Singapore’s $5b Future Energy Fund boost signals green energy focus

The move is expected to channel more funds to critical infrastructure.

The $5b boost to the Future Energy Fund reflects Singapore's commitment to driving the energy transition and securing a more sustainable future, according to experts.

“This investment will be instrumental in building critical infrastructure, ensuring that Singapore remains at the forefront of clean energy innovation,” said Wong Meng Yew, sustainability and climate tax leader at Deloitte Southeast Asia.

He added that relevant businesses can now be further incentivised to tap into this funding to contribute towards a greener Singapore.

Sanjeev Gupta, energy and commodity markets leader at EY Asia-Pacific said supporting critical infrastructure for energy transition not only secures clean power but also fosters innovation and technological advancement.

Elis Tan, executive director of BDO Singapore also said that injecting funds into critical infrastructure like undersea cables and hydrogen terminals positions the city-state “as a leader in clean energy whilst ensuring long-term energy security and resilience.”

Meanwhile, Yoon Young Kim, cluster president, Singapore and Brunei, at Schneider Electric said increasing the Future Energy Fund helps the city-state plan ahead of the expected increase in corporate demand for energy efficiency technologies.

“We expect it should catalyse investments into new technologies that can significantly move the needle for Singapore's carbon emissions. More importantly, it sends a signal to the global business community that Singapore is committed to greening its energy sources,” he added.