders on green buildings in Singapore. Field work was conducted between October 2022 and February 2023.
Most business leaders in Singapore have a general understanding of green buildings only
The report unveils that most business leaders (51%) in Singapore have a general understanding of green buildings, while only four in 10 (38%) have a comprehensive understanding. These findings highlight the crucial need for more business leaders to develop a deeper knowledge of green buildings so as to spur greater adoption and progress.
Low awareness may be holding back adoption, but momentum is expected to pick up
In line with the lack of understanding of green buildings, low awareness over its benefits may be holding back greater adoption of green buildings, as only 12% of respondents indicate that all their operations already utilise green buildings. Nevertheless, adoption of green buildings is expected to gain momentum, as over half (52%) say their organisation plans to increase investment in using green buildings in the next one to two years.
Sustainability goals and energy efficiency are the top drivers for adoption
In terms of the drivers for adoption, the report finds that “sustainability and ESG considerations” (41%), as well as “energy efficiency” (40%) are the top two factors for organisations looking to increase the use of green buildings.
“Cost and ROI” seen as the biggest barrier to increasing access to green buildings
As for barriers, 61% of survey respondents indicate that “cost and return on investment (ROI)” is the biggest barrier when looking to increase the use of green buildings in the next one to two years. This highlights the opportunity to convince more organisations to tap on the various support schemes available and reap its benefits.
Most business leaders are highly supportive of Singapore’s Green Plan 2030 targets
Business leaders are generally still highly supportive of Singapore’s green building targets, with 95% agreeing that 80% of Singapore’s buildings should be ‘green’ by 2030, and 98% agreeing that 80% of Singapore’s buildings should be ‘Super Low Energy’ from 2030. Of those who indicated support for the latter goal, 56% believe the target should be lower.
Recommendations
In light of these findings, Schneider Electric and SGBC have listed five recommendations in the report to accelerate the adoption of green buildings in Singapore:
- Stakeholders, particularly developers and landlords, can take the lead to advance the green agenda: Within the private sector, developers and building owners especially play a critical role in ensuring that green features are accounted for from the onset in upcoming developments or by retrofitting existing buildings.
- Promote greater awareness to leverage technology and tap on support schemes: To enable scalability of green buildings, upfront costs and doubts over subsequent potential cost savings reaped from green solutions must be tackled.
- Grow pool and pipeline of green building professionals: Institutes of higher learning can work closely with the industry to groom the next generation of green building professionals.
- Enabling greater access to green finance: Green financing must become more mainstream and accelerated to drive sustainable financing for the sector.
- Forging impactful partnerships and co-innovating solutions: Stakeholders’ strengths can be leveraged to co-develop new innovative solutions and industry best practices.
“As we approach key national sustainability milestones, it is imperative that we continue accelerating efforts to reduce emissions and advance towards a net-zero future,” says Lee Ang Seng, President of the SGBC. “While it is heartening to see companies taking action, more can be done to improve the awareness and update of green building solutions towards a low-carbon future. We are heartened to work with SGBC Founding Member Schneider Electric on this meaningful report which will definitely help the industry to identify common challenges, outline actionable steps, and leverage collective effort to decarbonise the built environment.”
“With Singapore’s buildings accounting for over 20% of national carbon emissions, the case for greening its infrastructure has never been greater, and developers, building owners and business leaders play a critical role in helping to drive this agenda on sustainable development” says Yoon Young Kim, Cluster President, Schneider Electric Singapore, Malaysia, Brunei. “At Schneider Electric, we are deeply committed to this cause, and are constantly growing our capacity to help partners strategise, digitise and decarbonise. We are confident that by taking this first step towards understanding the opportunities and challenges of going green, we can better help companies navigate this complex but critical task and sustain stronger results in their decarbonisation journeys.”
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About the Singapore Green Building Council
The Singapore Green Building Council (SGBC) enables sustainability across the building and construction value chain, championing capability development and innovative solutions that support industry transformation through our Membership, Certification and outreach programmes. The repository of proven green building solutions helps to enable green procurement in the industry, profiling leading and innovative solutions that go towards building a greener, healthier built environment. Together with a growing pool of industry-recognised Green Mark Accredited Professionals, SGBC addresses every touchpoint of the green building ecosystem. For more information, please visit www.sgbc.sg
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Yoon Young Kim
Cluster President, Singapore and BruneiYoon Young Kim is Cluster President for Singapore and Brunei at Schneider Electric. In his current role at Schneider Electric, Kim seeks to grow company regional presence as the leader of digital and sustainable transformation in energy management and automation. He spearheads efforts to drive more digital solutions, with focus on high-growth potential areas such as Data Centers, Buildings, Infrastructure and Manufacturing. He is also leading efforts in helping customers within these regional markets to operate more sustainably. Kim was most previously Cluster Country President for Vietnam, Cambodia and Myanmar for Schneider Electric – a role he held for over four years from 2016 to 2020. Kim brings with him over two decades of global experience in leading teams across Africa, Asia, Europe, the Middle East, North America, South America, and Russia. This includes experience in the energy management and lighting industries, as well as a strong background in sales and marketing. He boasts a commendable track record of delivering commercial success across emerging markets in B2B, B2C, and B2G fields. As a strategic leader who is people-oriented, Kim is committed to inspiring teams to deliver consistent results in implementing impactful business initiatives and empowering all to make the most of their energy and resources. Beyond his role as Cluster President, Kim holds several board and advisory positions. These include serving as a Board Member of the French Chamber of Commerce in Singapore; a Board Member for UN GCNS (Global Compact Network Singapore); a Board Member at NaviX Solutions by Schneider Electric; and a Global DEI Board Member at Schneider Electric. In addition, Kim acts as a Sustainability Advisory Member to the Board at United Overseas Bank (UOB), one of the world’s leading banks headquartered in Singapore, with branches and offices across 19 countries in the Asia Pacific, Europe, and North America. Kim is fluent in four languages: English, Korean, Portuguese, and Spanish. He graduated from Pontifícia Universidade Católica de São Paulo, with a Bachelor of Business Administration. He also holds multiple postgraduate degrees including a Master of Business Administration from WHU – Otto Beisheim School of Management, Master’s degree at FGV – Fundacao Getulio Vargas in Finance and Post-degree in Marketing from ESPM Escola Superior de Propaganda e Marketing. Kim was born in Korea, raised in Brazil, and now Singaporean.Read more
Attached files
[Infographic] Going Green from the Inside Out - Accelerating Green Building Adoption in Singapore.pdf
PDF, document12/04/2023View asset [Report] Going Green from the Inside Out - Accelerating Green Building Adoption in Singapore.pdf
PDF, document12/04/2023View asset [Press Release] Schneider Electric and Singapore Green Building Council Release Joint Report Unveiling Critical Challenges and Recommendations on Green Building Adoption in Singapore.pdf
PDF, document13/04/2023View asset
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