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Media Releases
22 Oct 2024
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- To guide businesses towards their decarbonisation goals, the Energy Market Authority, the Energy Research Institute @ Nanyang Technological University, Singapore (NTU Singapore) and Enterprise Singapore are developing a playbook with actionable strategies to reduce Scope 2 carbon emissions. Scope 2 refers to indirect greenhouse gas emissions associated with companies’ purchase of electricity, as well as steam, heat or cooling.
- Titled “Powering a Sustainable Future: A Playbook on Scope 2 Emissions Reduction for Singapore Businesses”, it will include three sections covering:
A. An overview of Singapore’s efforts to decarbonise;
B. The role of the private sector in reducing carbon emissions; and
C. Actionable strategies which companies can adopt in the near-, mid-, and long-term to reduce Scope 2 emissions.
- The playbook will provide businesses with a comprehensive resource on Singapore’s existing policies towards decarbonisation and insights on the importance of managing Scope 2 emissions. These include practical solutions for developing sustainability strategies that enhance energy efficiency and lower electricity-related carbon emissions.
- Adopting such solutions can help businesses tap into new business opportunities, reduce costs, and enhance resilience against climate risks while supporting Singapore’s sustainability goals. The playbook also aims to guide small and medium enterprises in understanding the regulatory requirements for sustainability reporting, such as mandatory climate reporting for listed enterprises from Financial Year 2025.
- For businesses whose main emissions contributions are from electricity consumption (i.e. Scope 2 emissions), understanding of where Scope 2 emissions originate and how Scope 2 emissions can be reduced is key to accelerating their decarbonisation journey. To ensure that the recommendations are practical, evidence-based, and aligned with the local business landscape, the playbook will be developed based on Singapore’s policies to manage emissions, combined with an in-depth analysis of case studies, research and assessments on strategies for Scope 2 decarbonisation.
- A version of the digital playbook will be launched in conjunction with the Singapore International Energy Week (SIEW) 2024 from 21 to 25 October 2024. This release includes the first two sections which will set the context for the full playbook, giving an overview of Singapore’s Scope 2 related emissions, Singapore’s current state of policies and regulations towards decarbonisation, and the business case for reducing carbon emissions. This version can also be accessed at https://go.gov.sg/playbook-scope-2-emissions-reduction-for-sg-businesses. The full playbook will be available in the first quarter of 2025.